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FUJAIRAH / WAM Oil product stockpiles at the Middle East’s key oil hub of Fujairah rose 6.4 percent in the week, climbing to a record high for a second consecutive week as light, middle and heavy distillates all saw builds. Total product stocks were 27.859 million barrels, up from the previous high of 26.192 million barrels a week earlier, according ...

ABU DHABI / WAM Thursday will witness a global united effort where individuals from all walks of life and belief systems will come together in reflection and prayer. The Higher Committee for Human Fraternity (HCHF) initiated the ‘Prayer for Humanity’ call, inviting religious leaders and faithful around the world to a day of fasting, prayers and supplications for “the good ...

Bloomberg India will provide collateral-free loans worth $40 billion to boost liquidity for small businesses and help the economy tide over the coronavirus outbreak. The loans will benefit up to 4.5 million small businesses, Finance Minister Nirmala Sitharaman said in New Delhi on Wednesday. The program will be open until October 31. “Essentially this is to spur growth and to ...

DUBAI / Emirates Business Emirates has announced its plan to operate scheduled flight services from May 21 to nine destinations: London Heathrow Frankfurt, Paris, Milan, Madrid, Chicago, Toronto, Sydney and Melbourne.* The airline will also offer connections in Dubai for customers travelling between the UK and Australia. These flights will be available for booking on emirates.com. Travellers will only be ...

Bloomberg The UK economy shrank almost 6% in March as the nation went into lockdown, plunging into what may be its deepest recession in more than three centuries. The sharp decline is only a small part of the damage of the restrictions to control the coronavirus, which were in place for all of April and look set to endure in ...

Bloomberg Public transportation systems around the US are asking the federal government for an additional $32 billion, double the amount lawmakers are proposing in the latest relief bill, to help mass-transit providers cover lost revenue during the coronavirus pandemic. The funding request from New York’s Metropolitan Transportation Authority and mass-transit systems in New Jersey, San Francisco and Atlanta comes as ...

Bloomberg Elon Musk’s Space Exploration Technologies Corp. is seeking almost $656,000 in new funding from California in the midst of the billionaire’s battle over whether Tesla Inc. should be reopening its plant in the state. SpaceX’s request for funds to train existing workers and hire new ones will go before the state’s Employment Training Panel on May 15, one week ...

Bloomberg Brazilian port workers are starting to fall ill as the coronavirus pandemic reaches one of Latin America’s busiest shipping hubs. At least three privately-run terminals that handle soybeans, corn, sugar and coffee at Brazil’s Santos port have registered two cases each of Covid-19 in the past two weeks, according to people with direct knowledge who asked not to be ...

Bloomberg More than 1,000 workers at European slaughterhouses have contracted Covid-19, highlighting the growing challenges the global meat industry faces from the pandemic. In Ireland, 556 workers in 10 meat-processing facilities tested positive as of last week, the nation’s health department said. The Robert Koch Institute, which publishes daily Covid-19 reports in Germany, said there have been outbreaks at plants ...

ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has ordered coronavirus (Covid-19) free tests for the UAE citizens, in line with the preventive and precautionary measures taken by the UAE to contain the spread of the virus. According to a joint statement ...