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Bloomberg The Trump administration extended the date that companies can return loans from a popular coronavirus relief program without paying a penalty by one week to May 14. The US Treasury Department and Small Business Administration (SBA) had set May 7 as the date for firms that had improperly taken loans from the Paycheck Protection Program to repay them, but ...

Bloomberg Chancellor of the Exchequer Rishi Sunak is examining ways to move millions of workers off government support and back into their jobs as the UK leaves its lockdown. In March, as the UK went into lockdown to slow the spread of coronavirus, Sunak announced a furlough program where workers received 80% of their wage to stay home. It’s now ...

Bloomberg Illinois delayed the planned auction of $1.2 billion of short-term debt as it faces record-high penalties to borrow on Wall Street because of the deep financial hit the state is being dealt by the coronavirus shutdown. The worst-rated state had planned to sell about $1.2 billion of short-term tax-exempt general-obligation debt on Wednesday, its first borrowing during the pandemic, ...

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 praised the role of the country’s armed forces in fighting all sorts of crises across the globe. “The 44th anniversary of the unity of our armed forces this year is happening during exceptional ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) on Tuesday announced its Panorama Digital Command Centre (Panorama) has generated over $1 billion (AED3.67 billion) in business value since its inception three years ago. Panorama is a key part of Adnoc’s ongoing strategic investments in digitisation and artificial intelligence (AI) to enable the company to drive greater efficiencies, ...

ABU DHABI / WAM The Department of Culture and Tourism – Abu Dhabi on Tuesday announced the launch of the ‘Abu Dhabi Specialist Programme’, an e-learning platform which will provide travel trade industry professionals with destination-related information about the emirate through a series of online courses. DCT Abu Dhabi noted that the programme will be rolled out in three phases ...

Abu Dhabi / WAM The Department of Government Support, as represented by the Abu Dhabi Digital Authority announced launch of digital payment platform, ‘Abu Dhabi Pay’ through the Abu Dhabi Government Services ecosystem (Tamm). The launch of Abu Dhabi Pay is a new step towards accelerating pace and impact of digital transformation, innovating more solutions and services aimed at facilitating ...

Bloomberg Oil headed for the longest run of daily gains in more than nine months as the impact of production cuts indicated the glut may be beginning to ease. Futures in New York rose for a fifth day after Genscape reported an increase in inventories of only 1.8 million barrels at Cushing, Oklahoma, the delivery point for West Texas Intermediate ...

ABU DHABI / WAM The United Arab Emirates on Tuesday sent an aid plane containing 7 metric tons of medical supplies to Guinea to bolster the country’s efforts to curb the spread of Covid-19. The aid will assist approximately 7,000 medical professionals as they work to combat the virus. Commenting on the aid delivery, Ahmed Nasser Abdul Rahim Al-Khaja, UAE ...

Ras Al Khaimah / Emirates Business RAK International Corporate Centre (RAK ICC), a world-class corporate registry in Ras Al Khaimah, has announced unprecedented Business Stimulus Measures to support its Registered Agents and promote new business during these challenging times. RAK ICC’s Business Stimulus Measures are in the form of exclusive discounts to its clients in order to provide reassurance, boost ...