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Bloomberg European governments have had to spend big to protect workers during the coronavirus restrictions, but the huge burden on the public finances looks like it’s worth it. More than 40 million workers have been furloughed during the shutdowns, based on data from the region’s biggest economies, getting a portion of their pay covered by the state. Without the government ...

Bloomberg As Covid-19 business disruptions continued to mount through April, more top executives grew worried about corporate liquidity and long term survival, according to surveys conducted by the consultancy firm West Monroe. “The fear is that as businesses are forced to alter their operations overnight, they take drastic measures, cease communications, and go dark on suppliers and vendors,”said Kevin McCarty, ...

Bloomberg Some of London’s most influential investors are giving UK companies extra time to find new board members because of the coronavirus crisis, potentially offering a group of long-standing chairmen an unexpected extension to their careers. Legal & General Investment Management (LGIM) will allow London-listed companies an additional 12 months to replace directors coming to the end of their recommended ...

Bloomberg National Public Radio (NPR) is cutting pay and benefits in a bid to “save jobs and support the future of NPR” after the coronavirus pandemic ballooned its projected losses to as much as $53 million over the next two years. Employees’ base pay will be reduced on a sliding scale of up to 9% through Sept. 30 and workers ...

ABU DHABI / WAM The value of non-oil foreign merchandise trade through Abu Dhabi ports hit to AED37.1 billion in January and February, up 3.6 percent from AED35.8 billion during the comparable period last year, according to the figures released by Abu Dhabi Statistics Centre (SCAD). Imports increased by 12.5 percent from AED17.11 billion to AED19.25 billion during the reference ...

ABU DHABI / WAM The UAE  on Monday sent an aid plane containing five metric tons of medical supplies to Botswana to bolster the country’s efforts to curb the spread of Covid-19. The aid will assist approximately 5,000 medical professionals as they work to combat the virus. To date, the UAE has provided more than 353 metric tons of aid ...

ABU DHABI / WAM The central bank of the UAE has revealed the country’s gross banking assets have risen to AED3.128 trillion ($851 billion) during the first quarter of 2020. The March gross banks’ assets total represents a year-on-year increase of 8.1 percent compared to March 2019 (AED2.894 trillion). Statistics issued by central bank highlighted an increase in the value ...

ABU DHABI / WAM In an ongoing effort to find innovative solutions to the challenges presented by the Covid-19 pandemic, Mubadala Healthcare has reached out to NYU Abu Dhabi (NYUAD) to utilise its 3D printing and Core Technology Platform capabilities to meet the growing demand for critical medical supplies. In a statement on Monday, Mubadala Healthcare said the aim of ...

Bloomberg Oil fell after a three-day rebound as a number of funds shifted away from near-term contracts, fearing a repeat of the meltdown last month that saw prices plunge below zero. Futures fell 8% towards $18 a barrel in New York as investors worried that a massive supply overhang while coronavirus shatters demand will send market tumbling again. The manager ...

ABU DHABI / WAM Abu Dhabi Health Services Company (Seha) announced the launch of the ‘I am Committed’ initiative in collaboration with 81 Designs, a UAE-based social enterprise. The programme aims to increase awareness of the government’s efforts to minimise the spread of coronavirus outbreak, encourage the community to adhere to the guidelines and get tested for Covid-19. As part ...