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SHARJAH / WAM Dana Gas shareholders approved on Wednesday to distribute a 5.5 fils cash dividend for the financial year ended December 31, 2019. The move was made during the company’s annual general meeting, during which a feasibility study to separate the Dana Gas’ upstream and midstream businesses in a demerger was also given the green light by shareholders. The ...

ABU DHABI / WAM HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, has discussed with his Canadian counterpart François-Philippe Champagne, bilateral relations and joint cooperation between the two countries. In a telephone call, Sheikh Abdullah offered his sincere condolences to Francois Philippe Champaign, the Canadian government and the friendly Canadian people on the victims ...

ABU DHABI / WAM Etisalat Group on Wednesday announced its consolidated financial statements for the three months ending March 31, while also approving an interim dividend payout of 25 fils per share. In a statement the telecommunications group noted that its consolidated revenues amounted to AED13.1 billion representing a year over year increase of one percent while consolidated net profit ...

Abu Dhabi / WAM The United Arab Emirates on Wednesday sent an aid plane carrying 7 metric tons of medical supplies to the Republic of Sudan to bolster the country’s efforts to combat the Covid-19 pandemic. The shipment, which contained medical equipment and test kit supplies, will benefit more than 7,000 healthcare professionals in Sudan. Commenting on aid delivery, Hamad ...

Sharjah / WAM Sharjah Asset Management (SAM) and Sharjah Cooperative Society have announced that they will create a digital platform and a smart application to help facilitate shopping operations and make delivery of items easier for the customers of Sharjah Cooperative Society. This came as part of a Memorandum of Understanding (MoU) signed electronically by Waleed Al Sayegh, CEO of ...

Bloomberg Singapore will witness a deeper recession this year after the nation extended and tightened its partial lockdown, Citigroup Inc warned, widening its forecast for an economic contraction. The city-state’s economy will contract by 8.5% in 2020, down from an earlier estimate of a 6% fall, economists Wei Zheng Kit and Kai Wei Ang wrote after Singapore extended “circuit breaker” ...

Bloomberg Facebook Inc will invest $5.7 billion in the digital assets controlled by India’s richest man, the US social-networking giant’s biggest deal since the 2014 purchase of WhatsApp as it seeks a broader foothold in its biggest global market. The US company will buy about 10% of Jio Platforms, becoming the largest minority shareholder, Reliance Industries Ltd said in a ...

Bloomberg South China Morning Post, a newspaper owned by Chinese e-commerce giant Alibaba Group Holding Ltd, is cutting executives’ salaries and asking some workers to take unpaid leave as the coronavirus crisis has hurt revenue. CEO Gary Liu and Editor-in-Chief Tammy Tam are among 27 senior executives who have agreed to pay reductions immediately, the company said on its newspaper ...

Bloomberg Indonesia banned an annual ritual of citizens travelling in large numbers to their hometowns and villages ahead of the Muslim festival of Eid al-Fitr to prevent the spread of coronavirus in the world’s largest Muslim-majority country. President Joko Widodo, who announced the ban at a cabinet meeting in Jakarta, said the prohibition was based on an assessment that about ...

Bloomberg European Union (EU) leaders head to a key virtual summit on Thursday without any concrete proposals from the bloc’s institutions on how to finance a controversial economic recovery fund, raising the chances of yet another inconclusive showdown. A “roadmap” distributed to national delegations from EU Council President Charles Michel, who will chair the video conference, contains no details on ...