News

Ras Al Khaimah / Emirates Business Ras Al Khaimah Economic Zone (Rakez) has organised its ‘Customers Come First’ webinar, one of the RAKEZ digital events that are intended to provide valuable information and platform for discussions between the Rakez and its clients during social distancing times. Presented by Ryanne Van Der Eijk, Rakez Chief Customer Experience Officer, the webinar walked ...

ABU DHABI / WAM Agthia Group on Sunday announced its financial results for the first quarter of 2020, registering total revenues of AED571 million, a 12 percent year-on-year growth compared to the same period in 2019. In a statement on Sunday, Agthia registerd net profits of AED27 million as of March 31. The group’s agri-business recorded AED273 million in revenues, ...

Dubai / Emirates Business Dubai Silicon Oasis Authority (DSOA) allocated additional exemption packages and incentives to the business sector, in line with Dubai’s government decision to gradually open a number of economic sectors, shopping centers and commercial stores. This step is a continuation to the previous relief packages implemented by DSO which were well-received by partners and stakeholders. The new ...

Dubai / WAM DP World Dakar has kept trade flowing in the fight against the spread of Covid-19 in Senegal, working to make certain that vital goods such as food and medical supplies can get through, while ensuring strict health and safety measures are in place to protect employees. In a statement, DP World explained some of the working mechanisms ...

Bloomberg Italian debt is once again the must-watch bellwether for growing tensions within the euro-area. Global investors have lasered in on the nation’s bonds because, while they feature tempting yields, the government’s relatively weak finances add to the shared risk across the region. UniCredit SpA estimates foreign asset managers and hedge funds’ exposure to Italian government bonds may be around ...

Bloomberg Canada lost 2 million jobs in April as a result of pandemic-related shutdowns, by far the biggest decline on record but only about half what economists had expected. The drop in employment adds to the 1 million decline in March. The jobless rate jumped to 13% in April, the agency said in Ottawa. Economists were anticipating a loss of ...

Bloomberg Elon Musk lashed out at the California county blocking Tesla Inc. from reopening its only US car plant, threatening to immediately relocate operations to other states and cease manufacturing at the factory. Hours after the chief executive officer tweeted that Tesla would sue Alameda County, which didn’t allow the facility to resume operations, the electric-car maker filed a complaint ...

Bloomberg The US health-care industry wasn’t immune to the devastating job losses caused by the coronavirus last month. Even as health-care workers battled Covid-19 in emergency rooms and intensive-care units across the country, the industry saw 1.4 million jobs vanish in April, the Labor Department reported on. That equates to about one of every 12 health-care jobs. The largest declines ...

Bloomberg Shares of car-parts suppliers rallied after stronger-than-expected results suggest the companies may be doing better than feared amid the challenges posed by coronavirus. American Axle, Lear and Tenneco were among biggest gainers in the sector after all three reported Q1 results that impressed investors and analysts, though concerns about the second quarter persist. Shares also received a boost on ...

Bloomberg Plant-based protein companies have been trying to sway consumers away from beef for years. Now, meat shortages caused by Covid-19 pandemic are making their job easier. Faux meat producers have a once-in-a-lifetime opportunity as supplies of beef tighten in the US. Wendy’s Co. has been running out of hamburgers at some locations, while Kroger Co. and Costco Wholesale Corp. ...