News

ABU DHABI / WAM The United Arab Emirates on Thursday sent an aid plane containing seven metric tons of medical supplies to Bangladesh 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, Saed Mohammed Al Muhairi, UAE Ambassador ...

ABU DHABI / WAM Shareholders of Abu Dhabi National Energy Company PJSC (Taqa) have voted at the Company’s Annual General Assembly to approve the transfer of the majority of Abu Dhabi Power Corporation’s (ADPower) water and electricity generation, transmission and distribution assets to Taqa, which is owned by ADQ, one of the region’s largest holding companies. This transaction creates one ...

HADRAMAUT / WAM The Emirates Red Crescent (ERC) has begun its distribution of Ramadan Mir across various districts of the Hadramaut Governorate, targeting underprivileged families, as part of the UAE’s efforts to support the people of Yemen. The ERC responded via its annual Ramadan Mir campaign, which will see 1,000 meals distributed across Hadramaut daily throughout the Holy Month. Hamid ...

ABU DHABI / WAM Private-sector employers must commit to ensuring employee wages are safeguarded and paid on time via the Wages Protection System, said the Ministry of Human Resources and Emiratisation (MoHRE). In a statement, the UAE ministry noted that employers must adhere to Ministerial Decree No. 739 of 2016 concerning the protection of wages, as well as employment contracts ...

Abu Dhabi / WAM The Ministry of Education launched the “Sanadcom” initiative for children of the medical, administrative, and nursing staff working in the country, and who are the first line of defence against Covid-19, to promote their academic progress and meet all their technical and psychological requirements, as their parents are busy fighting the pandemic. This initiative, in cooperation ...

DUBAI / WAM The Zayed Higher Organisation for People of Determination (ZHO) on Thursday signed a Memorandum of Understanding (MoU) with Microsoft to enhance its remote learning initiative and ensure continuity in education, the development of skills and social empowerment of people with disabilities. The MoU was signed between Abdullah Al Humaidan, General-Secretary at ZHO, and Sayed Hashish, General Manager ...

Bloomberg The French and Spanish economies plunged into record contractions and German unemployment climbed more than expected amid virus shutdowns that are pushing Europe into its deepest recession of the post-war era. France shrank 5.8%, the most since 1949, with Spain suffering a 5.2% drop in GDP. The figures highlight the dramatic effect of government-ordered shutdowns as just two weeks ...

Bloomberg UK homebuilders are starting to pull out of deals to buy land as they brace for a hit to demand. Inland Homes Plc, a firm that specialises in getting urban sites ready for construction, said on Thursday that three deals with large publicly traded homebuilders had been aborted because of the coronavirus pandemic. The cancelled deals show how developers ...

Bloomberg A gauge of Russian manufacturing slumped to the lowest level since records began in 1997 as lockdowns across Europe choked demand. The Manufacturing Purchasing Managers’ Index (PMI) fell to 31.3 in April, down from 47.5 in March, IHS Markit said on Thursday. The median estimate of eight economists surveyed by Bloomberg was for 40.5. “Output and new orders contracted ...

Bloomberg Microsoft Corp. said quarterly sales and profit rose, buoyed by demand for internet-based software and cloud services needed to accommodate a shift to remote working during the coronavirus crisis. Profit in the period ended March 31 rose to $10.8 billion, or $1.40 a share, the company said in a statement. Sales rose 15% to $35 billion. The results from ...