News

Bloomberg Getting the $350 billion in loans for small businesses in the record US stimulus package into business owners’ hands before a wave of closures will strain the nation’s network of lenders and regulators as never before. The magnitude of the plan is unprecedented for the Small Business Administration (SBA), an agency that distributed $28 billion in fiscal year 2019 ...

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, reviewed the global fight against coronavirus (Covid-19) in a phone call with Egyptian President Abdulfattah El Sisi. The conversation covered the prospects of further consolidating the brotherly relations between the two sisterly countries in ...

Bloomberg The global oil market is broken, overwhelmed by an unmanageable surplus as virus lockdowns cascade through the world’s largest economies. Onshore tanks in many markets are full, forcing traders to store excess oil in idle supertankers. Refineries are starting to shut down because nobody needs the fuels they produce. In physical oil markets, barrels are already changing hands for ...

Abu Dhabi / WAM The total cumulative balance of letters of guarantee and other credit facilities provided by banks and other business entities in the UAE significantly grew to AED4.533 trillion in February, 2020, an increase of AED186 billion, or 4.3 percent approximately, from AED4.347 trillion in January, statistics by the Central bank of the United Arab Emirates have shown.

DUBAI / WAM Under the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and the directives of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of Dubai, His Highness Sheikh Ahmed bin Saeed Al ...

RIYADH / WAM The Kingdom of Saudi Arabia announced on Sunday that it will extend the suspension of workplace attendance in both public and private sectors and international passenger flights among efforts to contain the spread of the coronavirus. In a statement issued by an official source at the Ministry of Interior, all domestic flights, trains, buses and taxis also ...

Dubai /Emirates Business As part of commitment to the vision of Smart Dubai, and to facilitate business operations for customers through smart transformation, Dubai Chamber of Commerce and Industry announced the launch of the electronic attestation service and the authentication of signatures on documents, which raises the percentage of smart transformation of core services to 98%. The Chamber drew attention ...

ABU DHABI / WAM Leading global scientists and experts in rain enhancement and atmospheric research convened in the UAE capital to address the pressing water and sustainability issues and discuss the latest developments in rain enhancement research. The gathering was part of the 4th International Rain Enhancement Forum (IREF) organised by the UAE Research Programme for Rain Enhancement Science (UAEREP) ...

RAS AL KHAIMAH / WAM Ras Al Khaimah Economic Zone (Rakez) said that it is launching its ‘Spring Packages’ online, allowing investors for hassle-free business registration. Alongside the remote-friendly feature, the packages are designed to fully support SMEs, industrialists and investors at their stage of development without putting a high cost, a Rakez press release said on Sunday. With Rakez’s ...

DUBAI / WAM Twenty-three health facilities in six emirates, including ten hospitals are providing the health card issuance and renewal services, according to the Ministry of Health and Prevention (MoHAP). “Emirati, GCC citizens and residents are entitled to get this service, which is also available via MoHAP e-services or typing centres,” the ministry added. The service provided by Health Registration ...