News

Bloomberg Hospital workers in Washington state have been making protective medical gear out of office supplies and other run-of-the-mill materials as they deal with a severe shortage of equipment needed to care for patients who may have Covid-19. Among the supplies coming in handy: clear vinyl sheets. “We are very close to being out of face shields,” said Becca Bartles, ...

Bloomberg Facebook Inc. is paying all of its 45,000 employees an extra $1,000 to help manage expenses during the Covid-19 outbreak. Chief Executive Officer Mark Zuckerberg announced the decision in a memo to workers, earlier reported by The Information. The bonus applies to the social network’s full-time employees, who as of now can’t come into the office for health and ...

ABU DHABI / WAM Latest figures released by the central bank of the UAE note total foreign assets were valued at AED405.94 billion in February 2020. This figure indicates an increase of approximately AED47 billion, or 13 percent, compared to the same month last year. This growth in the central bank’s foreign assets balances reflect overall positive markers for the ...

Bloomberg Saudi Arabia plans to boost oil exports even further from April to May, reaching a record of more than 10 million barrels a day as the kingdom taps a new field. The increase in shipments of about 250,000 barrels a day shows the kingdom is determined to carry on with its policy of pumping flat out after its alliance ...

DUBAI / WAM Dubai Holding, a global investment holding company, and Meraas, Dubai’s premier developer and operator of lifestyle destinations, announced on Tuesday the launch of an economic relief package aimed at supporting existing business partners and customers across their portfolio of companies. The economic relief package which amounts to more than AED1 billion is designed to partially alleviate burdens ...

Bloomberg The International Monetary Fund (IMF) is ready to mobilise its $1 trillion lending capacity to help nations counter the coronavirus outbreak, with Managing Director Kristalina Georgieva calling for global coordination on monetary, fiscal and regulatory support. Georgieva reiterated in a blog post that the fund has $50 billion in flexible and rapid-disbursing emergency funds for developing nations, with as ...

Emirates Business The first ‘Adnoc On the go’ neighbourhood service station has officially opened its doors to the local community at Al Bateen, Abu Dhabi. Unveiled at Adipec in November 2019, the neighborhood station, which was conceptualised by an in-house team of designers. Smart technology enabled, the next-generation station allows customers to shop at the Adnoc Oasis convenience store, ordering ...

Abu Dhabi / WAM Abu Dhabi’s property developer and investor, Aldar Properties, announced an AED100 million commitment to support residents, tenants, customers and partners as part of its long-term sustainable stakeholder management approach. Commenting on the announcement, Mohamed Khalifa Al Mubarak, Chairman of Aldar, said, “We commend and are grateful for our wise leadership for its prompt and decisive action ...

Abu Dhabi / WAM ZonesCorp, the largest operator of purpose-built economic zones in the UAE, has successfully attracted over AED350 million in investments since the beginning of 2020. Spreading over an area of more than 260,000 square meters, these investments serve a variety of sectors including oilfield services, plastic and automotive. Mohamed Al Khadar Al Ahmed, Acting Director General of ...

SHARJAH / WAM The Sharjah Chamber of Commerce and Industry (SCCI), announced on Tuesday its free mobile office service “You call, We arrive” for all customers, as part of its precautionary measures to ensure the safety of its employees and customers. The move comes in line with the SCCI’s continuous efforts being made to provide valued added services to all ...