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Bloomberg German companies from BASF SE to Volkswagen AG risk fines if their suppliers around the world breach human rights. Under new legislation agreed to by Chancellor Angela Merkel’s government, companies will have to ensure their partners don’t engage in harmful practices and exploitation. In addition to penalties, German firms can also be excluded from public contracts. The so-called Supply-Chain ...

Bloomberg Canadian Prime Minister Justin Trudeau’s government is examining the merits of carbon tariffs, a policy measure to tax goods from countries with weaker climate laws that’s won the support of Boris Johnson. The UK prime minister wants Group of Seven countries to discuss the idea of imposing levies on imported goods made in places that don’t have strong rules ...

Abu Dhabi / WAM The Hope Probe’s successful arrival to Mars’ orbit garnered international media coverage, with #ArabsToMars topping trends with 2.7 billion engagements around the world. The historic mission marked the Arab world’s entry to the global space race and placed the UAE as the first Arab nation, and the fifth in the world, to reach Mars. Major news ...

SHARJAH / WAM The Hamriyah Free Zone Authority (HFZA) has confirmed its participation in the 26th edition of the Gulfood 2021 Exhibition, which will be held at Dubai World Trade Centre from February 21-25. During Gulfood 2021, the free zone authority will highlight the numerous incentives and benefits provided to investors and companies, and its pivotal role in supporting the ...

Abu Dhabi / WAM The Higher Organising Committee of the Abu Dhabi International Hunting and Equestrian Exhibition (Adihex 2021) has provided painting content guidelines for artists interested in participating in the event which will be held from September 27 to October 3, at the Abu Dhabi National Exhibition Centre (Adnec). Adihex hosts visual artists, photographers, painters, calligraphers and art designers, ...

Bloomberg Macquarie Group Ltd’s green investment arm raised 1.6 billion euros ($1.94 billion) for a renewable energy fund. The company’s Green Investment Group Renewable Energy Fund 2 closed after exceeding its target of 1 billion euros and received commitments from 32 pension funds and insurers from largely the UK and Germany, as well as from some sovereign wealth funds, according ...

Bloomberg Former European Central Bank (ECB) President Mario Draghi was sworn in as Italy’s prime minister, ending weeks of political gridlock and avoiding an election during the pandemic. Draghi was sworn in by President Sergio Mattarella at Rome’s Quirinale palace, with only a few ministers in attendance because of social distancing rules. He unveiled his long-awaited government line-up, nominating the ...

Abu Dhabi / WAM First Abu Dhabi Bank (FAB) announced it signed a five-year strategic partnership deal with Mastercard for the enablement of commercial cards and payments solutions. The move aims to simplify business-to-business (B2B) payments for companies in the UAE, making them more seamless, secure and convenient. Mastercard’s commercial cards and payment platforms will be made available to FAB ...

Abu Dhabi / WAM Tawazun announced its participation at the International Defence Exhibition and Conference (Idex 2021) and the Naval Defence and Maritime Security Exhibition (Navdex 2021) held from the February 21-25 at the Abu Dhabi National Exhibition Centre (Adnec). Tawazun Economic Council had previously signed an agreement with Adnec to become the Principal Partner of this edition of Idex ...

ABU DHABI / WAM The central bank of the UAE (CBUAE) imposed a financial sanction on an exchange house operating in the UAE, pursuant to Article 14 of the Federal Decree Law No. 20 of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organisations. The exchange house has a weak anti-money laundering and combating ...