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Bloomberg Spain’s government approved an 11 billion-euro ($13 billion) plan to help companies pay down debts accumulated during the pandemic, Economy Minister Nadia Calvino said. The package, which has three parts, will leave companies better poised for the economic recovery, Calvino told journalists during a televised news conference. The announcement is the latest example of how European governments are accelerating ...

Bloomberg UK Prime Minister Boris Johnson is working on a major overhaul of one of his government’s most important climate change policies after it failed to deliver. With a budget of 2 billion pounds ($2.8 billion), the Green Homes Grant program launched in September to provide vouchers for homeowners to help pay for insulating their properties and switch to low ...

Bloomberg Telefonica SA may defy expectations for an outright sale of its submarine cables and bring in investors to share ownership of the business instead. The Spanish phone company has been working with advisers to gauge interest from potential buyers. It was hoping to offload the business for about 2 billion euros ($2.4 billion), according to media reports last year. ...

Dubai / WAM Etihad Credit Insurance (ECI) and African Trade Insurance Agency (ATI) have agreed to strengthen the trade relations between the UAE and Africa by providing trade finance solutions to businesses and exporters in both areas. To that end, both sides signed a Memorandum of Understanding (MoU) to boost the global competitiveness of exporters by increasing their awareness on ...

Dubai / WAM E-commerce sales in Dubai are projected to jump 23 percent to reach $27 billion in 2022, driven by the Covid19-led digital shift and changing consumer demands, which are levelling the playing field, Hamad Buamim, President and CEO of Dubai Chamber of Commerce and Industry, said during his opening remarks at The Retail Summit 2021. The forecast, based ...

RAS AL KHAIMAH / WAM The Local Emergency, Crisis and Disasters Management Team in Ras Al Khaimah announced the extension of relevant precautionary measures to April 8 to curb the spread of coronavirus (Covid-19). Major General Ali Abdullah bin Alwan Al Nuaimi, Commander-in-Chief of the Ras Al Khaimah Police and Head of the Team, said that relevant precautionary and preventive ...

DUBAI / WAM Dubai’s Roads and Transport Authority (RTA) has announced the issuance of 48,749 permits for practising passenger transport in 2020. It comprises 4,315 permits for school transport drivers, 8,999 permits for limo drivers, 25,666 permits for taxi drivers, 326 permits for heavy truck drivers, 4,461 permits for school transport assistants, and 4,082 permits for transporting passengers returning to ...

DUBAI / WAM Dubai Municipality, in collaboration with the Mohammed Bin Rashid Space Centre (MBRSC), has announced that it is preparing to launch the DMSat-1 satellite, the region’s first environmental nanometric satellite, on March 20. The launch is part of a high-technology project undertaken to develop solutions to environmental challenges and address climate change. The satellite will be launched from ...

Bloomberg The US accepted a troop-funding increase from South Korea significantly less than demanded by the Trump administration, underscoring President Joe Biden’s efforts to ease tensions with a key ally often criticised by his predecessor. South Korea agreed to pay 1.18 trillion won ($1.04 billion) to the US for security this year, about a 14% increase from 2019, the Foreign ...

Bloomberg Officials at the International Monetary Fund (IMF) see some benefit in delaying a $45 billion agreement with Argentina after the nation’s midterm election in October, with talks yielding little progress six months after they began, according to people familiar with the situation. While IMF negotiators prefer to hash out a deal with Argentina as soon as possible, some see ...