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Ras Al Khaimah / WAM The National Bank of Ras Al Khaimah (Rakbank) announced a consolidated net profit of AED 505.4 million for the full-year of 2020. In a statement on Wednesday, Rakbank said, “The bank’s results reflect the impact of the pandemic on our customers and the economy whereby total assets stood at AED 52.8 billion, and gross loans ...

ABU DHABI / WAM The Abu Dhabi Emergency, Crisis and Disasters Committee, has approved the resumption of in-classroom education for all grades in Abu Dhabi schools from February 14, while keeping e-learning as an option until the end of the school year. In a statement the committee said it “has approved a preventive protocol specific to the schooling community, encompassing ...

Bloomberg Nigerian independent producer Heirs Oil & Gas Ltd plans to restore an oil block acquired from Royal Dutch Shell Plc to its former output levels to make it one of the country’s biggest local operators. Heirs finalised its purchase of an operating stake in a permit known as Oil Mining Lease 17 in a deal worth more than $1 ...

Bloomberg Myanmar authorities filed criminal charges against former leader Aung San Suu Kyi for possessing illegally imported walkie-talkies just days after the military ousted her government in a coup. Suu Kyi was charged for breaching an import-export law and faces as many as three years in prison if convicted. The police incident report indicated that unauthorised telecommunications equipment was found ...

Bloomberg The European Union (EU) is facing a cost of tens of billions of euros for the slow and chaotic rollout of coronavirus vaccinations compared to countries such as the UK and US. Lockdowns mean the bloc’s economy is operating at about 95% of its pre-pandemic level, equating to about $14 billion a week of lost output, according to calculations ...

Bloomberg The US economy is showing some scattered signs of picking up from an end-of-year slowdown, muddying President Joe Biden’s efforts to win congressional passage of a $1.9 trillion stimulus package. New claims filed for unemployment benefits have fallen for two straight weeks, while January payrolls are forecast to rebound from a December. Managers in charge of buying supplies for ...

Bloomberg The UK is launching a consultation on its post-Brexit subsidies system, which the government has hailed as a “significant milestone” in the country’s future outside the European Union (EU). The new UK-wide “subsidy control system” will replace the EU’s state aid regime, which was a major stumbling block in Brexit talks last year. Prime Minister Boris Johnson’s government believes ...

Bloomberg Regions of the UK powered by a combination of nuclear and wind are already hitting 2030 climate targets, according to an industry report. Britain has pledged the deepest cuts in greenhouse gas emissions in the Group of 20 nations to put the UK at the vanguard of the fight against climate change. The prime minister’s goal to slash pollution ...

ABU DHABI / WAM Khalifa Fund, in collaboration with StartAD, announced the launch of AI Mentor, a ground-breaking platform with a diverse range of digital tools and resources for entrepreneurs during the business planning phase. The digital platform will guide entrepreneurs through the process required to submit a business plan for funding, as well as receive mentorship and training as ...

Abu Dhabi / WAM Zaki Nusseibeh, Minister of State and Chancellor of the United Arab Emirates University (UAEU), discussed, with the Belgian Ambassador Peter Claes, the cultural ties between the UAE and the Belgium. During the videoconference meeting, which took place on Tuesday, Nusseibeh expressed his keenness to strengthen overall bilateral ties between the two countries, most notably in the ...