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Bloomberg The World Trade Organisation (WTO) tempered its pessimism about the outlook for cross-border commerce, saying its worst-case scenario for this year will likely be avoided but warning governments against becoming complacent to lingering economic risks. The Geneva-based organisation estimated that global trade in merchandise dropped 3% in the first quarter and fell 18.5% in the second, according to a ...

ABU DHABI / WAM A special virtual meeting was conducted by Mohammed Ali Al Shorafa, Chairman, Abu Dhabi Department of Economic Development (Added), where he emphasised the Abu Dhabi Government’s commitment to enhance the roles of entities within the public and private sectors in the continuous efforts to overcome the challenges and impact caused by the Covid-19 pandemic. Al Shorafa’s ...

ABU DHABI / WAM Tickets can now be purchased on Louvre Abu Dhabi’s website ahead of the museum’s reopening this Wednesday, June 24. Visitors will once again be able to experience Louvre Abu Dhabi’s world-class collection and view its latest international exhibition, Furusiyya: The Art of Chivalry between East and West, which will run from July 1 and extended until ...

Sharjah / WAM Sharjah Electricity and Water Authority (Sewa) has completed the implementation of a natural gas network in all areas of Rahmaniyah, with a length of 305 km. This bring the length of the network in the city of Sharjah to 1750 km. Sewa is currently working on implementing a strategic line from the Rahmaniyah station to the Muwailih ...

DUBAI / WAM One Million Arab Coders Initiative (OMAC) led by Dubai Future Foundation (DFF) named the five winning student coders whose projects tackle some of the crucial issues facing today’s societies while bringing value to communities in countries across the Arab world. The five student coders were selected for their project proposals outlining how they would execute their fully ...

Bloomberg Norway is set to tighten rules for building wind turbines, caving in to massive protests from locals. A government proposal to slow down the development of onshore wind power comes after increasing local resistance mirrors sentiment in other European countries. Norway already decided to scrap a plan for a new permission framework last year. Norway, which has already developed ...

Bloomberg Vladimir Putin said he’ll consider running for a fifth presidential term in 2024, arguing that the hunt for any successor risks paralysing Russia’s government as the next election nears. “I don’t rule out such a possibility,” if the necessary amendment to the constitution is approved, Putin said in a Rossiya 1 television documentary broadcast. “I haven’t made up my ...

Bloomberg Italian Prime Minister Giuseppe Conte said his government would likely seek a wider budget gap as he draws up an ambitious reform plan to lobby for European Union (EU) assistance to restart the economy. The government will focus on infrastructure projects including high-speed railways and may approve a value-added tax cut to stem the coronavirus’s impact on the euro-zone’s ...

Bloomberg Wirecard AG was left fighting for survival after acknowledging that 1.9 billion euros ($2.1 billion) that it had reported as assets probably don’t exist, deepening an accounting scandal that has rattled Germany’s financial industry. The payments processor said it’s in discussions with creditors and considering a full-scale restructuring after pulling its financial results for fiscal 2019 and the first ...

Bloomberg Danish lawmakers have struck a climate agreement to ensure their country can live up to a goal of cutting carbon emissions by 70% from 1990 levels over the coming decade. The deal, after winning broad backing across party lines, means Denmark will commit to cutting carbon emissions by 3.4 million tonnes. Lawmakers also agreed to build the world’s first ...