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ABU DHABI / WAM Hub71, Abu Dhabi’s growing tech ecosystem, has expanded to 51 startups with the announcement of 15 new joiners to the Hub71 Incentive Programme. “The Hub71 Selection Committee prioritised global startups in the field of HealthTech and EdTech, which provide essential technologies to support the private and public sector as they adapt to the challenges of the ...

New York / WAM During the open debate of the UN Security Council (UNSC) on the fifth anniversary of the Youth, Peace and Security Agenda, the UAE encouraged the council to invite more young leaders to brief on a regular basis to reflect on individual experiences while pursuing peace and security in their societies. The UAE also urged the international ...

Bloomberg Nissan Motor Co warned that it expects to post a loss for the just-ended fiscal year, becoming the latest global automaker to be hit by the coronavirus pandemic. Full-year operating profit for the year to March will be as much as 130 billion yen ($1.2 billion) less than the 85 billion yen forecast in February, the Japanese automaker said ...

Bloomberg SoftBank Corp’s fifth-generation wireless service in Japan is living up to the hype in at least one respect — internet speeds that are blazingly fast even by the standards of one of the most connected countries in the world. The carrier’s month-old 5G network topped out at 1.1 gigabits per second for downloads and about 30 megabits for uploads ...

Bloomberg The euro-area economy’s expansion has come to a dramatic halt, pummeled by a pandemic that’s killed thousands and destroyed businesses and livelihoods. First-quarter GDP data due on Thursday will show a 3.7% contraction, the first since 2013, capturing the early hit to the economy from shutdowns to contain the coronavirus. The current quarter is likely to be even worse, ...

Bloomberg Wirecard AG said an independent audit by KPMG uncovered no need to restate earnings, but added all data needed to confirm past revenues could not be obtained. Wirecard hired the accounting firm in October, which has been looking into the payment processor’s third-party partner business, as well as business activities in India and Singapore. In a statement on Tuesday, ...

Bloomberg The German government has brought in SAP SE and Deutsche Telekom AG to help develop an app to trace Covid-19 infections as European governments look to national champions to help build solutions to the pandemic. “Deutsche Telekom and SAP will play their part in Germany and throughout Europe to ensure that European digital technologies are a central component in ...

Bloomberg Brazil’s Supreme Court gave the green light for a probe into allegations that Jair Bolsonaro tried to interfere with police investigations, adding to the president’s difficulties as the wheels come off Latin America’s biggest economy and his cabinet threatens to implode. Brazilian bonds dropped after the court decision, which presents Bolsonaro with his deepest political crisis to date. The ...

Beirut / WAM The Grand Mufti of the Republic of Lebanon, Sheikh Abdel Latif Derian, thanked the United Arab Emirates for its “confidence in Dar al-Fatwa to distribute the aid it received through its UAE embassy in Lebanon to those who are most in need and deserving of assistance.” Derian said, “It comes as no surprise from the UAE; known ...

BOGOTA / WAM Diplomats and local staff at the UAE Embassy in the Colombian capital of Bogota have donated food parcels containing nearly 15,000 meals to some 2,000 Colombian citizens. Salem Rashid Al Owais, UAE Ambassador to Colombia, oversaw the initiative, named, ‘The UAE is With You’, which encouraged embassy employees to donate a portion of their salary to citizens ...