Bloomberg BP Plc slashed its dividend for the first time in a decade and set out new targets to accelerate its shift to greener energy after the coronavirus pandemic upended the oil business. The u-turn in its dividend policy was expected after European peer Royal Dutch Shell Plc slashed its own payout in April. Big Oil’s generous dividends have long ...
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Bloomberg Local administration imposed sweeping curbs on movement and the internet in India’s portion of the disputed Muslim-majority region of Kashmir ahead of the one-year anniversary of the revocation of seven decades of regional autonomy. The capital Srinagar was placed under curfew on Tuesday and Wednesday amid fears of violent protests from separatists who oppose the ending of the special ...
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Abu Dhabi / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, chaired the first physical meeting of the new cabinet at the Presidential Place in Abu Dhabi, after a series of remote meetings. At the beginning of the meeting, His Highness Sheikh Mohammed bin Rashid hailed UAE’s ...
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Sharjah / WAM Arada has awarded a major contract to build East Village, the second phase of Sharjah’s AED24 billion mixed-use district, Aljada. “Located in the heart of Aljada, the East Village community is targeted at the younger generation and comprises a series of apartment blocks that are characterised by fresh and bold designs. Featuring just under 2,000 units in ...
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HADRAMAUT / WAM The UAE has launched its 5th annual Adahi project (Eid sacrifices) in Yemen, which saw meat being distributed to thousands of underprivileged families around the country. Sheep from local markets were arranged for slaughter and distribution by the Emirates Red Crescent in the governorates of Hadramaut, Shabwa, Hodeidah and Taiz. Beneficiaries — which included widows and orphans ...
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Dubai / WAM The Dubai Real Estate Institute (DREI) in Dubai Land Department (DLD) is organising the first virtual real estate conference titled ‘Real Estate post-Covid-19 – Challenges and Solutions,’ in cooperation with a number of entities in Saudi Arabia. The conference, which will be held on August 23-24, will witness the participation of a group of real estate speakers ...
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Bloomberg Chinese officials are considering a proposal to sell bonds to pay renewable energy subsidies owed to developers, according to people familiar with the matter. Officials have reached out to renewable industry representatives for input on the plan, said the people, who asked not to be identified because the information isn’t public. State Grid Corp of China could be the ...
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Bloomberg A South Korean court is set to start liquidating assets of a Japanese company to compensate Koreans conscripted to work during colonial occupation, straining ties between two key US partners just as the Trump administration needs their help in countering China. A district court in the eastern city of Pohang will start a process on Tuesday to seize shares ...
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Dubai / WAM Nasser bin Thani Al Hamli, Minister of Human Resources and Emiratisation, and Sayed Zulfikar Bukhari, Special Assistant to the Prime Minister on Overseas Pakistanis and Human Resource Development, have discussed ways to boost cooperation and bilateral ties between the UAE and Pakistan in labour issues. During the meeting, which was held at the headquarters of the Ministry ...
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ABU DHABI / WAM The Emirates Nuclear Energy Corporation (Enec), announced that its operating and maintenance subsidiary, Nawah Energy Company (Nawah) has successfully started up Unit 1 of the Barakah Nuclear Energy Plant, located in the Al Dhafrah Region of Abu Dhabi, United Arab Emirates (UAE). This step is the most historic milestone to date in the delivery of the ...
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