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Abu Dhabi / WAM Abu Dhabi Department of Education and Knowledge (Adek) urged UAE-based technology innovators to sign up for YouthTech Competition 2020, the summer’s hackathon for entrepreneurial start-ups, before the application deadline closes on August 8. Open to applicants aged 18-29 years old, the YouthTech Competition 2020, run in partnership with accelerator StartAD and part of the Abu Dhabi ...

Dubai / WAM Dubai Electricity and Water Authority (Dewa) has announced that changes in its bank guarantee management process, as it becomes completely paperless. A press release issued by the authority on Sunday said that Dewa is the first government organisation in the UAE to achieve this step. Being paperless reduces the time needed to complete transactions by 80 percent, ...

Bloomberg Vitol Group paid a record $2.2 billion to its executives and staff through share buybacks last year, an unusually large payout that comes as the oil trader undergoes a generational transition in leadership. The buyback — Vitol’s main way of rewarding about 350 top employees who own the privately-held company — means the trading house has distributed a total ...

Bloomberg US Secretary of State Michael Pompeo condemned Hong Kong’s decision to delay its Legislative Council elections by a year and urged the city’s government to reconsider. “There is no valid reason for such a lengthy delay,” Pompeo said in a statement. “This regrettable action confirms that Beijing has no intention of upholding the commitments it made to the Hong ...

Bloomberg Argentina’s creditors have approached several international organisations to seek endorsement for a proposal to change the rules that govern some of the country’s overseas securities, according to people familiar with the matter. The International Monetary Fund (IMF), the US Treasury, the International Capital Market Association (ICMA) and the Institute of International Finance (IIF) are among the organisations that have ...

Bloomberg Siemens Healthineers agreed to buy Varian Medical Systems in cash in a transaction that values the medical equipment maker at about $16.4 billion, more than 20% above its current market value. The German company offered $177.5 a share for the Palo Alto, California-based business, which will be financed through both debt and equity, Siemens Healthineers said in a statement ...

Bloomberg Prime Minister Boris Johnson is considering sealing off Greater London and ordering at-risk members of the population to stay at home under a potential scenario designed to avert a second national lockdown, according to news reports on Saturday. Possible measures include locking down the capital if infection rates spike and tightening quarantine rules on those flying into the UK, ...

Bloomberg When it comes to helping employees balance work hours with relaxation, Acuity Insurance Chief Executive Officer Ben Salzmann has a unique tool at his disposal: a 65-foot Ferris wheel. Before the pandemic struck, Salzmann would regularly fire up the amusement-park staple inside the company’s Sheboygan, Wisconsin, headquarters. About twice a month, employees were invited to bring their families in ...

Abu Dhabi / WAM In line with the development vision of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and under the direction of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to ensure social stability and raise the quality of living for citizens in ...

ABU DHABI / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, has reviewed with Jeyhun Bayramov, Azerbaijani Foreign Minister, the strategic relations between the two countries in a number of areas including science, health, technology and education. This came over a phone call between the two diplomats, wherein HH Sheikh Abdullah congratulated ...