Uncategorized

Bloomberg Italy’s stimulus plans to cushion the economic impact of the coronavirus outbreak won’t be factored in when assessing the country’s compliance with the European Union’s fiscal rules, the bloc’s executive arm said. In a letter to the government in Rome, the European Commission’s top economic officials approved the recently announced spending plans, saying such one-off measures won’t be considered ...

Bloomberg The UK market watchdog wants big British public companies to disclose more about their exposure to climate risks — or tell investors why they can’t. The proposal from the Financial Conduct Authority (FCA) is part of a growing effort by policy makers and money managers to confront how companies will manage the shift to a lower carbon economy. The ...

Bloomberg Record winter warmth around the globe has raised pressure on weather forecasters from utilities and financial markets that depend on models to work out the economic impact of climate change. Abnormally high temperatures led to billions of dollars of lost revenue for energy producers, which have curtailed fuel supplies because everyone from homeowners to heavy industry didn’t need as ...

Bloomberg President Donald Trump hosted Brazilian President Jair Bolsonaro for dinner at his Mar-a-Lago resort in Florida, where the two leaders discussed the US-led effort to oust Venezuelan President Nicolas Maduro. The two men are mutual admirers who won election by appealing to nationalist sentiment in their countries. Along with Venezuela, they spoke about a future trade deal, the Middle ...

DUBAI / WAM In implementation of the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to improve the Al Shandagha Roads Corridor to cope with the sustained urbanisation of the locality, the Roads and Transport Authority (RTA) has awarded a contract for upgrading the Falcon Junction. ...

ABU DHABI / WAM Two Chinese patients of new coronavirus, Covid-19, have recovered, bringing to seven the total recovered cases in the UAE, the Ministry of Health and Prevention (MoHAP) announced. With the latest recovery announcement of the two patients, aged 38 and 10, all members of the Chinese family are ”free” from the disease, MoHAP affirmed. The MoHAP also ...

DUBAI / WAM HH Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority, has thanked the UAE’s health authorities for their 24/7 commitment and efficiency in keeping the country’s travellers, communities and the cities safe during the new coronavirus (Covid-19) crisis. HH Sheikh Ahmed said: “We are conscious that as a country, which is a global travel ...

Abu Dhabi / Emirates Business The Executive Committee of the Abu Dhabi Exports Office (Adex) approved the allocation of AED 550 million ($150 million) to support the strategic expansion of the nation’s export businesses and continued diversification of the UAE economy. During the meeting, the committee discussed a number of requests to finance exports, as well as reviewed the strategies ...

Bloomberg Democratic presidential candidate Bernie Sanders said his competitor, Joe Biden, could beat President Donald Trump in November, but added that he would be the stronger general-election candidate. “We are the stronger campaign to defeat Donald Trump but you have not heard me say that I think that Biden cannot defeat Trump,” Sanders told reporters in Phoenix, Arizona, as he ...

Bloomberg China’s exports fell more than expected in the first two months of this year as the coronavirus outbreak led to extended holidays, depressed factory output, and blocked transport and movement across the country. Imports also declined, although increases in commodities purchases offset some of that. The drop in exports was a bigger-than-expected 17.2% in dollar terms, while imports declined ...