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Bloomberg The International Monetary Fund’s (IMF) executive board approved $5 billion of aid to Ukraine, the culmination of months of talks that grew more urgent as coronavirus pandemic struck. The Washington-based lender will disburse the first $2.1 billion loan tranche immediately, according to an emailed statement. Ukraine needs money to help cover its budget deficit, which tripled as the government ...

Bloomberg The coronavirus pandemic is splintering the world economy, and the extraordinary action needed means policy makers cannot risk a premature withdrawal of lifelines to businesses and the most vulnerable people, the OECD warned. It made the grim assessment in its quarterly outlook, where it forecast a global slump of 6% this year, more than the World Bank earlier this ...

Bloomberg Europe needs to quickly deregulate its capital markets to encourage people to buy more stocks, according a panel of top industry executives. With massive amounts of debt being sold to counter the coronavirus recession and the European Union (EU) losing its financial hub in Brexit, the group said companies need greater access to equity investment now more than ever ...

Bloomberg A trade group for independent US restaurants said that its proposal for a $120 billion industry stabilisation fund would pay for itself more than twice over as the Republican-controlled Senate signals it wants the next response to the coronavirus crisis to be more limited. The proposed fund could generate more than $270 billion in economic activity through savings of ...

Dubai / WAM Leading trade enabler, DP World, UAE region and the autonomous vehicle, robotics and AI specialist (DGWorld) has entered a contractual agreement to equip Jebel Ali Port with a fleet of Autonomous Internal Terminal Vehicles (AITVs) including all related integrations in the existing operation processes and infrastructures. The contract signed between the two sides states that DGWorld will ...

ABU DHABI / WAM Abu Dhabi Emergency, Crisis and Disaster Committee for the Covid-19 Pandemic, in collaboration with Abu Dhabi Police and DoH, have announced that the Abu Dhabi movement ban is to be extended by one week. The ban covers movements between Abu Dhabi’s regions (Abu Dhabi, Al Ain and Al Dhafra) as well as in and out of ...

DUBAI / WAM Enoc Group has announced that it opened two new service stations in Lehbab and Al Qudra in Dubai. The opening of the two new service stations, both in key locations, takes the total number of ENOC service stations now in the UAE to 147. The Lehbab service station is conveniently located along Lehbab Road and will provide ...

DUBAI / WAM The Dubai Electricity and Water Authority (Dewa), announced on Tuesday that it will no longer purchase paper supplies, adding that it would refrain from using some 8.5 million sheets of paper for 2020. The move comes as part of the Dubai Paperless Strategy, which aims to use advanced technology to build an integrated paperless government framework. Commenting ...

ABU DHABI / WAM Al Hilal Bank — a wholly-owned subsidiary of Abu Dhabi Commercial Bank (ADCB) — has completed the sale of Al Hilal Takaful, its Islamic insurance subsidiary, to Siraj Holding LLC. In a statement by the bank on Tuesday, the divestment was driven by Al Hilal Bank’s strategic decision to focus on delivering high-quality retail banking services, ...

Dubai / WAM Emirates airline has received approvals to carry passengers on flights to Kabul in Afghanistan, starting from June 25, taking to 30 the total number of destinations currently offered to travellers. In addition to Kabul, flights to the following cities can be booked on emirates website or via travel agents: Bahrain, London Heathrow, Manchester, Frankfurt, Paris, Milan, Madrid, ...