Abu Dhabi / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted 162,774 additional Covid-19 tests over the past 24 hours, using state-of-the-art medical testing equipment. In a statement on Monday, the ministry stressed its aim to continue expanding the scope of testing nationwide to facilitate the early detection of coronavirus cases and carry out the necessary ...

Bloomberg A record year for renewable power in the UK showed the need for a broader suite of green technologies to balance the grid once fossil fuels fade away entirely. Green power exceeded coal and gas generation in the country’s energy mix for the first time in 2020. While this is a step in the right direction to hit strict ...

Bloomberg Global oil markets have rebalanced following last year’s historic collapse in demand, according to Russia’s deputy prime minister. “The last few months we have seen low volatility, which means the market is balanced, and the prices we see today certainly correspond to the situation in the market,” Alexander Novak said on state television channel Rossiya 1. Crude will probably ...

Federal Reserve Chair Jerome Powell is nobody’s idea of a radical. But in his speech last week to the Economic Club of New York, he articulated an idea that upends generations of conventional wisdom and sets the stage not only for the Fed’s approach to the current economic crisis but also for President Joe Biden’s. “A strong labour market that ...

Ursula von der Leyen did the right thing last week after she’d tried everything else. The European Commission president finally apologised for the failings of the continent-wide vaccine procurement scheme. It followed an unseemly few weeks of battle over the vaccine, during which Von der Leyen scapegoated the Anglo-Swedish pharma company AstraZeneca Plc for supply holdups and threatened to close ...

Time to stop trash-talking inflation. Forecasts for a decent pickup in the pace of price increases ought be welcomed, and we’re a long way from the bad old days of the 1970s. While measures of US inflation gained at the end of last year, they are well below levels desired by the Federal Reserve. In China, consumer prices unexpectedly fell ...

In India, tens of thousands of farmers drawn from several northern states have camped outside Delhi since November, demanding the repeal of three new laws meant to liberalise the country’s agriculture sector. Prime Minister Narendra Modi’s government shouldn’t give in, but it ought to address the deeper worries behind the protesters’ complaints. The standoff is growing more tense. Protests turned ...

Bloomberg Air Canada’s former top executive is growing more optimistic about the chances of a government aid package, as a prolonged travel slump forces the Montreal-based airline to further cut capacity. Canada’s biggest carrier said it expects to burn as much as C$17 million ($13.4 million) in net cash per day this quarter and reported fourth-quarter revenue that trailed analysts’ ...

Bloomberg UK leisure airline Jet2 Plc raised 422 million pounds ($582 million) in new equity, adding to its cash reserves with travel virtually shuttered. The new shares, representing about 20% of the carrier’s stock, were sold at 1180 pence each, a 9.1% discount from the closing price, Jet2 said in a statement. “We estimate that Jet2 can now endure a ...

Bloomberg Under Armour Inc’s sales beat expectations in the fourth quarter as the athletic-apparel maker benefited from e-commerce demand and made progress on its restructuring program, sending the shares higher. Revenue in the period ended on December 31 fell 3% to $1.4 billion, topping the $1.26 billion average of analyst estimates compiled by Bloomberg. E-commerce sales jumped 25%. Under Armour ...