Abu Dhabi / WAM The UAE government announced that mosques, prayer spaces, and other places of worship will gradually reopen nationwide from July 1 and operate at 30 percent capacity. The development comes in coordination with relevant federal and local authorities who continue to take all considerations for precautionary and preventive measures. However, prayer spaces located on motorways, industrial areas, ...

DUBAI / WAM flydubai, the Dubai-based airline, announced a partnership with its passengers as the airline prepares to return to the skies following the lifting of the flight restrictions in the UAE. Ghaith Al Ghaith, Chief Executive Officer of flydubai, said: “The effectiveness of the response to the pandemic led by the UAE Government has enabled the flight restrictions to ...

DUBAI / WAM Nasdaq Dubai has announced that it welcomed the listing on Tuesday of a $300 million sukuk issued by Dubai Islamic Bank (DIB). The issuance was a tap on a $1 billion Sukuk that listed on Nasdaq Dubai on June 16. Dubai Islamic Bank earmarked the funds raised to support its customers and the business community as economies ...

DUBAI / WAM The Telecommunications Regulatory Authority (TRA) and the International Telecommunication Union (ITU) announced the signing of an agreement to establish an International Centre of Digital Innovation, known as I-CoDI. I-CoDI will help ITU Members, Sector Members and other key stakeholders to integrate innovation into their national development agendas and activities. The centre, to be based in Geneva, Switzerland, ...

Sharjah / WAM The Sharjah Book Authority (SBA) announced that the entirety of the 14,625 square metre exhibitor space at the Sharjah Expo Centre has been sold out, with thousands of purchases by publishers from across the world for the 2020 edition of the Sharjah International Book Fair (SIBF) which is scheduled for November. For industry professionals worldwide, SIBF is ...

Bloomberg China’s state-owned oil refining giants are in discussions to form a purchasing group to buy crude together, increasing their bargaining power and avoiding bidding wars. Senior executives from China Petroleum & Chemical Corp, PetroChina Co, Cnooc Ltd and Sinochem Group Co are in advanced talks to iron out details of the plan, said people familiar with the initiative, who ...

Bloomberg BP Plc agreed to sell its chemicals business to Ineos Group Holdings SA, taking a big step in its transition away from being a traditional oil company, while also raising vital funds. The announcement comes just months after new Chief Executive Officer Bernard Looney set the London-based energy giant on course to eliminate its carbon emissions by 2050, a ...

Bloomberg Korea Electric Power Corp (Kepco) approved a plan to participate in an Indonesian coal power project despite mounting global pressure to move away from the most-polluting fossil fuel. The board of directors on Tuesday cleared the $51 million purchase of a 15% stake in the joint-venture developing the Jawa 9 & 10 project, according to a company spokesman. The ...

Bloomberg Sasol Ltd expects binding bids within weeks for its stake in a natural gas pipeline running from Mozambique to South Africa, as the company accelerates asset sales to pay off debt, according to people familiar with the process. The bidding round underway for the Rompco 865-kilometre (537-mile) gas pipeline stake concludes in late July, according to two of the ...

The road to a successful reopening of the US economy is strewn with hopeful intentions — and formidable obstacles. The biggest and most important obstacle is a surge in new coronavirus cases, which presumably will lead to more hospitalisations and more deaths as well as more firms shutting down. The closings will reflect lost customers who are either sick or ...