Emirates Business Agthia group, one of the region’s leading food and beverages companies, announced their partnership with the Emirates Red Crescent (ERC) with the aim to provide the delivery of staple food items to community members amidst the health situation. This Agthia ‘Wholehearted Giving’ CSR initiative is part of the group’s continued efforts to contribute to society and is being ...

FUJAIRAH / WAM Oil product stockpiles at the Middle East’s key oil hub of Fujairah rose 6.4 percent in the week, climbing to a record high for a second consecutive week as light, middle and heavy distillates all saw builds. Total product stocks were 27.859 million barrels, up from the previous high of 26.192 million barrels a week earlier, according ...

ABU DHABI / WAM Thursday will witness a global united effort where individuals from all walks of life and belief systems will come together in reflection and prayer. The Higher Committee for Human Fraternity (HCHF) initiated the ‘Prayer for Humanity’ call, inviting religious leaders and faithful around the world to a day of fasting, prayers and supplications for “the good ...

Bloomberg India will provide collateral-free loans worth $40 billion to boost liquidity for small businesses and help the economy tide over the coronavirus outbreak. The loans will benefit up to 4.5 million small businesses, Finance Minister Nirmala Sitharaman said in New Delhi on Wednesday. The program will be open until October 31. “Essentially this is to spur growth and to ...

DUBAI / Emirates Business Emirates has announced its plan to operate scheduled flight services from May 21 to nine destinations: London Heathrow Frankfurt, Paris, Milan, Madrid, Chicago, Toronto, Sydney and Melbourne.* The airline will also offer connections in Dubai for customers travelling between the UK and Australia. These flights will be available for booking on emirates.com. Travellers will only be ...

Bloomberg In China’s latest efforts to pit renewable energy against fossil fuels, it is again betting on size. Resources such as wind and solar don’t stand much of a chance if there isn’t a way to store energy when the wind doesn’t blow and the sun doesn’t shine. So some of China’s biggest state-owned companies are pouring in billions of ...

Bloomberg It will take more than a year, and perhaps several, for oil demand to recover to what it was before the coronavirus shuttered conomies and caused energy markets to collapse, according to the head of the International Energy Agency (IEA). Crude demand of about 100 million barrels a day prior to the pandemic plummeted by about 30% last month, ...

The US economy has taken a turn for the worse — much worse. The collapse of the job market in late April and early May raises the question (for which there is no clear answer) of whether the economy has fallen into a depression or, if not, faces a long stretch of slow growth, high unemployment and stagnating incomes. The ...

The gradual reopening of India’s economy after a 43-day coronavirus lockdown has been marred by a hyper-centralisation of decision-making. Deepening mistrust between New Delhi and the 28 states threatens to splinter the country’s common market of 1.3 billion people, its biggest draw for investors. With infections surging by nearly 50% to cross 70,000 since the shutdown was eased about a ...

When Boris Johnson said “we must act like any wartime government,” he also meant Britain must spend like one — and the prime minister has certainly lived up to the promise. His Chancellor of the Exchequer Rishi Sunak told Parliament that Britain had one of the most comprehensive financial relief plans for the Covid-19 outbreak anywhere in the world. That ...