Abu Dhabi / WAM The United Arab Emirates is mourning the death of HH Sheikh Hamdan bin Rashid Al Maktoum, who passed away on Wednesday aged 76. HH Sheikh Hamdan witnessed all stages of the UAE’s journey and tremendously contributed to the national development drive. He was one of the country’s leaders and participated in its renaissance and in designing ...

DUBAI / WAM Reem bint Ibrahim Al Hashemy, Minister of State for International Cooperation, and Director General of Expo 2020 Dubai, has said that Expo 2020 Dubai and its employees offer their sincere condolences to His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai and the Ruling Family, on the sad ...

ABU DHABI / WAM Abu Dhabi Commercial Bank (ADCB) recommended a cash dividend of AED 0.27 per share, translating to a pay-out of AED1.878 billion, or 49% of the net profit for 2020. This came as the ADCB held on Wednesday its 36th Annual General Assembly virtually, in its head office building in Abu Dhabi. The meeting was chaired by ...

Al AIN / WAM The College of Medicine and Health Sciences in United Arab Emirates University (UAEU), and Burjeel Hospital & VPS Healthcare, will cooperate to develop updated evidence-based medical education programmes, following the signing of a Memorandum of Understanding (MoU). Zaki Nusseibeh, Cultural Advisor to HH the President of UAE, Chancellor of the UAEU, witnessed the signing ceremony between ...

Bloomberg The blockage of the Suez Canal by a giant container vessel is likely to send ripples of disruption through the global energy supply chain. European and US refiners that rely on the vital waterway for cargoes of Middle Eastern oil may be forced to look for replacement supplies should the blockage persist, potentially boosting prices of alternative grades. At ...

Bloomberg One of the last countries in the world to support coal-fired generation overseas is considering financing new capacity in Bangladesh. The Japan International Cooperation Agency (JICA) said in an email it’s conducting an environmental and social impact assessment for an expansion to the Matarbari power plant. JICA already agreed to finance the first 1.2 gigawatt phase of the project that ...

Bloomberg The UK government said it reached an agreement with country’s oil and gas industry that will help safeguard jobs as the nation strives to achieve net-zero emissions of greenhouse gases. The North Sea transition deal sets out a path to attract investment into renewable energy, carbon-capture and storage, and hydrogen. Spending of as much as $22 billion by 2030 ...

For the past year, an assumption — sometimes explicit, often tacit — has informed almost all our thinking about the pandemic: At some point, it will be over, and then we’ll go “back to normal.” This premise is almost certainly wrong. SARS-CoV-2, protean and elusive as it is, may become our permanent enemy, like the flu but worse. And even ...

The Covid-19 pandemic and the extraordinary stimulus unleashed has re-written the role of central banks. Now that economic recovery is picking up, there’s a global tussle over the spoils and just how much power monetary authorities have to surrender. Battle lines draw little distinction among regions and whether an economy is emerging or developed, rich or poor. In New Zealand, ...

If at first you don’t succeed with an IPO, try again with a special purpose acquisition company. Having failed abysmally when trying to go public the traditional way in 2019, office-space provider WeWork Cos is reportedly in talks to merge with BowX Acquisition Corp and thereby join the stock market. A SPAC transaction has obvious appeal. Merging with a $480 ...