Abu Dhabi / WAM The Ministry of Health and Prevention (MoHAP) announced on Sunday that it conducted 117,812 additional Covid-19 tests over the past 24 hours, using state-of-the-art medical testing equipment. In a statement, 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 ...

SHARJAH / WAM Sharjah Islamic Bank (SIB) has won the ‘Best Islamic Bank’ and the ‘Most Innovative Digital Bank’ award 2020, at the 8th International Finance Award (IFA) which highlights the achievements of all banks providing outstanding services across areas of innovation, infrastructure development and customer focus. The winners will be honoured during a ceremony due to be held early ...

DUBAI / WAM The Dubai International Financial Centre (DIFC) Courts has launched a new Arbitration Working Group, the first court in the region to introduce such an initiative. The panel of experts will be tasked with reinforcing and sharing developments and best-practices, encompassing an advisory team of arbitration professionals, bodies, centres, educational institutions, and industry-related organisations. Since its inception, the ...

Despite intermittent negotiations for three months, Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi have made remarkably little progress on a coronavirus relief plan that both Republicans and Democrats can accept. Wall Street is beginning to lose hope, and Main Street will soon run out of financial support. It’s time to call in Joe Biden. “I am the Democratic ...

The world’s one-time economic rebel now looks staid. Japan was the first mover in some of the most radical steps in monetary policy, so it’s troubling that officials have done far less than their peers since the pandemic tore through global growth. Time for Bank of Japan (BOJ) officials to forge the Next Big Thing. The third-largest economy on the ...

Pin up the artful balloon garlands and toss the custom glitter confetti: Etsy Inc is having a gangbusters year. The online marketplace for handmade, vintage and other creative goods, which joined the S&P 500 Index last month, is the best-performing stock in that group year to date: Like many of its e-commerce-focussed peers, Etsy benefited earlier this year when brick-and-mortar ...

Now that President Donald Trump has tested positive for Covid-19, the Department of Justice is almost certainly focussing on the 25th Amendment, which provides for the transfer of presidential authority to the vice president. No one who works for a sitting president wants to think about that amendment. But in any administration, worst-case scenarios get attention, and if the president ...

Bloomberg Changi Airport Group said the impact from the Covid-19 pandemic isn’t abating as officials behind the world’s best airport warned of a “daunting” period ahead. Passenger traffic for Changi for the fiscal year ended in March declined for the first time in more than a decade, as a slump in the last two months of the period wiped out ...

Bloomberg Malaysia Airlines Bhd has reached out to lessors, creditors and key suppliers as part of its “urgent” restructuring exercise as it sees little sign of the pandemic easing. The flag carrier, wholly owned by Malaysia’s sovereign wealth fund Khazanah Nasional Bhd, would take more drastic measures if the restructuring can’t be completed over the next few months, according to ...

Bloomberg President Donald Trump remains in a US military hospital outside Washington after contracting the coronavirus, a development that unnerved the White House and shook his struggling re-election campaign. The White House said his symptoms were mild and that he would continue to work from a suite at the Walter Reed National Military Medical Center in Maryland, but his hospitalisation ...