Bloomberg Oil climbed to the highest level since early March in London as hopes for an economic recovery from the coronavirus crisis lifted financial markets. Brent futures rose 2.8% as European Union leaders agreed on an unprecedented stimulus package to pull their economies out of the worst recession in memory, while results of early trials of a virus vaccine developed ...

Abu Dhabi / WAM Etihad Cargo, the cargo and logistics arm of the Etihad Aviation Group, is set to streamline regulatory compliance screening processes for shipments via a new partnership with E2open, a leading provider of intelligent supply chain solutions. Scheduled to be fully operational by November, the E2open application implementation will enable Etihad Cargo to automate cargo screening against ...

Dubai / WAM The Dubai Silicon Oasis Authority (DSOA) the regulatory body for the Dubai Silicon Oasis (DSO) announced the launch of the second phase of the AI-powered chatbot, “HADI”, including the expansion of the list of smart services available online, to facilitate providing support remotely to customers, residents, business partners. In 2019, the DSO was the first free zone ...

Dubai / WAM The Ministry of Finance (MoF) signed a memorandum of understanding (MoU) with Sharjah Media City, Shams, on the exchange of information for tax purposes, as part of the UAE’s tax agreements. Younis Haji Al Khoori, Under-Secretary of the Ministry of Finance and Dr. Khalid Omar Al Midfa, Chairman of Sharjah Media City (Shams) signed the agreement virtually. ...

ABU DHABI / WAM The Department of Culture and Tourism – Abu Dhabi, DCT Abu Dhabi, has launched ‘Picture Yourself in Abu Dhabi’ initiative in order to take full advantage of the current proliferation of remote communication and video conferencing applications due to the Covid-19 pandemic. The initiative, which has been rolled out for Abu Dhabi Government entities, gives users ...

ABU DHABI / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted over 40,000 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 treatment. ...

ABU DHABI / WAM The Abu Dhabi Police has booked 22,162 violators in the first half of this year for not wearing seat belts. The ADP’s Traffic and Patrols Directorate is urging both motorists and passengers to wear seat belts for the safety of road users. According to Article (51) of the implementation regulations of the Federal Traffic Law No. ...

Dubai / WAM The Dubai Gold and Commodities Exchange (DGCX) announced that it has partnered with American University of Sharjah (AUS) to foster the next generation of professionals across the finance sector. Through the collaboration, the DGCX will offer AUS undergraduate students the opportunity to participate in an internship programme and educate them about how the DGCX operates and the ...

Bloomberg Vattenfall AB took a massive hit on the value of a new German coal plant in yet another sign of how the fossil fuel is struggling in Europe. The Swedish utility wrote down the value of the Moorburg facility in Hamburg by 9.1 billion kronor ($1 billion), according to its first-half earnings statement on Tuesday. The plant opened in ...

Bloomberg India’s Vikram Solar Ltd is planning to invest 54.32 billion rupees ($726 million) to make solar energy equipment in the South Asian country, which is encouraging domestic manufacturing to reduce imports. The company will build a factory in the southern Tamil Nadu province, the state government said. The 3-gigawatt plant, expected to be completed in five years, will make ...