Bloomberg Oil fell again as a fresh coronavirus outbreak in China, and increases in cases elsewhere, spurred concerns that a second wave of the virus will derail a nascent economic recovery. Futures traded near $35 a barrel in New York, sinking in tandem with equity markets, after losing 8.3% last week. Beijing closed the city’s largest fruit and vegetable supply ...

ABU DHABI / WAM The National Creative Relief Fund launched by the Ministry of Culture and Knowledge Development in May 2020 has announced financial grants to 87 creative individuals and Small and Medium Enterprises (SMEs) operating in the cultural and creative industries. The grants ranging between AED15,000 and AED50,000 are distributed among 50 individuals and 37 companies to help them ...

Dubai / WAM Dubai’s Roads and Transport Authority (RTA) announced that the use of Artificial Intelligence (AI) technologies, such as computer vision and machine learning algorithms, proved very effective in detecting and reporting violations of the coronavirus (Covid-19) preventive measures. Such monitoring covers physical distancing and wearing of face masks onboard taxis, whether for passengers or drivers. “AI technologies have ...

DUBAI / WAM Etihad Credit Insurance (ECI) announced the signing of a Memorandum of Understanding (MoU) with Bpifrance Assurance Export, the French Export Credit Agency, to explore, strengthen, and enhance the trade and economic cooperation between France and the UAE. The MoU was signed by Massimo Falcioni, CEO at ECI and Francois Lefebvre, General Manager of Bpifrance Assurance Export. The ...

ABU DHABI / WAM During the first half of 2020, the UAE continued supporting housing projects for citizens with the same momentum, despite the challenges imposed by the coronavirus (Covid-19) outbreak. The UAE adopted a comprehensive national strategy for developing the housing sector, to serve citizens and maintain stability and prosperity. The Follow-Up Committee of the Initiatives of the UAE ...

ABU DHABI / WAM The Abu Dhabi Health Services Company (Seha), obtained 402 blood plasma units from donors who recovered from the novel coronavirus (Covid-19) which were used to treat 247 infected patients until the end of May 2020. The number of blood samples drawn from donors in Abu Dhabi reached 18,811 from two of Seha’s blood banks in the ...

DUBAI / WAM The Dubai Diamond Exchange (DDE) is open for business and ready to host regular activities, including tenders, in line with the easing of restrictions across the emirate, it was announced. In a statement, DDE said the facility where it is located, DMCC (the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise), ...

ABU DHABI / WAM The Abu Dhabi International Book Fair (ADIBF’s) Virtual Session series came to an end with an interview with fashion journalist and author Hafsa Lodi about her new book Modesty: A Fashion Paradox. During the talk, titled ‘How Journalism, Social Media and Storytelling Combine in Modesty: A Fashion Paradox’, Lodi examined how the modest fashion trend has ...

Dubai / WAM The UAE Space Agency and the United Nations Office for Outer Space Affairs (UNOOSA) held a digital signing ceremony on Monday to discuss the creation of an international UNOOSA project office in Abu Dhabi. The meeting comes in an effort to increase collaboration on the long-term sustainability of space activities and promote the use of space for ...

Bloomberg Extraction Oil & Gas Inc filed for bankruptcy with plans to hand ownership to its creditors, becoming the latest producer to succumb to the energy industry’s slump. Some of Extraction’s noteholders agreed to swap unsecured debt for equity, according to a statement. The Denver-based company sought court protection in Delaware after skipping a May 15 interest payment on its ...