Bloomberg A trade group for independent US restaurants said that its proposal for a $120 billion industry stabilisation fund would pay for itself more than twice over as the Republican-controlled Senate signals it wants the next response to the coronavirus crisis to be more limited. The proposed fund could generate more than $270 billion in economic activity through savings of ...

Bloomberg Stocks in Europe advanced along with US equity-index futures after a mixed session in Asia Wednesday as investors awaited the Federal Reserve’s next move on monetary policy. The dollar headed for a three-month low against a basket of peers. Financial services and retailers led a broad advance in the Stoxx Europe 600 index. S&P 500 futures rose after the ...

Bloomberg Amid all the doubt surrounding Hong Kong’s future as a global financial hub, one thing is certain: the city’s stock market is an enticing target for the wave of cash that’s returning to the world’s equities. Rarely has the valuation case for the city’s shares been this compelling. Investors price the world’s fourth-largest bourse like a frontier market, with ...

ABU DHABI / WAM Group 42, a UAE-based artificial intelligence and cloud computing company, and Oxford Nanopore Technologies, an advanced sequencing technology company based in the UK, announced on Tuesday they have developed an unprecedented population-scale technology that rapidly and accurately detects Sars-CoV-2, the virus that causes Covid-19. The end-to-end solution will be officially launched within weeks. With ultra-high parallel ...

ABU DHABI / AGENCIES Masdar has signed an agreement with the Ministry of Investments and Foreign Trade of Uzbekistan and JSC National Electric Grid of Uzbekistan to design, finance, build and operate a 500-megawatt utility-scale wind farm project. The Power Purchase Agreement (PPA) and Investment Agreement was signed during a virtual ceremony by Sardor Umurzakov, Deputy Prime Minister and Minister ...

RAS AL KHAIMAH / WAM Gulf Pharmaceutical Industries, otherwise known as Julphar, has announced that the company’s exports to Bahrain and Kuwait will resume again. The announcement comes after the successful inspection of Julphar’s manufacturing facilities by the Gulf Health Council (GHC) and the Pharmaceutical and Herbal Medicine Registration & Quality Control Admin, Ministry of Health, State of Kuwait, Julphar ...

Bloomberg Oil traded near $38 a barrel in New York in choppy trading, as the market was caught between weaker equities and an ongoing market rebalancing. Futures whipsawed between gains and losses. While stock markets retreated and Saudi Arabia decided to end additional supply curbs this month, there are signs of a broader rebalancing. US crude inventories are forecast to ...

Bloomberg France unveiled an aerospace rescue plan to bolster European planemaker Airbus SE and its financially-strapped suppliers with measures aimed at preventing massive job losses and underpinning aircraft orders. The sweeping aid package laid out on Tuesday by Finance Minister Bruno Le Maire, worth about 15 billion euros ($17 billion), provides investment, payroll subsidies and credit guarantees to cushion the ...

Abu Dhabi / WAM As part of its leading humanitarian role in the fight against Covid-19, the UAE on Tuesday dispatched 72 tonnes of medical supplies to the Maldives to support efforts to curb the pandemic’s spread. The aid included critically-needed personal protective equipment and medical supplies expected to benefit more than 72,000 healthcare workers as they work to contain ...

Dubai / WAM Leading trade enabler, DP World, UAE region and the autonomous vehicle, robotics and AI specialist (DGWorld) has entered a contractual agreement to equip Jebel Ali Port with a fleet of Autonomous Internal Terminal Vehicles (AITVs) including all related integrations in the existing operation processes and infrastructures. The contract signed between the two sides states that DGWorld will ...