December, 2020

• 24 December

  UK, Canada reach stopgap deal to avoid tariffs

  Bloomberg The UK and Canada reached a temporary agreement to prevent tariffs on goods and services between the two countries starting on January 1, when the UK will no longer be covered by Canada’s trade deal with the European Union. In a statement by the Canadian foreign affairs ministry, the governments said they agreed to continue giving each other’s products ...

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• 24 December

  US shoppers favour websites over stores ahead of Christmas

  

  Bloomberg American shoppers shunned stores and extended their online binge during the last weekend before Christmas, adding to a package-delivery logjam that’s now reaching a crescendo. There’s “a lot of stuff all hitting at once,” said Craig Johnson, president of Customer Growth Partners. “I think it’s past the time for creative. They have to charge people extra to get it ...

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• 23 December

  Rupee, bonds joining stocks rally may add to India’s policy woes

  

  Bloomberg Indian debt and rupee may lure overseas investors in 2021, just like the nation’s equities with one caveat: the central bank will face more challenges in curbing the local currency’s gains against the greenback. Stocks have already attracted the biggest yearly inflows since 2012, adding to the woes for the Reserve Bank of India (RBI) that has been buying ...

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• 23 December

  Europe stocks gain with US futures; dollar dips

  

  Bloomberg European stocks rise after trade and transport links between the UK and its neighbours looked set to resume and Brexit negotiators made a final push for a deal. The Stoxx 600 Index rises as France agreed to end a suspension that crippled Britain’s busiest port after a new virus variant sparked more severe lockdowns. The pound advanced as the ...

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• 23 December

  UN declares ‘International Day for Human Fraternity’

  

  NEW YORK / WAM The United Nations General Assembly has adopted by consensus a resolution proclaiming February 4 as “International Day for Human Fraternity.” The initiative was introduced by the United Arab Emirates, Bahrain, Egypt and Saudi Arabia, and as a result the international community will observe International Day for Human Fraternity annually beginning in 2021. Prior to the adoption ...

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• 23 December

  Abu Dhabi Taqa secures funding for world’s largest solar plant

  

  ABU DHABI / WAM Abu Dhabi National Energy Company (Taqa) — alongside partners Masdar, EDF Renewables and JinkoPower — announced on Tuesday the successful financial closing of the Al Dhafra Solar Photovoltaic (PV) Independent Power Producer (IPP) project. The record-breaking project, located approximately 35 kilometres from Abu Dhabi city, will have a capacity of 2 gigawatts (GW) and will supply ...

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• 23 December

  UAE gets its first crypto library at Abu Dhabi’s TII

  

  ABU DHABI / WAM Abu Dhabi’s Technology Innovation Institute (TII), the applied research pillar of the Advanced Technology Research Council (ATRC), announced on Tuesday that its Cryptography Research Centre (CRC) has built the UAE’s first national and sovereign crypto library. The milestone is set to enable the country to safeguard vital and confidential sources of information. The development follows a ...

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• 23 December

  UAE embassy distributes 10,000 food parcels in Lebanon

  ABU DHABI / WAM The UAE embassy in Beirut, in cooperation with the Zayed Charitable and Humanitarian Foundation, has launched an initiative aimed at distributing 10,000 food parcels and 60 wheelchairs in Lebanon. The initiative is in cooperation with civil society organisations registered with the Lebanese Ministry of Interior, municipalities, and care homes for elderly people. The gesture is part ...

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• 23 December

  Oil’s slump deepens as new virus strain threatens demand

  

  Bloomberg Oil extended this week’s slump on fears that rising virus infections and a faster-spreading strain will inflict a new blow on fuel consumption. Futures are down more than 3% in New York. Many countries have suspended travel with the UK, where a new Covid-19 variant is forcing more than 16 million people to stay at home. A resurgence of ...

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• 23 December

  EGA, Inalum ink deal for smelter upgrade

  

  JAKARTA / WAM Emirates Global Aluminium (EGA) has signed a series of agreements with PT Indonesia Asahan Aluminium (Inalum) to provide technological know-how to upgrade the Indonesian company’s aluminium smelter in North Sumatra. The signing was part of Indonesia UAE Week, organised by the two countries’ embassies to further deepen economic ties between the UAE and Indonesia. EGA will provide ...

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