November, 2020

• 19 November

  UK’s new green plan backs 250,000 jobs

  Bloomberg UK Prime Minister Boris Johnson announced a 12 billion-pound ($15.9 billion) plan to boost green industries and tackle climate change, in a blueprint he says will create or support as many as 250,000 jobs. As he seeks to relaunch his premiership and revive the economy, Johnson aims to use his plan for a “green industrial revolution” to deliver on ...

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• 19 November

  Maersk starts $1.6b share buyback as guidance raised

  

  Bloomberg AP Moller-Maersk A/S has launched a $1.6 billion share buyback program, as the world’s biggest container shipping company says the Covid crisis has so far dented its business less than feared. Copenhagen-based Maersk, which raised its guidance for a second time since October, reported a 39% increase in Ebitda to $2.3 billion in the third quarter. Profit by that ...

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• 19 November

  Europe stocks, US futures slip on coronavirus spread

  

  Bloomberg European stocks slipped with US futures as new virus cases continue to mount in major cities around the world. The Stoxx Europe 600 Index fell 0.2% and the Nikkei 225 Stock Average lost 1.1% after Tokyo reported a record number of new Covid-19 infections. Treasury yields and the dollar extended declines after Federal Reserve Chair Jerome Powell said the ...

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• 19 November

  Indian stock rally sputters amid high valuation, case rise

  

  Bloomberg Indian stocks were mixed, as investors weighed high valuations and surging coronavirus cases in some parts of the country against optimism that vaccines will soon provide an exit from the pandemic. The S&P BSE Sensex was little changed at 43,924.44 in Mumbai after falling as much as 0.3%, while the NSE Nifty 50 Index also traded flat. After reaching ...

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• 18 November

  UAE Armed Forces participate in joint military exercise in Egypt

  ALEXANDRIA / WAM Units from the UAE Armed Forces are participating in the joint military exercise, entitled, “Saif Al Arab,” held in Egypt and attended by many friendly countries. Dubbed “The Sword of Arabs”, the exercise began on Tuesday and will continue until November 26 at the Mohamed Naguib Military Base and other parts of the Northern Military Region. Over ...

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• 18 November

  Global oil demand remains resilient, says Adnoc CEO

  

  ABU DHABI / WAM Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Group CEO of the Abu Dhabi National Oil Company (Adnoc), has highlighted investment and partnership opportunities in the UAE during a panel session at the Bloomberg New Economy Forum. Speaking during the virtual session titled ‘The Rise of Regional Champions: The Search for ...

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• 18 November

  UAE extends grace period for visa violators till Dec 31

  ABU DHABI / WAM The Federal Authority for Identity and Citizenship (ICA), has issued a decision to extend the grace period of exemption for “all violators” of the entry and residence of foreigners law until December 31, 2020. The extension is for those who violated the entry and foreigners’ residence law before March 1, 2020 and will be exempted from ...

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• 18 November

  Abu Dhabi DoE-EAD talk to ensure sustainability

  

  ABU DHABI / WAM The Abu Dhabi Department of Energy, DoE, and the Environment Agency – Abu Dhabi, EAD, held a meeting recently to discuss the progress made by the joint taskforce they had formed to promote collaboration among them to ensure the sustainability of natural ecosystems and preserve the terrestrial and marine environment of the emirate. The taskforce was ...

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• 18 November

  Oil from Russia to US snapped up on Asia’s growing appetite

  

  Bloomberg Physical cargoes of crude oil from Russia, the US and the Middle East were getting snapped up at higher prices as buyers across Asia entered a bidding war to secure supplies. January shipments of Russian ESPO, a favourite among Chinese and Japanese refiners, were sold at a five-month high premium over Dubai prices after spot differentials for Sokol rose ...

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• 18 November

  Dubai-Oman bilateral trade reaches AED 37.9b in 2019

  

  DUBAI / WAM Trade between the Sultanate of Oman, which is the UAE’s second-largest trading partner in the Gulf, and the emirate of Dubai jumped 8.4 percent to AED 37.85 billion in 2019, compared to AED 34.9 billion in 2018. The Dubai-Oman bilateral trade stood at AED 14.85 bn from January to June 2020, according to latest figures released by ...

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