August, 2020

• 19 August

  European stocks edge up after Wall Street record; gold drops

  

  Bloomberg European stocks turned higher with US futures as investors signalled continued optimism in the post-pandemic rally after shares hit all-time highs on Wall Street. Gold slipped back below $2,000 an ounce. Gains in food shares including Nestle SA countered declines in insurers on the Stoxx Europe 600 Index. Contracts on both the S&P 500 and Nasdaq 100 swings to ...

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• 19 August

  Dollar sinks to lowest level since May 2018

  

  Bloomberg The dollar sinks to its lowest level since May 2018 on concern that the world’s biggest economy will struggle to regain momentum amid a standoff over further virus relief and as infections continue to mount. The greenback has now erased most of the gains it built on the back of US-China trade tensions that started heating up around two ...

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• 19 August

  Oil rises on signals of economic recovery

  

  Bloomberg Oil jumped to a five-month high alongside a surge in US equities as optimism that an economic recovery may be on the horizon lifted hopes for improving fuel demand to follow. Equities in the US, Europe and Asia strengthened, with the S&P 500 Index approaching the highest in months, bolstered by fresh stimulus out of China’s central bank. A ...

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• 19 August

  DIFC launches new licence for start-ups

  Dubai / WAM Dubai International Financial Centre (DIFC) announced the launch of a new license for startups, entrepreneurs and technology firms. The new “Innovation License” will attract new types of businesses to the centre and is a key initiative for the Dubai Future District, which was announced in January, said a DIFC press release. The new license will support innovation, ...

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• 19 August

  Abu Dhabi to have 140 new public buses

  Abu Dhabi / WAM The Integrated Transport Centre (ITC) of the Department of Municipalities and Transport announced that 140 new public buses will be operated in the emirate of Abu Dhabi aimed at improving the quality of services offered to the public transport sector users. In Abu Dhabi City, 112 buses will be operated and 28 buses will be operated ...

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• 19 August

  VP reviews ministry of economy’s post Covid-19 plans

  

  Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, said that the top priority of the UAE’s economy is to be fastest recovering economy in the world, and to be the most stable and diversified economy on the long term. HH Sheikh Mohammed also said that the ...

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• 19 August

  Khaled bin Mohamed bin Zayed sets R&D priorities for Abu Dhabi

  

  Abu Dhabi / WAM His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Member of the Abu Dhabi Executive Council, Chairman of Abu Dhabi Executive Office, and Chairman of the Board of Abu Dhabi’s Advanced Technology Research Council (ATRC) led the first board meeting for ATRC, to set the R&D priorities for the emirate. ATRC is mandated to guide ...

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• 19 August

  ADIO, ADQ join forces to boost Abu Dhabi’s start-up ecosystem

  

  Abu Dhabi / WAM The Abu Dhabi Investment Office (ADIO) and ADQ on Tuesday announced a new collaboration to further strengthen Abu Dhabi’s digital economy and start-up ecosystem, including transferring the Ventures Fund, a flagship Ghadan 21 initiative, to ADQ. As part of their collaboration, ADQ and ADIO will also create winning propositions for companies using a combination of equity ...

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• 19 August

  Dubai Customs handles 10m bags at Dubai airports in H1

  

  Dubai / WAM Dubai Customs Passenger Operations Department revealed that it has handled 10.2 million pieces of baggage for five million passengers through 44,358 Dubai-bound flights during the first half of this year. Thanks to the vigilance of customs officers with support from the sophisticated scanning equipment, as many as 472 seizure reports were issued during the same period, including ...

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• 19 August

  UAE extends amnesty for people with expired visas till November 17

  

  Abu Dhabi / WAM The Federal Authority for Identity and Citizenship (ICA) issued a decision to extend the amnesty granted by the President His Highness Sheikh Khalifa bin Zayed Al Nahyan, for violators of the Law on the Entry and Residency of Foreigners for three months effective August 18 through November 17 to enable them to leave the country and ...

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