June, 2020

• 3 June

  Google sued for secretly amassing vast trove of user data

  

  Bloomberg Google surreptitiously amasses billions of bits of information — every day — about internet users even if they opt out of sharing their information, three consumers alleged in a proposed class action lawsuit. “Google tracks and collects consumer browsing history and other web activity data no matter what safeguards consumers undertake to protect their data privacy,” according to the ...

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• 3 June

  Global stocks prolong rally; dollar drops to March low

  

  Bloomberg The global rally in stocks held its momentum on Wednesday as investors showed more optimism of quick economic recovery from the coronavirus pandemic. Treasuries dipped with gold, and a dollar gauge hit its lowest level since early March. Gains in insurance and auto shares pulled the Stoxx Europe 600 Index higher. Contracts on the S&P 500 Index rose along ...

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• 3 June

  India stocks climb to three-month high

  

  Bloomberg The rally in Indian stocks showed no signs of abating on Wednesday as investors continued to bet that easing of the nationwide lockdown will reboot economic growth. The rupee gained for a fourth day, while sovereign bonds were steady. The S&P BSE Sensex and the NSE Nifty 50 Index climbed 1.1% each as of 10:57 a.m. to the highest ...

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• 2 June

  EPMG, OLX set to merge to form AED3.6bn Dubai-based unicorn

  

  DUBAI / WAM Dubai-based Emerging Markets Property Group (EMPG) and OLX Group, owners of home grown technology firms Bayut and Dubizzle, have announced the merger of their Mena and South Asia operations to form an AED3.6 billion ($1 billion) Dubai-based unicorn company. The merger is the latest in a series of entrepreneurial successes that reinforce Dubai’s reputation as a global ...

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• 2 June

  Oil surges as investors eye extension of output curbs

  

  Bloomberg Oil rose past $36 a barrel as investors eyed a potential extension of record production curbs by Opec+ while physical markets showed renewed signs of tightness. Futures in New York rose around 2.7%. Russia and several producers in the Organisation of Petroleum Exporting Countries and its allies are said to favour an extension of one month to existing cuts, ...

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• 2 June

  Implement ICAO Covid-19 guidelines urgently: IATA

  GENEVA / WAM The International Air Transport Association (IATA) urged governments to quickly implement the International Civil Aviation Organisation’s (ICAO) global guidelines for restoring air connectivity. Today, the ICAO Council approved ‘Takeoff: Guidance for Air Travel through the Covid-19 Public Health Crisis,’ an authoritative and comprehensive framework of risk-based temporary measures for air transport operations during Covid-19 crisis, the IATA ...

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• 2 June

  DFM launches new smart services app

  DUBAI / WAM Dubai Financial Market (DFM) on Tuesday launched its comprehensive ‘DFM Smart Services App,’ strengthening its digital transformation as part of its ‘Smart Borse Strategy’. The new application combines features of both DFM App and DFM Services App. It has been substantially upgraded to include the features of both apps as well as new advanced features in a ...

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• 2 June

  Adex, SCCI partner to help Sharjah exporters expand global business

  

  Sharjah / WAM Abu Dhabi Exports Office (Adex) and the Sharjah Chamber of Commerce and Industry (SCCI) are partnering together on a strategic initiative to help boost exports from one of the leading manufacturing hubs in the region that provides a significant contribution to the UAE’s GDP. Adex, the UAE-wide export financing entity founded by Abu Dhabi Fund for Development ...

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• 2 June

  Adnoc Distribution opens 16 new sites so far in 2020

  

  ABU DHABI / WAM Adnoc Distribution has opened 16 new sites around the country so far this year, including five ‘Adnoc On the go’ neighbourhood stations in Abu Dhabi and five ‘traditional’ stations in Dubai. The UAE’s leading fuel and convenience retailer said the network expansion aims to “bringing everyday essentials closer to its customers.” In a statement on Tuesday ...

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• 2 June

  Loyal Emiratis are capable of defending our soil: FNC Speaker

  

  ABU DHABI / WAM In an exclusive interview with Al Jundi Journal, Saqr Ghobash, Speaker of the Federal National Council (FNC) said that the council was committed to upholding the values of UAE’s present leaders as well as the founding fathers. He explained how the council has helped the government confront the threat from the coronavirus and also how the ...

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