May, 2020

• 30 May

  BMW looks to add more incentives to employees

  

  Bloomberg BMW AG is negotiating with unions about giving more incentives to workers to persuade them to leave, helping the carmaker reach a target of eliminating about 5,000 positions. The German firm has been unable to meet its headcount-reduction goal with existing measures, CFO Nicolas Peter said. Those have included placing employees on unpaid leave and reducing working hours for those ...

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• 30 May

  Volvo XC90: The most stylish SUV you can buy today

  

  Bloomberg The most stylish SUV you can buy today is, yes, a Volvo. Others may be more exciting (Lamborghini Urus), more athletic (Porsche Cayenne), more luxurious (Mercedes-Benz GLE), or more conscientious (Tesla Model X). But only the 2020 Volvo XC90 possesses that rare combination of restraint, comfort, attention to detail, and heritage that translates into true style. Yes, even in ...

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• 30 May

  Volkswagen expands in China, US

  Bloomberg Volkswagen AG struck deals with two Chinese companies and deepened cooperation with Ford Motor Co., broadening its strategic footprint as the coronavirus sparks the worst economic contraction in decades and internal tensions rise. The German manufacturer will become the biggest shareholder of battery company Guoxuan High-Tech Co. and closed in on a 50% stake in a Chinese electric-vehicle partner. ...

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• 28 May

  DP World joins TradeLens to digitise global supply chain

  

  Dubai / WAM DP World has announced the completion of the early stages of the integration with TradeLens, a blockchain-based digital container logistics platform, jointly developed by A.P. Moller – Maersk and IBM. The collaboration between DP World and the TradeLens platform will help accelerate the digitisation of global supply chains. DP World aims to connect all its 82 marine ...

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• 28 May

  National banks invest $54.4m in stock markets

  

  Abu Dhabi / WAM National banks invested AED200 million ($54.45 million) in local stock markets in April after stock prices reached attractive levels, an increase of 2.2 percent compared to March. This investment led to an increase in the prices of many stocks, which positively affected general indexes over the past weeks. Attractive stock prices encouraged individuals and traders to ...

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• 28 May

  South Africa seeks funds for $20.5b infrastructure

  

  Bloomberg South Africa is seeking investments from multilateral lenders, commercial banks and pension funds in what a senior ruling party official said will be a $20.5 billion infrastructure program. The program will focus on “network industries such as rail and ports, energy, broadband connectivity, water, sanitation and human settlements,” Paul Mashatile, the treasurer-general of the African National Congress, said in ...

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• 28 May

  Oil slips for a second day on signs US stockpiles swelled

  

  Bloomberg Oil extended declines after an industry report showed US crude inventories swelled for the first time in three weeks. Futures fell 1.4% in New York, following Wednesday’s 4.5% decrease. The American Petroleum Institute reported that stockpiles expanded by 8.73 million barrels last week, according to people familiar with the data, raising questions about the strength of the market’s return ...

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• 28 May

  Arab coalition forces intercept Houthi drones targeting Saudi

  RIYADH / WAM An Unmanned Aerial Vehicle (UAV) launched by terrorist Houthi militia against civilian targets in Saudi city of Najran was successfully intercepted, Col Turki Al-Maliki, the official spokesman of the Arab coalition supporting Yemen’s legitimate government, said in statement carried by Saudi Press Agency (SPA). The Houthi militia continues to violate international humanitarian law by launching drones and ...

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• 28 May

  Covid-19: UAE reports 314 new recoveries

  ABU DHABI / WAM In line with the Ministry of Health and Prevention’s plans to increase Covid-19 testing throughout the country for the early detection of infections, particularly among those who had contact with already infected cases, the Ministry has conducted 38,000 additional tests. Testing resulted in the detection of 563 new cases among various nationalities, bringing the total number ...

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• 28 May

  ADFD delivers third shipment of educational supplies to Sudan

  

  ABU DHABI / WAM Abu Dhabi Fund for Development (ADFD) announced that it delivered the third shipment of classroom seating supplies to Sudan. Catering to the needs of 150,000 students across the country, the support aims to help Sudan advance its educational infrastructure. Taking the total value of assistance provided by ADFD to support the educational sector in Sudan to ...

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