May, 2020

• 18 May

  Tesla says it has county nod to reopen plant

  Bloomberg Tesla Inc. told employees it received approval to resume operations at its factory after Elon Musk threatened to move the company’s headquarters and future programs following a move by a California county to block the reopening. The company said Alameda County’s interim health officer had approved its Fremont work plan and safe measures, according to an email sent to ...

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• 18 May

  This is where global investors are placing bets right now

  

  Bloomberg More than $8 trillion has been thrown at the Covid-19 crisis by governments around the globe and hundreds of billions more by central banks from Washington to Wellington. And that means investors are finding a swath of opportunities from investment-grade bonds to emerging-market equities. Looking where central banks themselves are buying, even if it’s been well flagged, still has ...

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• 18 May

  European stocks climb with US futures; oil, gold advance

  

  Bloomberg Stocks climbed in Europe alongside US equity futures on Monday as investors found reason for encouragement in signs businesses are reopening across major economies and after shares sank last week. Crude oil advanced. The Stoxx Europe 600 Index rose on gains in mining and travel shares, including airlines IAG SA and Ryanair Holdings Plc. S&P 500 contracts increased after ...

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• 18 May

  Rupee declines with India stocks as rescue package falls flat

  

  Bloomberg India’s rupee declined the most in two weeks, and stocks fell as investors were unimpressed by the government’s economic stimulus package. The rupee weakened as much as 0.5% in the third day of declines. The S&P BSE Sensex of stocks slid 2.8% at 2:50 pm in Mumbai, while the NSE Nifty 50 Index slipped by a similar magnitude. Both ...

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• 18 May

  Covid-19: Abu Dhabi University creates face shield prototype

  

  ABU DHABI / WAM The Abu Dhabi University (ADU) College of Engineering (COE) has rallied its engineering labs to join the fight against Covid-19, and by working closely with hospitals in Abu Dhabi produced over 1,000 clips required for face masks within just two days. Additionally, ADU has successfully developed its first prototype of a face shield to be provided ...

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• 18 May

  Etihad Rail’s second phase contracts valued at AED18b

  

  ABU DHABI / WAM Mohammed Rashid Al Marzouqi, Executive Director of Relations at Etihad Rail, stated that the total value of contracts for the second phase of its national railway network project amounted to AED18 billion. In his exclusive statement to the Emirates News Agency (WAM) Al Marzouqi said the project is progressing well, and Etihad Rail has begun construction ...

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• 18 May

  Nigeria opens money tap as oil revenue runs dry

  

  Bloomberg The government of Nigeria, whose revenue could be slashed by more than half this year due to the oil-price slump, finalised plans for a revised budget that keeps spending almost intact, and that will mean more borrowing. Finance Minister Zainab Ahmed got approval from the West African’s nation’s cabinet to go ahead with the new budget that cuts expenditure ...

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• 18 May

  Dubai renews 33,874 licences through auto renewal service

  Dubai / WAM The Auto Renewal service of Dubai Economy accounted for 68 percent of the trade licences renewed (49,997) during the first four months of this year. Among them 73 percent were commercial, and 24 percent were professional. The Business Registration & Licencing (BRL) sector in Dubai Economy also witnessed a 62 percent increase in auto renewal transactions during ...

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• 18 May

  Covid-19: Staycations, domestic travel key to GCC tourism recovery

  

  DUBAI / WAM Local tourism and domestic travel are expected to lead the UAE and wider GCC’s recovery from Covid-19 as we begin to see the easing of lockdown restrictions, according to the latest research released ahead of Arabian Travel Market (ATM) Virtual, a newly-launched three-day event that will take place from June 1-3. The research from Colliers International, in ...

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• 18 May

  MBRGI’s AED1.3 billion projects, initiatives benefit 71mn people

  

  ABU DHABI / WAM The Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI) touched the lives of 71 million people across 108 countries with AED 1.3 billion worth of humanitarian and social projects and relief campaigns in 2019. During the first-of-its-kind virtual event, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and ...

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