May, 2020

• 27 May

  Japan’s bond issuance to exceed $2tn this year

  

  Bloomberg Japan’s government increased the amount of debt it plans to issue this fiscal year for the third time in under two months, seeking to fund its unprecedented economic stimulus. Issuance will surge to 212.3 trillion yen ($2 trillion) in fiscal 2020, according to a plan released by the Ministry of Finance on Wednesday. That’s versus 152.8 trillion yen estimated ...

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• 27 May

  EU to propose $826bn fiscal stimulus package

  

  Bloomberg The European Commission unveiled an unprecedented stimulus plan to tackle the worst recession in living memory and underwrite struggling Italy’s membership of the 27-nation bloc. The government in Rome stands to receive 82 billion euros ($90 billion) in emergency grants and up to 91 billion euros in low-interest loans from the package that could be worth as much as ...

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• 27 May

  Oil drops from 11-week high with Russia set on easing cuts

  

  Bloomberg Oil declined from the highest settlement in 11 weeks on signs Russia is supporting plans to start easing supply cuts from July, while tensions between the US and China escalated amid the specter of sanctions. Futures fell 1% in New York. Moscow wants to scale back curbs in line with the Opec+ deal, according to people familiar with the ...

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• 27 May

  Sharjah reopens leisure, eco-tourism destinations

  

  SHARJAH / WAM Sharjah Investment and Development Authority (Shurooq) has announced the completion of a sterilisation drive across its properties, and opened its doors to their popular leisure and entertainment destinations, Al Qasba, Al Majaz Waterfront, Al Noor Island, the Flag Island, Heart of Sharjah, Mleiha Archaeological & Ecotourism Project, Khorfakkan Beach, Maraya Art Centre and 1971-Design Space. In addition, ...

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• 27 May

  DSOA carries out 3,000 transactions remotely since mid-March

  

  DUBAI / Emirates Business Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis (DSO), announced the completion of more than 3,000 transactions worth approximately AED10 million in two months, from mid-March to mid-May this year, while working remotely. In addition to the existing 395 smart services available online, through the customer service portal, DSOA launched seven new ...

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• 27 May

  UAE sends medical aid to Tajikistan to fight coronavirus

  

  Abu Dhabi / WAM The United Arab Emirates on Wednesday sent an aid plane containing 10 metric tons of medical supplies to the Republic of Tajikistan to bolster the country’s efforts to curb the spread of the coronavirus (Covid-19). The aid will assist approximately 10,000 medical professionals as they work to contain the virus. Commenting on the aid delivery, Dr ...

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• 27 May

  Dubai Financial Services Authority to host RegTech Live event

  

  DUBAI / Emirates Business The Dubai Financial Services Authority (DFSA) will be hosting a virtual event on June 2-3. The event, RegTech Live: Driving Compliance Through Innovation, will be held in partnership with the Dubai International Financial Centre Authority (DIFCA). The DFSA wishes to promote and foster innovation in the Dubai International Financial Centre (DIFC), in line with Dubai’s National ...

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• 27 May

  SCCI issues 4,527 e-‘certificates of origin’

  

  SHARJAH / WAM The Sharjah Chamber of Commerce and Industry (SCCI) announced that it had issued 4,527 electronic ‘Certificates of Origin’ for the months of March and April. It noted that the total number of memberships had reach 1,251 by the end of April, with 46 new memberships and 1,169 renewed memberships. The number of new members from the free ...

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• 27 May

  Hydrogen primed for key role in world’s greenest stimulus plan

  

  Bloomberg Europe is betting on emissions-free electricity for big industry in its economic recovery package, drafting measures to scale up the production of hydrogen. The world’s most climate-ambitious stimulus package, which was to be unveiled on Wednesday, is poised to earmark tens of billions of euros for hydrogen technology as well as infrastructure for clean energy. European Commission President Ursula ...

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• 27 May

  ‘Floating wind’ gets $22m boost from Tokyo Gas

  

  Bloomberg Japanese natural gas company Tokyo Gas Co Ltd has made a bet that the future of renewable power will be floating at sea. The more than $22 million investment in developer of floating platforms for wind turbines Principle Power Inc is a sign that fossil fuel companies are continuing to invest to prepare their businesses for a low-carbon future. ...

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