May, 2020

• 13 May

  Stocks in India soar after Modi pledges $265bn package

  

  Bloomberg Stocks in Asia’s third-largest economy jumped the most in almost two weeks after Prime Minister Narendra Modi said his government will spend a total of 20 trillion rupees ($265 billion) to help India weather the fallout of coronavirus pandemic. The S&P BSE Sensex index gained 2.5% to 32,164.6 as of 11:13 am in Mumbai. The Nifty 50 rose 2.5%. ...

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• 12 May

  Covid-19: Mohamed orders free tests for Emiratis, some expats

  

  ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has ordered coronavirus (Covid-19) free tests for the UAE citizens, in line with the preventive and precautionary measures taken by the UAE to contain the spread of the virus. According to a joint statement ...

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• 12 May

  Adnoc Distribution posts AED400m net profit in Q1

  

  ABU DHABI / WAM Adnoc Distribution, the UAE’s largest fuel and convenience retailer, announced on Tuesday its first quarter 2020 financial results, recording an underlying Ebitda of AED629 million, a growth of 4.7 percent. In a statement, the company noted net profit was AED 400 million for the quarter and cash flow generation “remained strong” with free cash flow of ...

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• 12 May

  FAB, Bahrain Clear ink depository agent pact

  

  ABU DHABI / WAM First Abu Dhabi Bank (FAB) signed a ‘Depository Agent Custodian’ agreement with Bahrain Clear to offer custody services at Bahrain Bourse to regional and international investors. According to a press statement issued by FAB on Tuesday, the agreement is “in line with Bahrain Clear’s efforts to enhance post-trade services and expand outreach to regional and global ...

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• 12 May

  ‘Sheikh Zayed is an icon of humanitarian action’

  ABU DHABI / WAM His Highness Sheikh Khalid bin Zayed Al Nahyan, Chairman of the Board of Zayed Higher Organisation for People of Determination (ZHO) said that the UAE’s Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan, is an icon of humanitarian action in both regional and international spheres. In a statement marking Zayed Humanitarian Day, Sheikh Khalid ...

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• 12 May

  Digital payments to hit $6.7trn by 2023

  

  Emirates Business Coronavirus has caused a significant impact on the way consumers shop and make payments. With social distancing rules in place, many of them have embraced contactless payments and digital wallets as a safer way to manage their money. According to data gathered by AksjeBloggen, the global digital payments market is expected to continue rising in the following years, ...

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• 12 May

  Covid-19: UAE reports 6,012 total recoveries

  ABU DHABI / WAM The UAE has conducted over 32,000 additional Covid-19 tests over the past few days in line with the Ministry of Health and Prevention’s plans to intensify virus screening in order to contain the spread of Covid-19. The accelerated investigative measures resulted in the detection of 783 new coronavirus cases among various nationalities, all of whom are ...

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• 12 May

  UAE welcomes Yemen’s donors conference hosted by Saudi Arabia

  Abu Dhabi / WAM The United Arab Emirates has welcomed the Yemen’s Donors Conference scheduled to be held on June 2 in Saudi Arabia. The event will be held virtually under the directives of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and Crown Prince Mohammed bin Salman. In a statement, the Ministry of Foreign ...

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• 12 May

  Xposure 2020 awards opens its registration

  

  SHARJAH / WAM Xposure International Photography Festival has announced opening registrations for the fifth edition of its annual ‘International Photography and Short Film Awards’ across a spectrum of genres and formats. Hosted by the Sharjah Government Media Bureau (SGMB) the 2020 edition of the Xposure international awards is now accepting entries online from photographers of all ages, backgrounds and experience ...

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• 12 May

  UAE excels in addressing crises, exceptional circumstances

  

  DUBAI / WAM Lt. General His Highness Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior, on Tuesday said that the UAE excels in dealing with all crises and exceptional circumstances and has made positivity the basis of its developmental drive. “This achievement is attributed to the leadership of President His Highness Sheikh Khalifa bin Zayed ...

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