April, 2020

• 21 April

  Gap in talks for new bonds to get through Covid-19 crisis

  

  Bloomberg Gap Inc is in discussions to issue new bonds backed by assets including real estate as one financing option to get it through the coronavirus pandemic, according to people with knowledge of the situation. The talks with investors and banks would be for bonds backed by inventory and certain properties including distribution centres, the people said, asking not to ...

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• 21 April

  Nigeria extends closure of airports by two weeks

  Bloomberg Nigeria extended the closing of the West African nation’s airports for two weeks as it continues a lockdown to contain the coronavirus pandemic. The decision is subject to review when appropriate, Aviation Minister Hadi Sirika said in an emailed statement. Nigeria closed its international airports for one month on March 23, a week before President Muhammadu Buhari ordered a ...

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• 21 April

  US travel group sees lost sales of $520bn

  Bloomberg A US travel industry group estimates that lost revenue as a result of the coronavirus pandemic could approach $520 billion by the end of the year, with much of the tourism industry still depressed in December. The US Travel Association — which represents airlines and other transportation companies, local attractions, tourism bureaus and other parts of the industry — ...

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• 20 April

  Oil declines by record to below $11 with storage rapidly filling

  

  Bloomberg Oil suffered its biggest one-day price plunge in the modern era, at one point crashing about 40% to below $11 a barrel as traders contended with an historic glut. Despite Opec+’s unprecedented output deal agreed a week ago, the oil market remains massively oversupplied as the lockdowns to fight the spread of the coronavirus reduce global crude demand by ...

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• 20 April

  Dubai reports AED65.7mn in gloves, masks trade in Q1

  

  DUBAI / WAM Dubai Customs announced that its external trade of masks during the first quarter of 2020 reached AED60.5 million, compared to the 2019 yearly total of AED63.5 million. To meet the rising demand of masks and medical gloves, Dubai Customs took further steps and procedures to facilitate the trade of these items against the outbreak of Covid-19, the ...

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• 20 April

  UAE accomplishes achievements in smart services, digital shift

  ABU DHABI / WAM Hamad Obaid Al Mansoori, Director-General of the Telecommunications Regulatory Authority (TRA) stressed that the UAE has accomplished achievements in smart services and digital transformation, due to the future vision of its leadership and the efforts of government authorities, in cooperation with the private sector. Al Mansoori pointed out that the UAE’s telecom and information technology sector ...

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• 20 April

  Irena: Renewables can support resilient and equitable recovery

  

  ABU DHABI / WAM Advancing the renewables-based energy transformation is an opportunity to meet international climate goals while boosting economic growth, creating millions of jobs and improving human welfare by 2050, stated the first Global Renewables Outlook released by the International Renewable Energy Agency (Irena), on Monday. While a pathway to deeper decarbonisation requires total energy investment up to $130 ...

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• 20 April

  DMT sees 10% rise in building permits in Q1

  ABU DHABI / WAM The Department of Municipalities and Transport (DMT) announced that the number of building permits issued by its subsidiaries in the first quarter of this year increased by 10 percent compared to the same period last year to reach 2,563 permits for buildings in various vital sectors. According to the report by the Department of Municipalities and ...

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• 20 April

  Louvre Abu Dhabi brings digital experiences to audiences

  

  Abu Dhabi / WAM Louvre Abu Dhabi announced on Monday that it is adding to its current digital offering, providing free access to more content through virtual tours, video, audio and downloadable activities. This development brings Louvre Abu Dhabi’s stories of cultural connections — of its artworks and exhibitions — to audiences around the world, ensuring that the museum remains ...

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• 20 April

  Emirates SkyCargo’s e-commerce platform witnesses strong demand

  

  Dubai / Emirates Business Emirates Delivers, the e-commerce delivery platform launched by the freight division of Emirates has witnessed a strong reception by UAE customers in March and April. A reliable and cost-effective e-commerce shipping solution targeted at individual shoppers and small businesses in the UAE, Emirates Delivers permits consolidation of purchases from multiple online retailers in the US into ...

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