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Dubai / Emirates Business The outlook for the UAE’s Courier, Express and Parcel (CEP) market is bright due to strong demand generated in the wake of the coronavirus outbreak across the globe, industry experts say. Referring to latest research data released by Mordor Intelligence, they said CEP market in the UAE is expected to post 7.5 percent compound annual growth ...

Bloomberg NRG Energy Inc is making its boldest push yet into the retail electricity business, cementing a strategy overhaul that started three years ago. The power supplier said it’s buying Centrica Plc’s Direct Energy unit in a $3.6 billion deal that will nearly double the number of homes and businesses it serves across North America. It’s NRG’s biggest acquisition in ...

Bloomberg Chinese authorities have taken over the US consulate in Chengdu following its closure, the latest historic milestone marking the deterioration in relations between Washington and Beijing. The US lowered its flag over the American consulate in the southwest Chinese city on Monday, less than three days after the US government forced their Chinese counterparts out of their mission in ...

Bloomberg Spain’s tourism industry is at increasing risk of being shut down as countries across Europe seek to restrict visits to the Mediterranean nation, following an order by the British government to quarantine visitors. A steady increase in new infections in Spain last week pushed Boris Johnson’s government to order a 14-day quarantine for all visitors from Spain. Other European ...

Bloomberg Wirecard AG rose the most since June after it revealed that more than 130 investors are eyeing the company’s assets. Some 60 potential buyers have signed confidentiality agreements relating to the bidding for Wirecard’s North America unit, and 77 have done so for its core business of acquiring and issuing, the company’s insolvency administrator, Michael Jaffe, said in a ...

Bloomberg German businesses are growing increasingly optimistic that government support at home and an unprecedented euro-area fiscal plan will bolster demand and drive an economic recovery later this year. Expectations at companies surveyed by the country’s Ifo institute improved to 97 in July from a revised 91.6 in June, the strongest reading since late 2018. The main business climate index ...

Bloomberg The UK proposed strict new limits on junk food advertising as ministers seek to control the country’s growing obesity problem, which has been identified as a factor in coronavirus deaths. Plans include banning TV and online advertising of foods high in fat, sugar or salt before 9 p.m., the Department for Health and Social Care said on Monday. Advertisers ...

Abu Dhabi / WAM Tabreed, the National Central Cooling Company, released on Sunday its consolidated financial results for the first six months of 2020. The company reported in a statement on Sunday a net profit of AED 224.30 million, driven by the acquisition of its Downtown Dubai district cooling business in a long-term partnership with Emaar, one of the world’s ...

Abu Dhabi / WAM Noura bint Mohammed Al Kaabi, Minister of Culture and Youth, signed a virtual Memorandum of Understanding (MoU) with Lina G. Mendoni, Minister of Culture and Sports of Greece, to reinforce the cultural and creative cooperation between the UAE and Greece. The signing took place on the sidelines of the UAE-Greece Strategic Cooperation Forum, which was held ...

Abu Dhabi / WAM Emirates Post is expanding its product offering with the introduction of a digital location management service for the UAE businesses, called ‘Smart Places’. In partnership with Local Knowledge, a local listings management company, the new service will provide an easy and accessible solution to business owners who seek to claim and update their business on Google ...