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Bloomberg Mark Zuckerberg just became $7.2 billion poorer after a flurry of companies pulled advertising from Facebook Inc.’s network. Shares of the social media company fell 8.3% last week, the most in three months, after Unilever, one of the world’s largest advertisers, joined other brands in boycotting ads on the social network. Unilever said it would stop spending money with ...

Bloomberg Britain said it’s set to relax quarantine requirements for people arriving from countries including France, Greece and Spain. A full list of nations with which the establishment of so-called air bridges will exempt incoming travellers from two weeks of self-isolation will be published next week, the UK government said in a statement. The new regime is be introduced a ...

Bloomberg When coronavirus outbreaks forced shutdowns at America’s giant meat plants, it quickly created a bottleneck: Farmers had nowhere to sell their animals, while consumers faced shortages and surging prices. New, smaller slaughterhouses could be the antidote to industry concentration, but it’s no quick fix. Opening a slaughterhouse has plenty of hurdles. The facilities — where animals are killed, butchered ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has stressed that the UAE’s world-class infrastructure, robust economy, and resilience in the face of challenges give it the ability to rapidly achieve its strategic goals and aspirations for progress and prosperity. His Highness Sheikh Mohammed bin ...

Dubai / WAM Despite the decline in greenfield foreign direct investment (FDI) globally at the beginning of 2020 due to the challenges posed by the Covid-19 pandemic, Dubai has maintained its leading position among the top three global FDI destinations during the first five months of the year, according to Financial Times fDi Markets data. “Dubai ranked second globally in ...

RAS AL KHAIMAH / WAM American University of Ras Al Khaimah (Aurak) is planning to introduce four new academic programmes. These comprise a Bachelor of Science in Artificial Intelligence and Data Science, a Bachelor of Arts in Interior Design, a Master of Science in Infrastructure Engineering, and a Master of Science in Sustainable and Renewable Energy. “We’re bringing out new ...

ABU DHABI / WAM In cooperation with the Abu Dhabi Investment Office (ADIO), the Abu Dhabi Agriculture and Food Safety Authority (Adafsa) developed a pipeline of investment projects worth AED1 billion for the private sector to enhance the food security and agricultural sustainability system in the emirate of Abu Dhabi. As part of these projects, Adafsa has awarded five investment ...

Bloomberg Indian and Chinese troops remain in a standoff at their contested Himalayan border, days after both sides promised peace following their worst military clash in 45 years. About 50 square kilometres of land earlier controlled by India in the Pangong Tso area — a glacial lake at about 14,000 feet in the Tibetan plateau — is now being held ...

Bloomberg The International Monetary Fund (IMF) downgraded its outlook for the coronavirus-ravaged world economy, projecting a significantly deeper recession and slower recovery than it anticipated just two months ago. The fund said it now expects global gross domestic product to shrink 4.9% this year, more than the 3% predicted in April. For 2021, the fund sees growth of 5.4%, down ...

Bloomberg Wirecard AG filed for insolvency proceedings after a massive accounting scandal brought the payments company to its knees. Wirecard management cited over-indebtedness as the reason behind decision to seek court protection in Munich. The company also said it’s considering whether the insolvency proceedings should also be applied to its subsidiaries. The company’s rapid fall from grace comes after it ...