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Bloomberg Fossil fuels are no longer considered “green” by China’s central bank. The People’s Bank of China (PBOC) plans to remove “clean utilisation of fossil fuel” projects from the list of programs that can be funded by green bonds, according to a draft plan. The bank has drawn the ire of environmentalists for allowing the sustainable financing tools to fund ...

Bloomberg President Donald Trump said the US will terminate its relationship with the World Health Organization (WHO), which he has accused of being too deferential to China and of failing to provide accurate information about the spread of the coronavirus. “We have detailed reforms that they must make and engage with them directly, but they have refused to act,” Trump ...

Bloomberg The European Union (EU) said its trade with the rest of the world would slump this year by as much as 868 billion euros ($963 billion), or more than 10%, in a gloomier updated forecast that offers fresh evidence of the global economic damage caused by the coronavirus. EU exports of goods and services will fall by 282 billion ...

Bloomberg Argentina and its key bondholders are getting closer to a $65 billion debt restructuring deal after the country defaulted on its overseas debt for the ninth time in its history. While still at odds over several key issues, the latest changes in the proposals by the government and two groups of creditors published signal the difference between both sides ...

Bloomberg UK Chancellor of the Exchequer Rishi Sunak kept the spending taps firmly on as he announced plans to taper his job support program, unveiling an incremental withdrawal in a bid to avert a mass wave of unemployment this summer. Self-employed workers will be offered a further grant of as much as 6,570 pounds ($8,082) in August to cover another ...

ABU DHABI / WAM Abu Dhabi Fund for Development (ADFD) announced that it delivered the third shipment of classroom seating supplies to Sudan. Catering to the needs of 150,000 students across the country, the support aims to help Sudan advance its educational infrastructure. Taking the total value of assistance provided by ADFD to support the educational sector in Sudan to ...

DUBAI / WAM The Organisation for Economic Cooperation and Development (OECD) has recognised the determined efforts of the United Arab Emirates in fighting the coronavirus pandemic and the effective measures taken by the country’s government to limit the fallout of the crisis on different areas, including social and economic sectors. The commendation followed an ongoing analysis issued by the organisation ...

NEW YORK / WAM The UAE has renewed its commitment to bridging the gap between rhetoric and action to protect civilians and upholding international law during an open debate of the UN Security Council on the protection of civilians. In its written submission to the UN Security Council, the UAE stated, “These are difficult times for civilians in conflict-affected areas ...

DUBAI / WAM The Ministry of Climate Change and Environment (MOCCAE) recorded a notable drop in the concentration of major air pollutants due to the transportation restrictions that have been imposed to counter the spread of Covid-19. In this context, MOCCAE reported an average 30 percent decline in the levels of nitrogen dioxide (NO2) across UAE between February 1 and ...

ABU DHABI / WAM In line with the Ministry of Health and Prevention’s plans to increase Covid-19 testing throughout the country for the early detection of infections, particularly among those who had contact with already infected cases, the ministry has conducted 38,000 additional tests. Testing resulted in the detection of 563 new cases among various nationalities, bringing the total number ...