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Bloomberg German businesses are counting on an improvement in the economy in the second half after the coronavirus pandemic depressed private spending and investment and plunged the economy into a recession. Companies surveyed by Ifo showed cautious optimism in May, with a gauge of expectations rising after the previous month’s plunge. A full-fledged recovery though is still a long way ...

ABU DHABI / WAM In keeping with the spirit of giving, generosity and reflecting the true values of social cohesion and unity in the Abu Dhabi community, Ma’an’s ‘Together We Are Good’ programme has benefited more than 350,000 people in the Emirate of Abu Dhabi during the Holy Month of Ramadan. The Authority of Social Contribution, Ma’an, has received millions ...

DUBAI / WAM Dubai Customs has announced the official working hours at its customs centres during the Eid Al Fitr holiday, to help individuals and companies clear their goods without any delay. Air customs centres at Dubai Cargo Village, Dubai Airport Free Zone- gate number (5), Al Maktoum Airport Cargo Centre, and inspection section at Dubai Multi Commodities Centre will ...

SHARJAH / WAM The Sharjah Electricity and Water Authority (Sewa) revealed the increase in number of water samples examined in the laboratory of water desalination plants was 3,000 from the beginning of the current year until the end of April 2020. In the previous year, Sewa examined 8,420 water samples, intending to provide high-quality drinking water, in line with the ...

Bloomberg The UK’s biggest pension fund by membership said it will back a climate resolution asking for France’s Total SA to adopt a tougher stance on climate change at its annual shareholder meeting next week. The resolution was brought by 11 European asset managers last month, in another example of investors pressuring Big Oil to tackle environmental challenges. Since then, ...

Bloomberg Venezuelans forced to queue for days to fill up their cars with gasoline are now facing a growing shortage of propane to cook after a processing plant caught fire and distribution is being rationed. The Jose petrochemical complex that supplies propane used by about 90% of Venezuelans to cook has slowed production since a fire and a pipeline leakage, ...

Bloomberg A senior member of Hong Kong’s delegation to Beijing dismissed speculation that new national security legislation would be used to whisk people over the border, as Chinese authorities sought to assuage global concerns about the measure. Maria Tam, vice chairwoman of the Chinese parliamentary committee that oversees Hong Kong’s law, said in an interview that she didn’t believe the ...

Bloomberg Italy’s record bond sale this week has cast a light on the price tag of the country’s political tension with the European Union (EU). The government’s decision on financing its pandemic costs will saddle taxpayers with 1.6 billion euros ($1.8 billion) of interest expense over the five-year life of the security. That’s 1.5 billion euros more than if Rome ...

Bloomberg Argentina will improve the terms of its offer to restructure $65 billion of overseas bonds after the country defaulted on interest payments. Economy Minister Martin Guzman didn’t give any details on his plans in an interview at his office, but said discussions with creditor groups continue. The latest proposals from bondholders have shrunk the gap between the parties’ positions, ...

Bloomberg Memorial Day marks the start of the prime season for theme parks. From now through Labour Day, they typically welcome the lion’s share of guests and generate most of their annual revenue. But the coronavirus pandemic has left Six Flags Entertainment Corp., Cedar Fair LP and SeaWorld Entertainment Inc., three of the world’s largest theme-park operators by attendance, with ...