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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 ...

Bloomberg French President Emmanuel Macron is planning a new virus furlough program that could see the state covering a large share of lost incomes for as long as two years to protect jobs. Macron outlined new measure in a meeting with labour unions and business groups. Starting July 1, it aims for a compromise between blanket support and more targeted ...

Bloomberg Bayer AG’s $12.1 billion settlement to resolve US lawsuits over its flagship weedkiller Roundup and other products offered fleeting relief to investors looking to move on from the legal woes that have hobbled the stock for almost two years. The shares rose as much as 3.6% in Frankfurt trading after the German company’s move to resolve a trio of ...

ABU DHABI / WAM First Abu Dhabi Bank (FAB) launched FAB eSign, a new portal that provides a secure, safe and legally valid way for clients to sign documents digitally. Initially available to clients of FAB’s Global Transaction Banking (GTB) division, FAB eSign allows authorised signers to digitally sign documents anywhere and anytime, the bank said in a statement on ...

New York / WAM The UAE reiterated its continued commitment to upholding the rights of children around the world and to the architecture established by the UN Security Council on children and armed conflict. In a written statement submitted to the UN Security Council for its annual open debate on children and armed conflict, the UAE stated, “The Covid-19 pandemic ...

Abu Dhabi / WAM The UAE on Wednesday sent an aid plane carrying 7 metric tons of medical supplies to Jubaland, Somalia to bolster the country’s efforts to curb the spread of Covid-19. This aid will assist approximately 7,000 medical professionals as they work to contain the virus. Commenting on the aid delivery, Mohammed Ahmed Othman Al Hammadi, UAE Ambassador ...

DUBAI / WAM Dubai Chamber of Commerce and Industry has launched its Business Mentoring and Support (BMS) Programme – a CSR initiative designed to help small and medium-sized enterprises (SMEs) in Dubai steer new challenges posed by the Covid-19 pandemic. The programme will see SMEs in Dubai paired with large companies offering professional advice and resources tailored to unique needs, ...