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Dubai / WAM DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – has welcomed Lumex to the expanding community of laboratory-grown diamond businesses within the Free Zone. Lumex is the latest laboratory-grown diamond business to select Dubai and DMCC as the base of its operations in the region. “Since its inception ...

ABU DHABI / WAM The National Emergency, Crisis and Disasters Management Authority denies the false information circulated on social media sites regarding the closing of shopping mall and commercial centres in the country for a renewable period of two weeks, and obliging restaurants to provide delivery services only. The authority has stressed the importance of obtaining news from the official ...

Bloomberg One of the largest utilities in America is starting to turn its back on natural gas. Dominion Energy Inc, the second-biggest US power company by market value, said it’s selling substantially all of its gas pipeline and storage assets to Berkshire Hathaway Inc for $4 billion. In a separate statement, Dominion and its partner Duke Energy Corp said they’re ...

Bloomberg Indian and Chinese officials say soldiers from both sides have begun falling back along their contested Himalayan border that last month saw the worst flare up of violence in four decades. The People’s Liberation Army was seen removing tents and structures in the border area, following the last meeting between the senior commanders of both nations, an Indian government ...

Bloomberg The risk of a second wave of the coronavirus hitting the European Union makes the speedy approval of the bloc’s 750 billion-euro ($844 billion) relief fund crucial to an economic rebound, Slovenia’s finance minister said. The impact of Covid-19 and the subsequent lockdowns that have sent the EU spiralling into its worst recession in decades will persist into 2021, ...

Bloomberg Prime Minister Boris Johnson is preparing to begin phasing out the use of Huawei Technologies Co. equipment in the UK’s 5G telecommunications networks as soon as this year, reports said. A report from the National Cybersecurity Centre concluded that new US sanctions mean Huawei will have to use untrusted technology, making security risks impossible to control, according to the ...

Bloomberg European consumers are heading back to shops and restaurants with their pockets full of cash because of government support through the coronavirus pandemic. In the euro area, many people have more savings now than before the crisis hit, according to Bloomberg Economics. In the UK, where eateries reopened at the weekend, consumption may exceed expectations. The upshot is that ...

Bloomberg Argentina presented an improved debt offer to restructure $65 billion of foreign bonds in an attempt to reach a deal with its creditors after more than two months of stalled talks. The proposal seeks to reduce creditor losses on the bonds’ principal, increase coupons and shorten bond maturities, according to a release. The latest proposal will include minimum participation ...

Dubai / WAM Dubai’s ease of doing business is expected to improve further following the Dubai Chamber of Commerce and Industry’s announcement that it is cooperating with the Dubai Airport Freezone Authority (Dafza) to connect the digital services of both organisations. Under the terms of the new partnership, companies can register as Dubai Chamber members, or renew their existing membership, ...

Dubai / WAM The Dubai Financial Market (DFM) on Sunday announced that it is reopening its Trading Floor and Customer Affairs counters for investors as of Tuesday, July 7, with the strict implementation of precautionary measures for the safety of clients and employees. The DFM Trading Floor and Customer Affairs counters were temporarily closed mid-March. The DFM has maintained its ...