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DUBAI / Emirates Business For the eleventh year in a row, National Bonds is distributing ‘Eidiyah’ to more than 500 lucky minor bondholders. Eidiyah is an annual initiative that rewards minor bondholders via special electronic draws for AED 50, totaling AED 25,000 – held on the first day of Eid Al Fitr. In its sustained efforts to encourage financial literacy ...

ABU DHABI / WAM Warehouse421, the home-grown arts and design centre dedicated to showcasing and nurturing creative production across the region, has launched the ‘Warehouse421 Project Revival Fund’, to alleviate disruption impacts on the creative industry. In a statement, the arts centre encouraged visual artists, curators, literary creatives, designers and musicians in the Middle East, North Africa and South Asia ...

ABU DHABI / WAM The Ministry of Health and Prevention announced on Sunday that it conducted over 28,000 additional Covid-19 tests using state-of-the-art medical testing methods. In a statement, the ministry affirmed its aim to expand the scope of testing nationwide to facilitate the early detection of coronavirus cases and carry out the necessary treatment. As part of its intensified ...

DUBAI / WAM The Dubai Electricity and Water Authority (Dewa) and Chinese multinational technology company, Huawei, have explored ways to expand their strategic partnership in the artificial intelligence (AI) and digital transformation cooperation fields. During a video conference, Saeed Mohammed Al Tayer, Dewa Managing Director and CEO, and Charles Yang, President of Huawei Middle East, discussed strengthening cooperation and promoting ...

Bloomberg Singapore’s Finance Minister Heng Swee Keat delivered a fourth fiscal package of S$33 billion ($23 billion) to counter the economic fallout of the coronavirus, providing specific support to saving jobs. The latest measures will help businesses and workers affected by border closures and movement restrictions, Heng said in a Parliament session Tuesday. The steps will push this fiscal year’s ...

Bloomberg US clean-energy startup, Commonwealth Fusion Systems (CFS), raised an additional $84 million from major investors in Europe and Asia, underscoring that the appetite remains to back new technologies which could mitigate climate change. As the world looks to ramp up the use of intermittent renewable energy, it needs to add forms of flexible clean power that can be turned ...

Bloomberg The Philippines has been left temporarily without any operating oil refineries as one of the world’s longest lockdowns eviscerates demand. Petron Corp, the nation’s largest oil company, said on Tuesday its 180,000 barrel-a-day refinery has been shut since May 5 for maintenance while fuel demand is low. Royal Dutch Shell Plc said the nation’s only other refinery remains temporarily ...

Bloomberg Victims of wildfires blamed on PG&E Corp voted to approve a reorganisation plan crafted by the California power giant, clearing one of the last hurdles in the company’s effort to exit the largest utility bankruptcy in US history. More than 85% of fire victims who cast ballots voted in favour of PG&E’s plan that includes a $13.5 billion settlement ...

Bloomberg China this year will be able to absorb 52% more new wind and solar power capacity than in it added 2019. The world’s biggest energy consumer has space on its grids to add 36.65 gigawatts of wind and 48.45 gigawatts of solar, according to a transmission analysis report by the National New Energy Absorption Monitoring and Warning Center. Grid ...

Bloomberg Unfazed by criticism it is unfairly blocking renewable energy projects, Mexico’s state-owned utility is doubling down on demands for regulators to protect its market share. The Comision Federal de Electricidad, which says it produces 54% of the nation’s power, wants regulators to raise transmission costs for private companies immediately, company head Manuel Bartlett said in an interview. A raft ...