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Ministry of Health stresses importance of vigilantly following all COVID-19 precautionary health measures

(BNA): The Ministry of Health today stressed that it is the national responsibility of all to follow the precautionary health measures enacted by the government, which include vigilantly following social distancing guidelines, to ensure the mitigation of COVID-19 and the safety of the community.

The ministry highlighted that recent COVID-19 testing has indicated an increase in cases from contacts of active COVID-19 cases, particularly from family and social gatherings, leaving home for unnecessary reasons, and negligence when complying with the health measures and guidelines issued.

On this note, the ministry further highlighted that 91 individuals have been identified as contacts of one active COVID-19 case, of which 48.3% of the identified individuals are family members, 26.4% are work colleagues, and 25.3% are contacts who have interacted with the active case across different locations.

The ministry noted that out of the 91 contacts of this active COVID-19 case, 33 have tested positive and 58 have tested negative and are currently under home quarantine measures. In this regard, the ministry is utilising contact tracing methods to track all individuals exposed to the 33 additional active cases.

Furthermore, the ministry underscored the importance of limiting family gatherings to those only living in the same household, not leaving the house unless absolutely necessary and wearing face masks at all times when in public. Masks should also be worn when around elderly individuals or individuals with underlying health problems living in the same household. Individuals are not required to wear a face mask when driving vehicles, or when performing strenuous exercises, such as running, swimming or cycling.

The ministry reiterated the importance for all citizens and residents to follow all precautionary health guidelines, which include regularly washing hands with soap and water, using an alcohol-based sanitizer, regularly disinfecting surfaces being used, covering ones mouth when coughing, disposing used tissues in the correct manner, and distancing from individuals who are suffering from fever or coughing.

The ministry concluded by outlining the importance of calling the hotline no. 444 if experiencing COVID-19 related symptoms, and to follow the instructions provided by the support team.

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A Crash in the Dollar Is Coming: Stephen Roach

(Bloomberg Opinion) — The era of the U.S. dollar’s “exorbitant privilege” as the world’s primary reserve currency is coming to an end. Then French Finance Minister Valery Giscard d’Estaing coined that phrase in the 1960s largely out of frustration, bemoaning a U.S. that drew freely on the rest of the world to support its over-extended standard of living. For almost 60 years, the world complained but did nothing about it. Those days are over.

Already stressed by the impact of the Covid-19 pandemic, U.S. living standards are about to be squeezed as never before. At the same time, the world is having serious doubts about the once widely accepted presumption of American exceptionalism. Currencies set the equilibrium between these two forces — domestic economic fundamentals and foreign perceptions of a nation’s strength or weakness. The balance is shifting, and a crash in the dollar could well be in the offing.

The seeds of this problem were sown by a profound shortfall in domestic U.S. savings that was glaringly apparent before the pandemic. In the first quarter of 2020, net national saving, which includes depreciation-adjusted saving of households, businesses and the government sector, fell to 1.4% of national income. This was the lowest reading since late 2011 and one-fifth the average of 7% from 1960 to 2005.

Lacking in domestic saving, and wanting to invest and grow, the U.S. has taken great advantage of the dollar’s role as the world’s primary reserve currency and drawn heavily on surplus savings from abroad to square the circle. But not without a price. In order to attract foreign capital, the U.S. has run a deficit in its current account — which is the broadest measure of trade because it includes investment — every year since 1982.

Covid-19, and the economic crisis it has triggered, is stretching this tension between saving and the current-account to the breaking point. The culprit: exploding government budget deficits. According to the bi-partisan Congressional Budget Office, the federal budget deficit is likely to soar to a peacetime record of 17.9% of gross domestic product in 2020 before hopefully receding to 9.8% in 2021.

A significant portion of the fiscal support has initially been saved by fear-driven, unemployed U.S. workers. That tends to ameliorate some of the immediate pressures on overall national saving. However, monthly Treasury Department data show that the crisis-related expansion of the federal deficit has far outstripped the fear-driven surge in personal saving, with the April deficit 5.7 times the shortfall in the first quarter, or fully 50% larger than the April increment of personal saving.

In other words, intense downward pressure is now building on already sharply depressed domestic saving. Compared with the situation during the global financial crisis, when domestic saving was a net negative for the first time on record, averaging -1.8% of national income from the third quarter of 2008 to the second quarter of 2010, a much sharper drop into negative territory is now likely, possibly plunging into the unheard of -5% to -10% zone.

And that is where the dollar will come into play. For the moment, the greenback is strong, benefiting from typical safe-haven demand long evident during periods of crisis. Against a broad cross-section of U.S. trading partners, the dollar was up almost 7% over the January to April period in inflation-adjusted, trade-weighted terms to a level that stands fully 33% above its July 2011 low, Bank for International Settlements data show. (Preliminary data hint at a fractional slippage in early June.)

But the coming collapse in saving points to a sharp widening of the current-account deficit, likely taking it well beyond the prior record of -6.3% of GDP that it reached in late 2005. Reserve currency or not, the dollar will not be spared under these circumstances. The key question is what will spark the decline?

Look no further than the Trump administration. Protectionist trade policies, withdrawal from the architectural pillars of globalization such as the Paris Agreement on Climate, Trans-Pacific Partnership, World Health Organization and traditional Atlantic alliances, gross mismanagement of Covid-19 response, together with wrenching social turmoil not seen since the late 1960s, are all painfully visible manifestations of America’s sharply diminished global leadership.

As the economic crisis starts to stabilize, hopefully later this year or in early 2021, that realization should hit home just as domestic saving plunges. The dollar could easily test its July 2011 lows, weakening by as much as 35% in broad trade-weighted, inflation-adjusted terms.

The coming collapse in the dollar will have three key implications:  It will be inflationary — a welcome short-term buffer against deflation but, in conjunction with what is likely to be a weak post-Covid economic recovery, yet another reason to worry about an onset of stagflation — the tough combination of weak economic growth and rising inflation that wreaks havoc on financial markets.

Moreover, to the extent a weaker dollar is symptomatic of an exploding current-account deficit, look for a sharp widening of America’s trade deficit.   Protectionist pressures on the largest piece of the country’s multilateral shortfall with 102 nations – namely the Chinese bilateral imbalance — will backfire and divert trade to other, higher-cost, producers,  effectively taxing beleaguered U.S. consumers.

Finally, in the face of Washington’s poorly timed wish for financial decoupling from China, who will fund the saving deficit of a nation that has finally lost its exorbitant privilege? And what terms — namely interest rates — will that funding now require?

Like Covid-19 and racial turmoil, the fall of the almighty dollar will cast global economic leadership of a saving-short U.S. economy in a very harsh light. Exorbitant privilege needs to be earned, not taken for granted.

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Emirates adds Kabul to list of passenger destinations

Emirates has received approvals to carry passengers on flights to Kabul in Afghanistan, starting from 25 June, taking to 30 the total number of destinations currently offered to travellers.

In addition to Kabul, flights to the following cities can be booked on emirates.com or via travel agents: Bahrain, London Heathrow, Manchester, Frankfurt, Paris, Milan, Madrid, Zurich, Vienna, Amsterdam, Copenhagen, Dublin, New York JFK, Chicago, Toronto, Seoul, Kuala Lumpur, Singapore, Jakarta, Taipei, Hong Kong, Perth and Brisbane, Sydney, Melbourne and Manila.

Customers can book to fly between destinations in the Asia Pacific and Europe or the Americas, with a convenient connection in Dubai, as long as they meet travel and immigration entry requirements of their destination country.

In addition, from 8 June Emirates will offer flights from Karachi, Lahore and Islamabad for travellers from Pakistan who wish to connect onwards to other Emirates destinations.

Health and safety first: Emirates has implemented a comprehensive set of measures at every step of the customer journey to ensure the safety of its customers and employees on the ground and in the air, including the distribution of complimentary hygiene kits containing masks, gloves, hand sanitiser and antibacterial wipes to all customers.

Travel restrictions: Customers are reminded that travel restrictions remain in place, and travellers will only be accepted on flights if they comply with the eligibility and entry criteria requirements of their destination countries. Residents returning to the UAE can check the latest requirements at: https://www.emirates.com/ae/english/help/flying-you-home/

Customers can find more information about Emirates’ flights and current services at: https://www.emirates.com/ae/english/help/essential-travel/#75478.

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Local Press: Recovery rate reflects effectiveness of UAE’s COVID-19 measures

(WAM) — The UAE is well on the road to flattening the COVID-19 curve, the Gulf News said in an editorial on Wednesday.

“Although these are still early days, the high number of recovered cases in the last five days gives plenty of room for optimism. For three days in a row, the number of recoveries topped the number of new infections,” it added.

“The number of recovered cases on Monday and Tuesday too were significantly high,” the UAE daily noted, adding, “All this points to the effectiveness of UAE’s efforts to stop the spread of the new coronavirus.”

“That does not mean it is time to become too comfortable,” it warned. “Actually, this is the time to build on the measures that have brought success. Which is why Abu Dhabi has decided to extend the weeklong National Screening Programme by another seven days.”

“During this period the movement of people between Abu Dhabi, Al Ain and Al Dhafrah as well as in and out of the emirate will be restricted, and reduced contact between people can only help in increasing the effectiveness of the drive,” the newspaper explained.

“Sharjah’s move to provide free COVID-19 tests for government employees returning to work inspires confidence that the conditions are encouraging for a return to normality.

“Dubai has taken the lead with a three-phased approach to reopening businesses. Malls, beaches, parks and other public facilities have been thrown open to the public. While some enterprises operate with reduced capacity, there are some restrictions in the functioning of gyms, cinemas and other sectors where social distancing is difficult,” it commented.

“Government services have resumed in Dubai with 50 percent of federal employees reporting for work, and by 14th June attendances will be back to 100 percent. Airports too are open although the frequency of flights is still low. That will pick up July when tourist footfalls are expected to rise.

“All this places enormous responsibility on the people in the country to ensure that they continue to take steps to prevent the spread of the contagion,” the Dubai-based daily continued.

“Everyone by now knows that wearing masks, practising social distancing and good hygiene with frequent handwashing are crucial to keeping out the pathogen that has killed more than 400,000 people worldwide.

“As we return to workplaces in the coming days, it’s important to continue these new habits so that we remain safe and keep others safe as well.

“Never in the past has each person’s action been critical to the health of the country’s population. Let’s keep this country safe. Only then can our children return to schools. That’s integral to their development and the progress of the UAE,” the English language daily concluded.

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Emirati researcher creates new web tool to facilitate first-ever Twitter analysis on COVID-19 in UAE

(WAM) — An Emirati faculty member at Khalifa University of Science and Technology has created a new web tool for analysis of COVID-19 Twitter data in the UAE, offering the public insights into conversations, emotions and sentiments concerning the virus.

The tool titled ‘Analysis of Cross-linguistic markers of COVID-19 Tweets in the UAE’ shows that public sentiment remained positive and trustful of government actions towards mitigating the spread of the disease, reflecting the UAE’s effective measures against COVID-19.

The web tool developed by Dr. Aamna Mohammed Al Shehhi, Assistant Professor, Electrical Engineering and Computer Science, facilitated understanding of social impacts of COVID-19 by creating a Twitter dashboard that offers an insight into public social media conversations.

Analysing linguistic markers in social media posts helps in assessing and evaluating changes in the narrative about COVID-19, while understanding the social and emotional reaction to different government actions.

Led by Dr. Al Shehhi, the project to develop the web tool for Twitter analysis in the UAE, was also supported by the Emirates ICT Innovation Centre, EBTIC, which is supported by Etisalat, BT, Khalifa University, and the UAE ICT Fund.

Dr. Al Shehhi said this Twitter analysis indicates the ever-increasing role of social media and its impact on policy-making.

She added, “Such understanding enables large-scale opportunities for information-seeking, and practice-sharing to calm people down, and understanding of the differences in the COVID-19 narrative delivered across languages. It also provides a tool to measure the COVID-19 impact on social well-being. Integrating Twitter dashboard analysis therefore can help policymakers during the decision-making process.”

The study assessed tweets both in English and Arabic during the observation period, which spanned from 1st January to 1st May, 2020. The predominant topic of tweets ranged from the origin of the disease, the disease’s spread, government responses, and treatment, in addition to common themes of daily tweets.

The data shows that in early January, at the beginning of the observation period, panic behavior was noticed in both Arabic and English tweets on COVID-19, during which time fear topics such as virus, death, epidemic, and pneumonia were common content. However, since January-end, there was a greater spread of positive and hopeful sentiment, which increased over time.

This increase in positivity is attributed to different government actions, such as restrictions of movement at national borders and strengthening of the healthcare system.

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Drake and Scull International announces 2019 audited financial results

Drake & Scull International PJSC (DSI), a regional market leader in the integrated design, engineering and construction disciplines of Mechanical, Electrical and Plumbing (MEP), Water and Power, and Oil and Gas reported today its audited financial results for the year ended December 2019, reporting a net profit of AED 262 million.

2019 Revenues stood at AED 681 million compared to AED 798 million in 2018.

Gross Profit of AED 8 million in 2019 compared to Gross Loss of 952 million in 2018.

Profit from continued operations reached AED 234 million in 2019 compared to a loss of AED 4,930 million.

Total Negative Equity has been improved from AED 4,748 million in 2018 to AED 3,987 million in 2019.

DSI recorded a revenue of AED 681 million for the full year and the backlog remained stable at AED 625 million, which includes AED 309 million from Joint-Ventures, driven by on-going operations in the UAE, Germany, Algeria, Kuwait and Iraq.

Gross profits the period stood at AED 8 million and the Net profit for the year stood at AED 262 million compared to net loss AED 5,092 million recorded for the same period last year.

Shafiq Abdelhamid, Chairman of DSI, said: “The Board of Directors and I would like to thank the executive management for their vision, tenacity, and their tremendous efforts in stabilizing the company which will enable the restructuring to be completed this year. I would also like to extend my thanks and deep gratitude to the Securities and Commodities authority for their efforts and continuous support.   The team at DSI has worked tirelessly for the past year to tackle the real challenges of dealing with the huge losses recorded in 2018, and the burden left by the previous management. The financial restructuring is progressing with the lead banks, and we have made real efforts to reach out to all the trade creditors ahead of finalizing the restructuring proposal which will need the continued support of all stakeholders. Once the restructuring is complete it will position DSI so as to be able to regain its position as profitable international MEP contractor”.

“In line with our restructuring plan and strategic roadmap, our objective in 2019 was to re-focus the company on its core business activities of MEP Contracting, Water and Energy and Oil & Gas; while strengthening our balance sheet/financial position by implementing the pillars of the restructuring strategy as approved by the Shareholders by reducing operational costs and closely monitoring our projects. Operational productivity and efficiency will also be a key factor in maintaining DSI’s competitive edge, and we will continue to actively work on winning new projects while working on completing existing ones.” Finally we will continue to engage with all our stakeholders, including regulators, financial lenders, trade creditors and employees to ensure that Drake & Scull emerges from the last few years of difficulties as a strong UAE company”.

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Mazda Earns Six IIHS Top Safety Pick+ Awards For 2020

In March 2020, Mazda had the honour to have a total of six of their vehicle models awarded the Insurance Institute for Highway Safety (IIHS) Top Safety Pick+ award – the highest safety rating handed out by this United States non-profit organisation.

The six awards meant that as of March 2020, Mazda had the most Top Safety Pick+ awards out of all the automakers taking part; an illustrious achievement for the Japanese vehicle manufacturer.

The models that won include the 2020 versions of the Mazda 3 sedan and hatchback, Mazda 6, Mazda CX-5, Mazda CX-3, as well as the Mazda CX-9 (built after December 2019). In addition, the Mazda CX-30 earned a 2020 Top Safety Pick award when equipped with specific headlights.

In the Sultanate of Oman, all of these models are currently available with GCC specs across the country through the Towel Auto Centre (TAC) showrooms.

The Top Safety Pick+ awards were the result of Mazda’s new-generation models performing exceptionally well in IIHS’s “Crashworthiness evaluation” and “Preventive safety performance” categories. At the heart of this high safety performance demonstrated by Mazda is their advanced I-ACTIVSENSE safety technology and SKYACTIV-Body innovation.

The I-ACTIVSENSE advanced safety technology takes a human-centered approach to helping the driver recognise hazards. These technologies include auto-braking to prevent or mitigate collisions and adaptive headlights that enhance visibility by automatically adjusting the area and range of illumination. At the same time, Mazda’s SKYACTIV-Body provides excellent collision safety performance, while still providing a lightweight vehicle body that enables an exceptional driving performance.

“Mazda is aggressively investing all of its technological and engineering expertise in a place that connects the driver with their car,” the manufacturer states. With your hands on the steering wheel of one of Mazda’s new-generation models, an intimate connection is created between you, the vehicle, and the road surface.

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Omantel wins the best learning and development strategy for employees and talents international award

Omantel, the leading provider of integrated telecom service in the Sultanate – announced that the Human Resources Unit represented by the Learning and Development Department won the Best ATD Award 2020, an international award from the U.S based Association of Talent Development (ATD). ATD, which has been established in 1943, is one of the most prestigious, non-profit specialized organizations. Omantel has been conferred this award alongside with a group of major well-known companies from different countries around the world.

Omantel has been one of the only three telecom companies that have been selected to receive this prestigious award. The award has been conferred at an annual conference attended by more than 12,000 participants from different countries of the world. The award recognizes the best “learning and development for individuals and talents” strategy. It also recognizes the initiatives that prove successful and has impact on business growth and development.

Commenting on this achievement, Dr. Ghalib bin Saif Al Hosni, Chief People Officer at Omantel, said, “In Omantel, we have been working during the past years to enhance learning and development and embed as part of our organizational culture with a great focus on customer service throughout all our business operations. Our L&D strategy was developed based on different academic patterns while taking into consideration best international experiences in this regard”.

“Our employee development philosophy has evolved to go beyond the limits of training and learning in the training classes. To take efficiency to new levels, we complemented training courses with practical programs that help each employee in applying what he learns in the real work environment. This has played a great role in enhancing the skills and performance of our employees in a sustainable and continuous matter. We have also provided our employees with mentors to assist them during that educational journey” Dr. Ghalib further pointed out.

“We are delighted to receive this international recognition for Omantel plans and programs during the past period. I am confident that this award will give us the motivation to do more during the coming period. It will also help us to continue focusing on developing our employees and aligning their skills with future jobs, he added. Omantel considers its employees as the most valuable asset, and therefore it invests heavily in building their capacities and providing them the best opportunities to enhance their skills in various fields. Through its Learning and Development function, Omantel adds significant value to its business by addressing three key business challenges that include; retaining talent, business sustainability, and enhancing leadership capability. Given the complexity of tackling all talent issues during a single time period, beginning in 2016, the company implemented a unique four-year talent journey focusing on a different issue every year.

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Dubai Culture signs MoU with LinkedIn to support creative community

(WAM) — In line with Dubai Culture and Arts Authority’s, Dubai Culture, efforts to realise the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to drive the advancement of the emirate’s creative scene and establish Dubai as a global centre for art and culture, an incubator for creativity and a thriving hub for talent; and under the directives of Chairperson of Dubai Culture H.H. Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Dubai Culture has forged a strategic collaboration with LinkedIn, the world’s largest professional network, to ease the challenges faced by the creative community amidst the COVID-19 outbreak.

Hala Badri, Director General of Dubai Culture; and Ali Matar, LinkedIn’s head of MENA and emerging markets in Europe and Africa, signed a Memorandum of Understanding, MoU, that establishes cooperation in three main areas: creating an educational programme to provide training and learning opportunities for creative professionals, fostering connections and networking to establish a global cultural network from Dubai, and developing data and insights for future studies and research.

Aligned with Dubai Culture’s endeavour to help talent enhance their capabilities, the first collaborative effort seeks to provide opportunities for professionals in the cultural and creative field to benefit from 100 specialised learning courses, some of which are specifically tailored to their needs. The professionals will be granted long-term membership in this programme.

Under this initiative, Dubai Culture will provide learning licences to the creative and arts industry that enable UAE-based professionals to gain access to courses in two main domains. The first is business management, which includes courses on the digital shift of businesses, crisis management, business development, and legal and financial knowledge.

The second domain comprises specialised skill development courses in the fields of photography, graphic design, game design, art, product design, fashion and more.

In November 2019, H.H. Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, accompanied by Hala Badri, visited the LinkedIn offices and met with LinkedIn Co-Founder Allen Blue; Chief Marketing Officer Shannon Brayton; and members of the LinkedIn MENA team to explore ways to use the social platform to better engage with professionals in Dubai’s creative and cultural industries.

Hala Badri, Director General of Dubai Culture, said: “In order to support the growth of our creative industries during these trying times, Dubai Culture is pleased to partner with LinkedIn, the world’s largest professional network, and consistently seeks to collaborate with its partners for the benefit of the creative industry. The UAE has the largest community of artists, designers, and creatives in the MENA region and this initiative is our gesture of support to them during times of crises when they most need it; as well as a testament to our efforts in consolidating learning and knowledge exchange. This is the ideal time for us to launch this important initiative to fully support talent and creative people across the country as part of our mission to provide them with tools and easy access to professional development from their homes.”

Hala Badri added, “By collaborating with LinkedIn Learning, the educational arm of LinkedIn, Dubai Culture will grant the community access to courses that will help them advance their skillsets and raise their knowledge and expertise. We will use this collaboration for both short- and long-term creative projects.”

Ali Matar, Head of MENA and Emerging Markets in Europe and Africa, LinkedIn said, “LinkedIn’s mission is to connect the world’s professionals to make them more productive and successful, and with over 690 million members worldwide, we are in a unique position that enables us to build networks within and across professional sectors. We are proud to partner with Dubai Culture to support and empower the creative community in the UAE, which has inspired us all over the years with its contributions.”

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Air Arabia announces new repatriation flights to Egypt

(WAM) — Air Arabia has announced that it will operate new outbound only repatriation flights from Sharjah to Egypt to allow Egyptian nationals now in the UAE to return home.

The special flights will operate from Sharjah International Airport to Cairo International Airport and Borg El Arab International Airport, Alexandria, from 11th to 16th June, 2020.

Flights are available for booking on the website or by contacting the Air Arabia call centre on 06 5580000 or a travel agent.

Air Arabia is committed to supporting requests to operate repatriation and cargo flights and working closely with UAE authorities in this regard.

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Dubai Silicon Oasis Authority partners with Derq to deploy AI-based solution to monitor adherence to COVID-19 guidelines

(WAM) — Dubai Silicon Oasis Authority, DSOA, has partnered with Derq, a Massachusetts Institute of Technology, MIT, spinoff, to deploy an Artificial Intelligence, AI, based solution to support cities in ensuring compliance with COVID-19 response measures.

Utilising advanced AI technology, the solution seeks to strengthen the community’s adherence to the new global safety standards aimed at combating the COVID-19 pandemic.

Deploying Derq’s award-winning algorithms, the solution uses pre-existing camera feeds to monitor whether people are violating safety guidelines, including social distancing requirements, wearing of facemasks, and observance of occupancy requirements focused on ensuring safety.

Feeds from CCTV and other security cameras in community spaces that face high risk of COVID-19 transmissions are analysed in real time to detect and report any violation that could cause harm to the broader community. The technology provides decision makers with a personalised dashboard to review the community’s overall to guidelines, which also allows them to take immediate action to ensure collective safety adherence.

Speaking on the initiative, Dr. Mohammed Al Zarooni, Vice Chairman & CEO of DSOA said, “In the words of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, Dubai strives to catalyse innovation and push the limits of leveraging technology to benefit people. At Dubai Silicon Oasis Authority, we are dedicated to tap synergies with key entities across diverse sectors to actively exchange knowledge and expertise, as well as best practices and successful smart city solutions.”

He added, “DSOA is committed to collaborate once again with Derq, to enhance the safety of citizens and community amidst these trying times. Our top priority is ensuring the safety and quality of life for our community, the emirate, and the nation at large. This collaboration also links with our core mission to lead a fully integrated, and sustainable smart community.”

Dr. Georges Aoude, Co-Founder and CEO of Derq, said, “Derq’s efforts have always been rooted in our mission to enhance citizens’ safety. Through this initiative, we are able to do just that in the places that matter most – on our roads, and in our hospitals, offices, malls, beaches, and airports. However, we cannot simply do this alone; our partnerships with governments and businesses, such as Dubai Silicon Oasis Authority, empower us to implement this technology and ensure its success.”

He added: “These are tumultuous times and every effort matters. Our lives have changed because of the COVID-19 pandemic, and our new normal includes being aware of our surroundings more so than before. Derq is proud to contribute to this global cause and quickly rise to the challenge it was presented.”

Dubai Silicon Oasis Authority supports Derq with developing and testing their technology through a live testbed and proof of concepts in the Dubai Silicon Oasis community.

Headquartered in Dubai and Michigan, Derq uses artificial intelligence to deliver innovative road safety solutions that help eliminate collisions and save lives. The two organisations have been collaborating since 2017, when Derq began piloting its patented real-time AI video analytics that enhances road and pedestrian safety for conventional and autonomous cars through connected vehicles (V2X) communication and AI-powered blinking signs to predict road incidents and notify vehicles to avoid them

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India’s first day of reopening

(WAM) – People in the second most populous country in the world stepped out of their homes today for the first time in 10 weeks to go to mosques and temples, but scenes from across India showed worshippers exercising caution, wearing masks and maintaining social distancing to ward off Coronavirus.

Indians visited shopping malls and restaurants, but in small numbers because of strict capacity limits imposed under government guidelines to avoid crowding and chances of the virus spreading. Traffic was brisk in the national capital of Delhi which was free from traffic jams during the protracted lockdown.

Despite the “Unlock,” which began its phase one today, the risk from COVID-19 infection was underlined when Delhi Chief Minister Arvind Kejriwal went into self-quarantine with suspected symptoms of the dreaded virus, including fever. He will undergo a test on Tuesday.

Delhi government has not allowed hotels and banquet halls in the city to reopen because they may be needed to be turned into makeshift hospitals if COVID-19 infections continue to spike.

Every day marks a new record in spike in infections in India, but the World Health Organisation, WHO, has been sanguine about the increase in positive cases.

“In South Asia, not just in India, but in Bangladesh, Pakistan and other countries of South Asia with large dense populations, the disease has not exploded,” Dr. Mike Ryan, WHO’s top emergency expert, said at a news conference.

According to Soumya Swaminathan, WHO’s chief scientist, India’s spread of the pandemic “looks big, but for a country of this size it is still modest.”

India has recorded 256,611 positive cases so far, according to latest statistics from the Ministry of Health and Family Welfare here. Of these 124,430 patients have recovered while 7,200 have died, which leaves active cases numbering 124,981.

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Musk Says Solving Tesla Model Y Production Issues Top Priority

(Bloomberg) — Tesla Inc.’s Elon Musk told employees the electric-car maker is having issues boosting output of its new Model Y crossover and said he’ll be walking the assembly line on a weekly basis to troubleshoot production snafus.

“We are doing reasonably well with S, X and 3, but there are production and supply chain ramp challenges with Model Y, as is always the case for new products,” Musk wrote in an internal email sent Saturday and seen by Bloomberg News.

Representatives for Tesla did not immediately respond to a request for comment. Business Insider reported on the email earlier.

Musk has predicted the Model Y will eventually surpass the Model 3 sedan as Tesla’s top-volume vehicle and could outsell all current cars in the lineup combined. Tesla shares rose 7.3% on Monday to close at $949.92, a record high.

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Industry leaders call for additional stimulus to improve business confidence and consumer demand

Prominent industry leaders and market experts in Oman called for increased stimulus from the government to support the private sector navigate through the COVID-19 crisis as well as stressed on the need for business transformation to sustain and thrive in the future that offers a new set of opportunities demanding new ways of doing business.

They were speaking at the OER Webinar ‘Business Transformation for the New Reality’ organised in partnership with Oman Chamber of Commerce & Industry (OCCI), on June 3 over zoom. The webinar was powered by Oman Arab Bank and Octal. Oman Data Park was the cloud service partner. National Life & General Insurance was the insurance partner.

Speaking at the webinar, His Excellency Qais Mohammed Al Yousef, Chairman of Oman Chamber of Commerce and Industry (OCCI) stated, “We (OCCI) have requested the government for a number of incentives and measures for the private sector to overcome the current crisis. We have recommended that the banks and finance companies shall reschedule loans during 2020-2021 and without asking for additional guarantees/collaterals as a result of the decrease in the prices of the current collaterals provided that there are no additional fees for rescheduling, and the Central Bank of Oman shall not require the local banks to make additional provisions as a result of the mentioned rescheduling. We have also requested postponing the Value Added Tax (VAT) for atleast 18-24 months to prevent its impact on the consumption and the financial condition of the companies.”

He further added, “The current situation has underlined the importance of enhancing local production and focusing on In-Country Value (ICV). I’m quite positive on the future. The introduction of laws related to public & private partnerships, foreign capital investments and bankruptcy augurs well for Oman’s economy. There are clear opportunities for PPP based projects. For example, there are atleast 16 healthcare business opportunities where OCCI could facilitate the process for serious investors.”

Echoing his sentiments, almost 70 per cent of the 900-plus strong audience affirmed that businesses in Oman can transform themselves innovatively in the next six months, in a live audience poll.

Samir J Fancy, the chairman & founder of Renaissance Services and Tawoos Group said, “I don’t see a quick recovery happening. The recovery requires a systemic change. In 2020, the private sector should plan to adapt and survive. In 2021, they should look at excelling, growing and thriving. Many things that we did before will go online. Business models will need to change.”

Dr. Amer Al Rawas, the noted international consultant and executive coach, and chairman of Oman Society for Petroleum Services (OPAL) said, “Leaders need to rebuild trust. They need to regain the confidence of their employees, investors, suppliers and the community-at-large. On the consumer side, they need to come up with attractive promotions and offers to offset any habitual change and rebuild consumer confidence that has been lost over time.”

Nabeel Jawad Sultan, the founder & chairman of Nabay.com and Nabeel Sultan Investments, and the director of Jawad Sultan Group said, “Through Covid-19, nature has given us a simulation of what will happen if we don’t’ transform our business. Unfortunately, lots of businesses are integrating few technologies in their businesses and thinking that this is transformation. That’s not transformation. They need to understand that the entire eco-system has changed. One needs to integrate every aspect of the business to achieve real business transformation.”

Maqbool Al Wahaibi, the CEO of Oman Data Park (ODP) said, “Technology has managed to lift up sectors, manage their revenue and operational expenses. The companies should look at opex based models instead of capex based models to control their expenses and cash flows more effectively.”

The panel discussion was moderated by Mayank Singh, Group Editor of OER and businessliveme.com. The webinar attracted top business leaders, investors, C-level executives and business & investment consultants from key industries including banking & finance, investments, insurance, energy, technology, manufacturing, logistics, etc. as the audience. The webinar was managed by UMS Live with businessliveme.com as the digital media partner, Alam Al-Iktisaad Wal A’mal as the print media partner and omarto.com as the e-commerce partner.

To Watch the Full Video of the Webinar, Click Here

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196 e-commerce licences issued in UAE in May 2020

(WAM) — The e-commerce business sector was issued the highest number of licences in the UAE in May 2020.

Data from the National Economic Register, in coordination with relevant economic authorities, showed that 196 licences were issued for e-commerce retail businesses in May 2020.

The first five months of the year saw a 300 percent increase in consumer demand for e-commerce services, leading the Telecommunications Regulatory Authority, TRA, to publish a list of key e-commerce platforms.

The same report noted that 120 licences were issued to general trade businesses, as well as 115 to project management services, and around 97 for building painting activities.

The list of businesses issued the most licences includes 55 licences for all types of construction projects, along with 40 for the repair and maintenance of extensions and electrical installations, some 39 for dessert preparations, 36 for cold and hot drink sellers, and 33 each for snack stalls and new restaurants.

The total number of licences issued in the country in May 2020 amounted to 764. The issuance of business licences is expected to increase, led by the e-commerce sector.

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OPEC daily basket price stood at $36.83 a barrel Friday

(WAM) — The price of OPEC basket of thirteen crudes stood at $36.83 a barrel on Friday, 5th June, 2020, compared with $34.84 the previous day, according to OPEC Secretariat calculations.

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

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UAE researchers gain IP protection for new stem-cell treatment for COVID-19, confirm success of original trial

(WAM) — Researchers in the UAE trialing an innovative new stem cell treatment for COVID-19 infections have secured intellectual property rights protection, opening the way for the technology to be shared widely so more patients can benefit.

A team of doctors and researchers at the Abu Dhabi Stem Cell Centre, ADSCC, led by Dr Yendry Ventura, Inventor and Principal Investigator, announced last month they had discovered a unique new treatment for patients of COVID-19, which appeared to help the body fight the virus and make the disease less harmful. The treatment involves extracting stem cells from the patient’s own blood and reintroducing them as a nebulizing mist after reactivating them.

Initial results from the treatment, administered in the UAE to 73 COVID-19 patients with moderate to severe symptoms, were promising, with all patients responding well to the treatment, demonstrating it was well-tolerated. However researchers stressed at the time that the results were preliminary and further analysis of the data was needed.

ADSCC announced today that the results of that analysis showed the treatment was effective and safe as an add-on to standard care.

“The patients that received stem cells therapy improved faster than those who received the standard treatment only. Patients who received the stem cells treatment demonstrated clinical improvement within the first four days of treatment as evidenced by lower severity scores. The standard treatment group took eight days to show similar findings,’’ said Dr Fatema Alkaabi, Co-Principal Investigator and Specialist Hematologist at Sheikh Khalifa Medical City.

“For severe patients the duration of hospitalization for those who received the stem cells treatment was six days at the median – significantly lower than among similar patients who received the standard treatment, who spent a median of 22 days in hospital.’’ Further analyses revealed that patients treated with the stem cells treatment are 3.1 times more likely to recover in less than seven days than those treated with standard therapy, and 67 percent of the patients who received the stem cells treatment owe this recovery to the new treatment.

ADSCC also advised that the centre had secured intellectual property rights protection, including copyright and knowhow, for the treatment. This opened the way for the centre to make the details of the treatment available for others to replicate via a licensing arrangement once it had formal UAE Government approval.

Confirming the success of the treatment involved matching the data from the 73 patients in the trial to an equal number of historical controls, allowing researchers to compare the treatment outcomes.

The study measured the incidence of adverse effects, mortality rate within 28 days, and time to clinical improvement or discharge from hospital. Before treatment, a patient’s immune response profile, acute phase serum markers, and coagulation testing profile were evaluated.

Patients were excluded from the new treatment arm if they had hemoglobin levels below ten, any blood infections, a history of cancer, or received any treatment that was not part of the standard protocol such as convalescent plasma therapy. Patients below 18 years old were also excluded from the new treatment.

ADSCC said researchers are at various stages of several investigatory efforts to establish effectiveness (Phase 3 trial), optimal efficacy of dosage, and efficacy to treat other respiratory diseases such asthma, COPD, and cystic fibrosis.

Three protection levels have been obtained: a patent on the method of harvesting (Granted by the International Centre for Patent Registration. UAE Ministry of Economy, April 30th, 2020), copyrighted works of science on treatment procedure recommendations (Copyright Certificate No. EC-01-002809), characterization of a method to harvest the stem cells (EC-01-002810), and a cell obtaining procedure (EC-01-002811), all IP-works were registered on 26th May 2020, in European organisation INTEROCO Copyright Office (Germany) with worldwide recognition in all countries – members of Berne Convention on copyright, and Know-How protection under trade secret corporate legal framework.

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