Abu Dhabi / WAM The UAE has established a national approach to transform challenges into opportunities and achieve growth and qualitative achievements in all areas. People of determination are progressing with the support and care of the UAE’s leadership towards successes and achievements, benefitting from an ideal and inclusive environment that ensures stability and motivates them to play a prominent ...

Bloomberg Saudi Aramco’s downstream business, a key area of investment for the world’s largest oil exporter, saw its earnings more than double as it benefited from a global shortage of refining capacity. The unit, which produces transport fuels like gasoline and diesel, reported $10.2 billion in first-quarter earnings before interest and taxes, up from $4.4 billion a year earlier, it ...

  DUBAI / WAM The 21st edition of the annual Airport Show hosted by Dubai, the world’s largest annual airport event, starting May 17-19, at the Dubai World Trade Centre (DWTC) is set to be the driving force for the global aviation industry to emerge even stronger after the Covid-19 pandemic and will showcase the latest solutions from around the ...

Bloomberg Oil rallied as a global squeeze on refined products continued to pull fuel prices higher. West Texas Intermediate rose 1.6% to trade near $112 on Monday as US gasoline futures topped $4 a gallon for the first time ever. Rising futures tend to trickle through to the pump quickly, signaling more pain for drivers when the summer driving season ...

  Bloomberg Britain’s departure from the European Union may make the economy more sensitive to inflation, a Bank of England rate setter said. “Brexit has reduced the UK’s potential output,” said Michael Saunders, one of the nine members of the Monetary Policy Committee. “It may also have increased the extent to which, if there is excess demand in the economy, ...

Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan continues to accept condolences from heads of state, government leaders, and delegates from nations around the world over the death of late Sheikh Khalifa bin Zayed Al Nahyan. His Highness Sheikh Mohamed bin Zayed Al Nahyan received condolences, at Mushrif Palace in Abu Dhabi, from His Royal ...

Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan continues to accept condolences from heads of state, government leaders, and delegates from nations around the world over the death of Sheikh Khalifa bin Zayed Al Nahyan. His Highness Sheikh Mohamed bin Zayed Al Nahyan received condolences, at Mushref Palace in Abu Dhabi, from His Royal Highness ...

  Bloomberg The euro area’s pandemic recovery would almost grind to a halt, while prices would surge even more quickly if there are serious disruptions to natural-gas supplies from Russia, according to new projections from the European Commission. Under a severe scenario, the currency bloc’s economy would expand about 0.2% this year, with inflation topping 9%, as governments struggled to ...

Bloomberg Ant Group Co has completed the first sustainability-linked loan arrangement in China’s tech sector. The Chinese fintech company spun off from Alibaba Group Holding Ltd has arranged a sustainability-linked revolving credit line with French bank BNP Paribas SA, according to a statement. Sustainability-linked loans (SLLs) have interest rates that change depending on if corporations are able to meet certain ...

Bloomberg New Zealand will accelerate its adoption of electric vehicles and investigate hydrogen as an alternative energy source as it seeks to phase out fossil fuels and play its role in mitigating global warming. Announcing its first emissions reduction plan in Wellington, the government said it will initially allocate NZ$2.9 billion ($1.8 billion) over four years to fund a range ...