Bloomberg Global funds used to clamour for more access to India’s debt markets. The high-yielding bonds are now the least popular in Asia as the nation struggles to contain the coronavirus pandemic. Overseas funds have sold $14.6 billion of Indian corporate and government bonds this year, the most among emerging-Asian nations, according to data compiled by Bloomberg. Indonesia has also ...

ABu Dhabi / WAM The Abu Dhabi National Oil Company (Adnoc) announced significant progress made on its “Crude Flexibility Project” (CFP) with 73% project delivery of Adnoc’s ongoing upgrade of refining capabilities in Ruwais and strengthening the role of Ruwais as a critical driver for industrial growth for Abu Dhabi and UAE. For more than 40 years, Adnoc has predominantly ...

Abu Dhabi / WAM The United Arab Emirates has condemned the Iranian-backed Houthi terrorist militia’s attempts to target civilian areas in the Kingdom of Saudi Arabia, the latest of which were the attacks which targeted the southern region in the Kingdom and which were all intercepted by the coalition forces. In a statement released on Monday by the Ministry of ...

Abu Dhabi / WAM Today, the Small and Medium Business (SMB) sector plays an important role in the UAE’s economy, accounting for 86% of the total private sector workforce and more than 60% of the country’s current GDP. Etisalat serves close to 300,000 SMB customers in the UAE, working closely with them in their digital transformation journey. The relevance of ...

Bloomberg Oil fell below $42 a barrel in New York at the start of a week that will see Opec+ gather to assess its supply deal as countries struggle to contain the virus that’s hurt economies and fuel demand globally. The Joint Ministerial Monitoring Committee — the panel which reviews the deal between the Organisation of Petroleum Exporting Countries (Opec) ...

SHARJAH / WAM The Sharjah Airport International Free Zone (Saif Zone) and the Hamriyah Free Zone Authority (HFZA) signed two Memoranda of Understanding (MoU) with the Sharjah Driving Institute (SDI) to develop two driver training units in each zone. This is being done to enhance cooperation between both parties to achieve their common objectives, including strengthening public-private partnerships and providing ...

Dubai / Emirates Business Dubai’s trade with Africa could see an annual increase of up to 10% over the next five years following the implementation of the African Continental Free Trade Agreement (AfCFTA), according to Dubai Chamber of Commerce and Industry’s latest forecast. The outlook for Dubai-Africa trade and new bilateral business opportunities created by AfCFTA were among the main ...

Dubai / Emirates Business Emirates will resume passenger flights to Warsaw from September 4 starting with twice-a-week services, and increasing to three-a-week from October 7. The resumption of flights to Warsaw will expand Emirates’ current network to 75 cities in September, offering travellers in Middle East, Africa and Asia Pacific convenient connections via Dubai to the Polish capital. The airline ...

ATHENS / WAM Greece has congratulated the governments of the UAE and Israel on the historic peace accord. A statement released by Ministry of Foreign Affairs of Greece said that this agreement – concluded between two close partners of Greece with the pivotal and constructive support of the US – constitutes a victory for diplomacy and an important step towards ...

Dubai / WAM During a meeting with the “Artificial Intelligence, Digital Economy and Teleworking Applications Team,” His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, stated, “Our priorities are the development of the digital economy that will contribute to our national economy, reinforce the country’s smart infrastructure, ensure our digital ...