Bloomberg South Africa raised prices on gasoline and diesel prices for October, blaming the attack on Saudi Arabia’s crude oil infrastructure for the increase. “Had it not been for the stronger rand during this period, the impact of the attacks on Saudi facilities on prices would have been more severe,” Gwede Mantashe, the minister responsible for mining and energy, said ...

Bloomberg The Federal Reserve’s new round of interest-rate reductions just might be working. At least, that’s what one obscure, but key, stock market indicator suggests. For the first time since 2016, companies with fragile balance sheets are outperforming their sturdier peers and the broad market, a pair of Goldman Sachs indexes show. That’s a clear sign that the rate cuts ...

Bloomberg Bitcoin’s 20 percent drop was likely fuelled by the effect of Intercontinental Exchange Inc’s (ICE) new futures contracts and an unwinding of long positions, according to JPMorgan Chase & Co. The cryptocurrency’s plunge, its biggest in a week since last November, took it from around $10,000 to a close of $8,061. Though the strategists led by Nikolaos Panigirtzoglou were ...

ABU DHABI / WAM In collaboration with Abu Dhabi’s Department of Transport (DoT), and Abu Dhabi Ship Building Company, the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi), participated in the Monaco Yacht Show for the first time this weekend. The event is considered to be Europe’s largest in-water display of yachts. DCT Abu Dhabi sponsored the ...

ABU DHABI / WAM Abu Dhabi General Services Company (Musanada), in collaboration with Al Dhafra Municipality, has revealed that the ladies beach project in Al Sila city, close to Al Sila port, is now 67 percent complete. Being the first of its kind in Al Dhafra region, the beach will stretch over 18,300 metres with a total cost of AED27 ...

Dubai / Emirates Business Emirates will be operating its A380 service to Cairo International Airport on October 2, making it the first scheduled commercial airline to operate an A380 flight into Egypt. With the intent to make the world’s largest commercial passenger jet a part of the airline’s scheduled service to Cairo, this inaugural flight will re-affirm the airport’s infrastructure ...

ABU DHABI / WAM The UAE has made significant improvements in developing and strengthening its nuclear emergency preparedness and response arrangements for Barakah Nuclear Power Plant since the 2015’s Emergency Preparedness Review (EPREV), Service visit to the UAE, according to experts of the International Atomic Energy Agency (IAEA). This came after a five-day follow-up review by IAEA experts to the ...

DUBAI / Emirates Business DP World, UAE Region and Jebel Ali Free Zone (Jafza) attracted keen interest from small and medium enterprises (SMEs) and micro, small and medium enterprises (MSMEs) at the 16th CII Global SME Business Summit, which was held in New Delhi. As a part of the India – UAE Bridge initiative, the team engaged with Indian SME ...

MOSCOW / WAM Moscow has hosted the second meeting of the UAE-Russian Industrial, Technological and Scientific Cooperation Team. The meeting was chaired by Dr Mattar Hamed Al Niyadi, Under-Secretary of the Ministry of Energy and Industry, and Alexei Vladimirovic, Deputy Minister of Industry and Commerce of Russia. During the meeting, both sides highlighted the importance of the ongoing partnership between ...

Bloomberg The largest Indonesian phone operator said it will wait to see how the spat between US officials and Huawei Technologies Co ends before picking suppliers for 5G wireless equipment. Southeast Asia’s largest market for telecom services is still several years from launching 5G services, allowing PT Telekomunikasi Indonesia time to decide whether to pick Huawei as a supplier, President ...