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Emirates Business Agthia Group, a leading food and beverages company in the region, and part of ADQ, one of the region’s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy, announced the group’s net revenue reached AED 492.1 million for the third quarter, a 1.2 growth verses Q3 2019. The increase …

Abu Dhabi / WAM The UAE has expressed its strong condemnation and denunciation of the Iranian-backed Houthi terrorist militias’ attempt to target civilian areas in the Kingdom of Saudi Arabia with six bomb-laden UAVs that were intercepted by the Coalition Forces. In a statement, the UAE Ministry of Foreign Affairs and International Cooperation emphasised that the recent increase in Houthi …

Bloomberg Saudi Arabia’s Red Sea Development Co plans to close on a 14-billion riyal ($3.7 billion) loan from five domestic banks by the end of the year as it steps up construction on a luxury tourism project about the size of Belgium, its chief executive said. The developer has been seeking financing since last year for the project, which stretches …

Bloomberg Australia’s economy could contract by 6% over the next five decades if climate change goes unchecked, according to Deloitte Access Economics. That’s equivalent to a A$3.4 trillion ($2.4 trillion) loss in gross domestic product and 880,000 fewer jobs, Deloitte said in a report. The group said its modeling differs from others in setting a benchmark for growth which incorporates …

Bloomberg Oil posted its largest monthly drop since March as renewed lockdown measures to contain the coronavirus threatened to upend a shaky demand recovery. Futures fall 1.1% in New York to end the week below $36 a barrel taking their cue from a broader market selloff and the worst week for US stocks since March. At the same time, the …

Bloomberg When talking about the biggest company in the world, it’s not unusual for there to be eye-popping numbers. But Apple Inc.’s latest superlative is not one investors would like to see. Since becoming the first American company to surpass $2 trillion in market value in August and peaking last month, the iPhone maker has lost $450 billion, wiped out …

Al Ain / WAM The UAE is the latest country to join the UK-initiated Global Ocean Alliance, a group of 32 countries working to protect the ocean and improve the livelihoods of coastal communities. As its core goal, the Alliance calls for safeguarding at least 30 percent of the world’s oceans by 2030 through marine protected areas. The UAE is …

Bloomberg Oil falls sharply with broader markets as renewed restrictions on movement in Europe clouded the outlook for the consumption once again. Crude futures in New York fall 4.6%, while those in London retreated below $40 a barrel, the lowest since October 5. Germany is proposing widespread curbs for a month, while France is preparing tougher restrictions that may include …

Bloomberg Green power is set to draw around $11 trillion of investment in the coming decades as the cost of renewables plummets and more of the world’s energy comes from electricity. That’s the latest analysis from BloombergNEF (BNEF) in its annual New Energy Outlook report. It’s further evidence of how cheap renewable power sources will continue to push aside fossil fuels …

Bloomberg Oil falls to the lowest in three weeks as the threat of increased Libyan crude output added to concerns that a resurgence of the coronavirus will weaken the global economy. Futures in New York fell as much as 3.7% to below $39 a barrel on Monday. Libya’s daily output has risen to 690,000 barrels from less than 100,000 in …