Bloomberg Crude posted the worst weekly decline in more than a year on concern that the spread of China’s coronavirus will cripple fuel demand. Brent futures sank 2.2% in London. Deaths from the coronavirus rose to at least 26 and China expanded travel restrictions for about 40 million people in an attempt to halt contagion. The US is monitoring more …
Read More »ABU DHABI / WAM The UAE Consulate in Houston has confirmed that all Emiratis in Houston are safe following the explosion that occurred in a factory in the city, advising all UAE citizens in Houston to register for the online “My Presence” service via the Ministry of Foreign Affairs’ website or its smart application and to communicate with the consulate …
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TASHKENT / WAM In the presence of Sardor Umurzakov, the Uzbekistan Minister of Investments and Foreign Trade, an implementation agreement was signed at a ceremony in Tashkent, Uzbekistan, by the Ministry of Investment and Foreign Trade, and JSC Thermal Power Plants of the Republic of Uzbekistan (JSC), and Mubadala Investment Company (Mubadala). The agreement establishes a roadmap for the future …
Read More »Bloomberg Boeing Co. is considering another cut to production of its marquee 787 Dreamliner as the aerospace giant contends with sluggish demand. Executives are studying whether to trim monthly output by two planes to 10 a month from a reduced pace that was announced in October. While no final decision has been made, a new production schedule for the twin-aisle …
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ABU DHABI / WAM The UAE has once again proved itself a resilient business hub, as its been named the world’s number one “mover” by US News 2020 Best Countries Rankings, for the second year in a row. According to the report, which is compiled in partnership with Bav Group and Wharton School of the University of Pennsylvania, “The World …
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ABU DHABI / WAM The Organisation of Petroleum Exporting Countries (Opec), has projected an increase in the global demand for oil to 100.98 million barrels per day (mbpd) during 2020, an increase of 1.22 mbpd compared to the average production of 99.77 mbpd for 2019, according to the Organisation’s Monthly Oil Market Report for January. World oil production includes all …
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Bloomberg President Donald Trump said he’s begun talks with World Trade Organisation (WTO) director-general Roberto Azevedo on changing the structure of the body, which he complained has been unfair to the US. Azevedo will travel to the US for negotiations, Trump said on Wednesday at a news conference to close his visit to the World Economic Forum annual conference in …
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Bloomberg China’s pledge to boost imports from the US under a recently signed trade deal could end up costing the European Union about $11 billion next year. “If trade costs and hence relative prices do not change, Chinese imports from the US must come at the expense of third countries,†according to Germany’s Kiel Institute for the World Economy, contradicting …
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Bloomberg Oil fell as global markets remained comfortably supplied despite the suspension of exports from Libya, and as equities faltered on political and economic worries in Asia. Brent crude lost as much as 1.8% in London, approaching $64 a barrel. Libyan ports have been closed on the orders of militia leader Khalifa Haftar while he haggles over a peace settlement …
Read More »DUBAI / WAM Emaar Properties PJSC signed a Memorandum of Understanding with Xiaomi, a global technology leader with the world’s largest Internet of Things (IoT), consumer platform, to launch ‘Emaar Smart Home’ – a new, next-generation product for customers to experience the latest smart home technology powered by Artificial Intelligence. Emaar’s new product will launch in 2020 as an exclusive …
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