News

  Bloomberg The flight of millions of Ukrainians from Russia’s invasion has raised financial costs for the countries on the European Union’s eastern border that are taking them in, but the case of Poland shows that providing shelter can also bring economic benefits. The EU’s largest eastern economy expanded at the faster pace than Hungary and Romania, its other two ...

  Abu Dhabi / WAM The Federal National Council (FNC) confirmed trust in His Highness Sheikh Mohamed bin Zayed Al Nahyan, as president of the UAE to ensure a bright future for the nation. This statement was made by FNC on the occasion of the election of President His Highness Sheikh Mohamed, which was given by Saqr Ghobash Speaker of ...

MUMBAI / WAM Mumbai hosted the CII India UAE Economic Partnership Summit after the signing of the Comprehensive Economic Partnership Agreement (CEPA) between the two countries that came into force on May 1. The event was attended by over 200 public and private sector representatives, investors, representatives of small and medium-sized enterprises (SMEs) and entrepreneurs. The economic summit crowns the ...

  Abu Dhabi / WAM The UAE has become Germany’s most important trading partner in the Middle East, said Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, adding that the non-oil trade between the two countries amounted to $9.5 billion during 2021, a 10.5% increase compared to 2020. He said this while addressing an event in ...

  Abu Dhabi / WAM The Ministry of Economy (MoE) and the International Cooperative Alliance (ICA), the largest global cooperative organisation, signed a memorandum of understanding (MoU) to develop the structure of the UAE’s project aimed at strengthening the national cooperative sector. The partnership forms part of the ministry’s strategy to improve the performance of the country’s cooperative sector and ...

  Abu Dhabi / WAM Etihad Credit Insurance, the UAE Federal export credit company, has signed a memorandum of understanding (MoU) with Turkey’s export credit agency — Turk Eximbank to enhance trade and support business relations between the UAE and Turkey. The two export credit agencies will work together to facilitate trade and export and ease access to credit insurance ...

  DUBAI / WAM The Dubai Financial Market (DFM) announced on Thursday that it is launching trading of its new Micro Oman Crude Oil Contracts on June 1, providing investors with a unique investment opportunity The Micro Oman Crude Oil Contract will represent a significant addition to DFM growing futures market. It enables investors’ seamless access to gain on the ...

  Abu Dhabi / WAM Alpha Dhabi Holding announced its commitment to invest AED9.2 billion ($2.5 billion) in Chimera Capital and Alpha Wave’s landmark “Alpha Wave Ventures II” venture fund, which was announced and launched at the beginning of the year. The total commitment comprises a capital contribution of AED2.6 billion and an undrawn capital commitment of AED6.6 billion, which will ...

  Abu Dhabi / WAM Dr Ahmad Belhoul Al Falasi, Minister of State for Entrepreneurship and SMEs and Chairman of the UAE Tourism Council, revealed that the UAE’s tourism sector achieved a new growth milestone in Q1 2022, underlining its competitiveness at both regional and global levels. He attributed the sector’s latest achievement to the unlimited support and directives of ...

  Sharjah / WAM His Highness Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah, was briefed on Thursday on the preparations for the 22nd edition of Sir Bu Nair Festival, this came during a meeting via video call, with the Supreme Committee of the festival. The meeting was attended by Hana Saif Al Suwaidi, Chairperson of ...