Bloomberg The rapid spread of a deadly virus from China will be top of emerging-market investors’ minds as they ponder its impact on the global economy. Concern that the outbreak will develop into something akin to the Sars pandemic of 2003 halted a seven-week rally in developing-nation stocks, currencies and bonds in the five days through Friday. The yuan underperformed …
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NAIROBI / WAM Policy makers, mayors, academics, business people, community leaders, artists and urban planners are among thousands of participants to attend the world’s leading conference on urbanisation, the World Urban Forum (WUF), in Abu Dhabi from February 8-13. It will be the first time that the World Urban Forum, which is convened by the UN agency focused on sustainable …
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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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