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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 …

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 …

ABU DHABI / WAM The UAE strongly condemned the Houthi missile attack against a mosque in Yemen’s Marib province, which resulted in numerous deaths and injuries. The Ministry of Foreign Affairs and International Cooperation affirmed UAE’s utter condemnation of criminal act and its firm rejection of all forms of violence and terrorism aimed at undermining security and stability in contravention …

ABU DHABI / WAM Mohammed Saif Al Suwaidi, Director-General of Abu Dhabi Fund for Development (ADFD), said that the Fund is keen to expand its development activities in developing countries, especially across the African continent that holds significant potential for growth. Welcoming a visiting high-level delegation from Ethiopia, led by Muferiat Kamil, Ethiopia’s Minister of Peace, at the Fund’s headquarters …

ABU DHABI / WAM Hub71, Abu Dhabi’s tech ecosystem on Monday launched the region’s first ‘Microsoft Reactor Programme’ as it further expanded its ecosystem to 35 innovative startups with the announcement of 17 winners of the Hub71 Incentive Package. As part of its strategic partnership with Microsoft, Hub71’s Microsoft Reactor programme will be a centre for technical learning and knowledge-sharing …

DUBAI / WAM Dubai Aerospace Enterprise (DAE), announced on Monday that it has signed a $300 million four-year unsecured term loan with China Construction Bank DIFC Branch, and China Construction Bank (Asia) Corporation Limited. The principal amount of the loan can be increased to $500 million. The loan will support the future financing needs of the business. Commenting on the …

Bloomberg Dozens have been killed and wounded in a missile attack on a training camp for government forces in the central province of Marib, Yemen, according to the Mareb Press news website. Citing an undisclosed medical source, the website said that 30 soldiers were killed and over 50 others wounded in an attack by missiles and drones, adding that the …

Bloomberg Most Middle Eastern equity markets gained at the start of the week, with investors focusing on earnings across the region. Dubai’s benchmark index rose for a seventh consecutive session as banks and real estate companies climbed. Stock gauges in Bahrain, Oman, Kuwait and Egypt also advanced. Saudi retailer United Electronics Company, or Extra, finished at a record high after …

DUBAI / WAM The growth pace of the regional logistics industry is set to intensify in the year 2020 on the back of boosted UAE growth expectations. The UAE is hosting the region’s first Expo, in 2020, a mega event which is poised to start in October and for which preparations are in full swing. The growth driven by the …

ABU DHABI / WAM Recent statistics issued by the Organisation of the Petroleum Exporting Countries (Opec), highlighted a decrease in its production by 6.3 percent or some 2 million barrels per day in 2019, compared to 2018. This decrease is in line with the organisation’s recent decisions, in coordination with major independent producers, to maintain the balance in the global …