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 …
Read More »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 …
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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 …
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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 …
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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 …
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Bloomberg Libyan commander Khalifa Haftar blocked oil exports at ports under his control, slashing output by more than half and posing a potential setback for an international conference on Sunday that aims to broker an end to a civil war in the Opec nation. As a result of the blockage of ports in the central and eastern parts of the …
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Bloomberg Chinese manufacturers offered the biggest support to the country’s economic stabilisation in the last three months of 2019, thanks to easing trade tensions and improving global demand. Output in industrial enterprises rose 5.9% from same period in 2018, National Bureau of Statistics said on Saturday, bouncing back from an almost decade-low of 5% in the prior quarter. Manufacturers, accounting …
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Bloomberg Mobile app spending and usage hit a record in 2019 and show no signs of tapering off this year as faster cellular connections and more big-name video streaming services come online, industry tracker App Annie says. In the past year, mobile apps accumulated $120 billion of global consumer spending, with games accounting for 72% of that. Advertising brought in …
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ABU DHABI / WAM Masdar, one of the world’s leading renewable energy companies, signed a power purchase agreement (PPA), with Perusahaan Listrik Negara (PLN), the state electricity company in Indonesia, for the first floating solar photovoltaic (PV), plant in the country. Dr Sultan bin Ahmad Al Jaber, UAE Minister of State and Chairman of Masdar, and Zulkifli Zaini, President Director, …
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ABU DHABI / WAM According to statistics from the Ministry of Economy, the total value of non-oil trade between the UAE and Japan reached AED481.34 billion or $130.8 billion over the past ten years from 2009 to 2019. These statistics highlight the growing trade and economic relations between the two countries, with the value of their overall trade in the …
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