News

Abu Dhabi / WAM The Abu Dhabi National Oil Company (Adnoc), is creating new opportunities for partnerships and investments as it pursues a balanced smart growth strategy and drives responsible production to reliably meet the world’s growing energy demand, according to Dr Sultan bin Ahmad Sultan Al Jaber, Minister of State and Adnoc Group CEO. Speaking in London at the …

Sharjah / WAM The Emirates Red Crescent (ERC), launched a new humanitarian initiative titled, ‘Orphans Kafalah Programme’, to support 10,000 orphans in 25 countries, under the slogan, ‘Be Their Families’. The programme was launched on social media and SMS in cooperation with Etisalat, and is being promoted in malls for three days around the country, including in Yas Mall, Abu …

Abu Dhabi / WAM The International Air Transport Association (IATA), presented its latest study on the importance of air transport to the UAE showing that ongoing prioritisation of aviation as a key strategic asset could generate an additional 620,000 jobs and an extra $80 billion in GDP for the nation’s economy by 2037. According to the IATA study, air transport’s …

ABU DHABI / WAM The Ministry of Foreign Affairs and International Cooperation lifted the ban on Emirati citizens travelling to Lebanon, with effect from Wednesday. Khalid Balhoul, Ministry’s Under-Secretary, said the decision came following an extensive follow up by Ministry to border security and after obtaining related guarantees from Lebanese government. “The decision to lift the travel ban emanates from …

GENEVA / WAM The Emirate of Dubai, represented by the Dubai Investment Development Agency (DUBAI FDI), been elected for the Presidency of the World Association of Investment Promotion Agencies (Waipa). Dubai FDI will be the president of the new Steering Committee that will lead the global FDI body from 2019 to 2021, reflecting the confidence of the international community in …

Bloomberg Kristalina Georgieva, in her first major address as head of the International Monetary Fund (IMF), painted a downbeat picture of the world economy and said a more severe slowdown could require governments to coordinate fiscal-stimulus measures. In a speech that sets the tone for next week’s annual meeting of the IMF, Georgieva said the fund will cut its growth …

Abu Dhabi / WAM The UAE has around AU$26 billion (AED64 billion) worth of investments in Australia, revealed a senior Australian official on Monday. The Australian Deputy Prime Minister Michael McCormack, said that Australia and the UAE enjoy a strong bilateral relationship in areas including trade and investment, defence, law enforcement, security and consular cooperation. He told the Emirates News …

LONDON / WAM Masdar, a subsidiary of Mubadala Investment Company, on Monday joined UK government leaders in London for a specialised industry event to discuss its recent investment in the Charging Infrastructure Investment Fund (CIIF). Last month, Masdar became the first commercial investor in UK government’s GBP400 million CIIF, which aims to more than double the country’s electric vehicle charging …

LONDON / WAM UAE-linked Petrofac, an international service provider to the oil and gas production and processing industry, has secured a contract to support the appraisal and selection phase of the Greater Buchan Area development in Britain’s North Sea. Under the terms of the agreement, Petrofac will provide facilities and well support to Jersey Oil & Gas (JOG), which was …

Bloomberg Oil gained after its biggest weekly slump since July ahead of the resumption of US-China trade talks that may sway a cloudy demand outlook. Futures in New York added as much as 1.7% after losing 5.5% last week. Chinese officials are signaling they’re increasingly reluctant to agree to a broad deal pursued by President Donald Trump, according to people …