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ABU DHABI / AGENCIES Abu Dhabi’s Mubadala Investment Company on Monday released its full-year 2018 annual review showcasing operational performance and significant scale across sectors with strong growth potential. Despite global macroeconomic turbulence in the fourth quarter of the year, the group delivered stable financial results, with total comprehensive income at AED12.5 billion. In line with Mubadala’s strategy to diversify …

Bloomberg China has tapped Saudi Arabia for a record volume of crude as the world’s biggest exporter plugs a shortage from sanctions-hit Iran. Asia’s biggest buyer shipped 7.72 million metric tonnes of crude, or 1.89 million barrels a day, from Saudi Arabia last month, according to data from China’s General Administration of Customs. Shipments from the Opec producer made up …

ABU DHABI / WAM The United Arab Emirates continues to send aid convoys carrying all essential items, including medical supplies, to the Yemeni governorate of Dhale through the Emirates Red Crescent (ERC). An ERC volunteer team oversaw the distribution of the relief convoys in the presence of Major General Ali Muqbel, Governor of Dhale, who appreciated the UAE’s continuous support …

Bloomberg Almost three months after their trade talks broke down in acrimony, Chinese and American negotiators meet again in Shanghai this week amid tempered expectations for breakthroughs in their yearlong trade war. Two days of talks are scheduled to restart on Tuesday after an uneasy truce reached by Presidents Donald Trump and Xi Jinping on the sidelines of the Group …

Bloomberg Saudi Basic Industries Corp. has no interest in taking over Clariant AG after the chemicals makers last week halted talks on their high-performance plastics venture, the company’s chief executive officer said. “Our investment in Clariant is a strategic investment, we’re going to continue to look at this investment as a growth opportunity,” Yousef Abdullah Al Benyan told reporters in …

Bloomberg President Donald Trump has rejected, for now, the idea of aggressive currency intervention that could give the US an edge with its trading partners by weakening the dollar, according to two people familiar with the matter. The decision came at a White House meeting focussed on trade. Part of the agenda included a discussion of Trump’s concerns about the …

ABU DHABI / WAM The UAE on Saturday announced a $50 million donation to the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA), as part of its commitment to supporting the Palestinian people. With this donation, UNRWA will provide health services to Palestinian refugees —mothers and children — implement educational programmes to ensure the …

Bloomberg US President Donald Trump opened another chapter in the trade war with China, ordering his top trade negotiator to pressure the World Trade Organization (WTO) to crack down on countries the US doesn’t think should be allowed to declare themselves developing nations. Trump singled out China in a memo to US Trade Representative Robert Ligh- thizer, saying that “the …

Bloomberg Oil finished higher for the week after a volatile trading session that pitted gnawing doubts about global demand against supply threats from the Middle East and beyond. Futures gained 0.3 percent in New York and ended the week up 1 percent, reversing from last week’s steep loss. Oil turned higher after Mexico’s state-run oil company said crude output fell …

ABU DHABI / WAM As of December 2018, a total of 1,088 licences have been issued for the nuclear sector in the UAE, according to Federal Authority for Nuclear Regulation’s 2018 Annual Report. Official statistics showed that as of December 2018, FANR issued 483 new licences, 459 licence renewals, and 146 licence amendments to conduct activities using radiation sources in …