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Cairo / Emirates Business The Emirates NBD Purchasing Managers’ Index (PMI) for Egypt, sponsored by Emirates NBD and produced by IHS Markit, contains original data collected from a monthly survey of business conditions in the Egyptian private sector. Commenting on the Egypt PMI survey, Daniel Richards, MENA Economist at Emirates NBD, says, “The positive PMI reading for the first month …

KHARTOUM / WAM The Kingdom of Saudi Arabia is making strenuous efforts for the convenience and comfort of millions of pilgrims while performing the fifth pillar of Islam, stated Dr Mohammed Mattar Al Kaabi, Chairman of the General Authority of Islamic Affairs and Endowments, Awqaf, and Head of the UAE Haj Mission. “The KSA warmly welcomes millions of pilgrims and …

ADDIS ABABA / WAM Ethiopian Prime Minister, Abiy Ahmed, received Reem bint Ibrahim Al Hashemy, Minister of State for International Cooperation, and discussed prospects for joint cooperation, especially in vital areas of energy, infrastructure, investment, free industrial zones and civil aviation. While in the capital, Addis Ababa, Al Hashemy held a series of meetings with Ethiopian senior officials, tackling bilateral …

ABU DHABI / WAM The UAE has strongly condemned a vehicle explosion that took place when gendarmerie and public security personnel were taking part in a joint patrol in the Jordanian capital, Amman. “The UAE stands in solidarity with the Hashemite Kingdom of Jordan against any attempts to its security and stability and supports whatever measures it may take to …

Bloomberg Fears about global oil supplies have receded after producers pumped more, according to the International Energy Agency (IEA), which a month ago warned of a potential shortage. “Concerns about the stability of oil supply have cooled down somewhat, at least for now,” the agency, which advises most of the world’s major economies, said in a monthly report. “We have …

Bloomberg After partnering for nearly three decades at Australia’s oldest liquefied natural gas export plant, Woodside Petroleum Ltd. and Chevron Corp. are competing to shape the next phase of the country’s gas development. Both are vying to build a pipeline from hundreds of kilometers offshore that will allow them to develop their own fields, as well as let third parties …

ABU DHABI / WAM The UAE has been ranked as the largest donor of emergency humanitarian assistance to Yemen in the world for 2018. According to the Financial Tracking Service (FTS), a centralised source of information on humanitarian funding flows, the UAE is also the second-largest source supporting the 2018 Yemen Humanitarian Response Plan (YHRP) following the Kingdom of Saudi …

KHARTOUM / WAM Hamad Mohammed Humaid Al Junaibi, UAE Ambassador to Sudan, and Mohammed Ahmed Ali Ibrahim, Sudanese Minister of Minerals, have discussed issues of mutual interest and investment opportunities in the mining sector. In a meeting held at the ministry’s premises in Khartoum, the Sudanese Minister lauded the excellent bilateral relations, welcoming UAE investments in all fields especially in …

Bloomberg Oil slid in New York, reversing two gains of days, as concerns over escalating trade tensions between China and the US overshadowed signs of tighter supply. Futures dropped 1.5 percent. American crude inventories as well as those in the key hub of Cushing, Oklahoma, slipped last week, the American Petroleum Institute was said to report. China’s Ministry of Finance …

WARSAW / WAM Dr Youssef Issa Hassan Al Sabri, UAE Ambassador to Poland, has discussed with Jerzy Kwiecinski, Minister of Investment and Economic Development of Poland, the distinguished bilateral relations and ways of enhancing cooperation in the economic, trade and investment sectors. This came in line with the embassy plan to boost relations between the UAE and Poland in all …