News

Bloomberg Euro area inflation will be faster than previously thought this year and next before slipping well below the European Central Bank’s goal in 2023, according to economists polled by Bloomberg. Consumer-price growth will peak at 4.2% late in the fourth quarter, above the previous prediction of 3.6%, according to the median forecast from the survey. A year later, the ...

Bloomberg The European Union (EU) will unveil new rules for companies selling six major commodities in a bid to cut global deforestation. The European Commission, the 27-nation bloc’s executive arm, wants the draft regulation to cover soy, beef, palm oil, wood, cocoa and coffee, as well as some derived products such as chocolate, leather and furniture. The plan will require ...

ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan has issued the Federal Decree — Law No.33 of 2021 on the regulation of labour relations in the private sector that will take effect from February 2, 2022. The new decree-law seeks to enhance the elasticity, resilience and sustainability of the labour market nationwide, as well as ...

ABU DHABI / WAM Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence, has stated that the UAE, represented by its wise leadership and people, is keen to convey its message of peace and tolerance to the entire world. Sheikh Nahyan commended to the UAE’s successful experience, which extends for nearly 50 years. He noted that the homeland ...

DUBAI / WAM On the third day of the Dubai Airshow 2021, the Ministry of Defence announced the conclusion of 6 deals worth AED 4,257,401,000.00 with local and international companies. This brings the total deals concluded during the first three days to 16 deals, with a total value of AED 20, 781,446,000.00. The deals of the first day amounted to ...

ABU DHABI / WAM Tawazun Economic Council (Tawazun) and Al Yah Satellite Communications Company PJSC (“Yahsat” and, together with its subsidiaries, “the Group”) the UAE’s flagship satellite solutions provider, on Tuesday announced the signing of an agreement for the incorporation of their proposed joint venture, Star Technologies, at Dubai Airshow. Star Technologies will develop best-in-class satcom capabilities, building upon the ...

ABU DHABI / WAM The UAE and Russian Federation have signed a ‘declaration of intent’ to form a joint task force that will work to promote cooperation between the two countries in the energy sectors specifically in clean energy. The announcement aims to achieve sustainable developments requirements, as well as, Paris Climate Change Agreement as the two countries are pioneers ...

DUBAI / WAM Sarah bint Yousif Al Amiri, UAE Minister of State for Advanced Technology and Chairwoman of the UAE Space Agency, discussed with Kamal bin Ahmed Mohammed, Minister of Transportation and Communications and Chairman of the National Space Science Agency in the Kingdom of Bahrain, ways to enhance prospects for cooperation in the space sector. In their meeting on ...

Sharjah / WAM HH Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah and Chairman of Sharjah Executive Council (SEC), chaired on Tuesday the meeting of the Executive Council at the Ruler’s Office. The meeting discussed a number of topics on its agenda on developing government work of the development projects in all vital ...

Dubai / Emirates Business The Dubai Financial Market (DFM) on Tuesday announced an incentives program to encourage new IPOs and listings from private sector companies representing numerous rapidly growing economic sectors that strongly contribute to GDP as well as the new-economy related firms. The program encompasses unprecedented incentives including financial support to the cost of private companies’ IPOs on DFM’s ...