News

Bloomberg Malaysia lowered its 2021 economic growth forecast for a second time, as renewed movement restrictions and rising infections hamper the recovery. Gross domestic product is expected to expand 3%-4% this year, Bank Negara Malaysia said, down from an earlier estimate of 6%-7.5% growth. Malaysia’s economy shrank 2% in the second quarter on a seasonally adjusted basis compared to the ...

Bloomberg Mumbai will restart commuter train services for fully vaccinated residents from Sunday, a move that could tackle traffic jams that are popping up as Covid-19 cases drop off but also one that risks transmitting the virus across India’s financial hub. Services had been halted since March 2020, making it the longest shutdown for a railway system that has survived ...

Bloomberg Taiwan raised its economic growth forecast for this year as an export and investment boom continues and it begins easing virus restrictions, giving a boost to consumption. The government increased its full-year estimate for gross domestic product to 5.88% from a previous forecast of 5.46%. That would be Taiwan’s strongest annual growth since 2010 when the economy bounced back ...

ABU DHABI / WAM The UAE has strongly condemned the Iran-backed Houthi terrorist militias’ systematic attempts to attack civilians and civilian objects in Khamis Mushait, Saudi Arabia, with an explosive drone, which was intercepted by the Coalition Forces. In a statement released by the Ministry of Foreign Affairs and International Cooperation (MoFAIC), the UAE reiterated that these systematic terror attacks ...

Bloomberg Oil dipped, trimming a weekly advance, as the fast-spreading delta variant continues to cloud the short-term demand outlook. Futures closed nearly 1% lower in New York, narrowing a weekly gain to 0.2%. The latest Covid-19 wave is leading to tighter curbs on movement across the globe, though there are mixed assessments on its impact. The International Energy Agency (IEA) ...

Bloomberg Initial public offerings are coming thick and fast in mainland China, with Shanghai set to host the world’s two biggest listings this year as domestic investors look past the government’s regulatory crackdown. It’s a different story in Hong Kong, a global center for IPOs that’s seen only one offering so far this month. International investors who use the financial ...

ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan has sent a message of congratulations to President Arif Alvi of Pakistan on the occasion of his country’s Independence Day, which is marked on August 14. HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and HH Sheikh Mohamed bin Zayed ...

SHARJAH / WAM The Sharjah Electricity, Water and Gas Authority (Sewa) has completed 50 percent of the project to extend a strategic line to transfer water from Al Rahmaniya to Al Azra, to enhance the efficiency of the network and regulate water pressure, as well as serve all the areas that it passes through, especially the Sustainable City next to ...

VIENNA / WAM The OPEC Fund for International Development (OFID) has announced the signing of a $70.5 million loan agreement with Jordan to help mitigate the socio-economic impact of the Covid-19 pandemic by providing social safety net programmes and stimulus packages that aim to retain workers across various economic sectors and create new jobs. According to OFID’s statement, the Fund ...

ABU DHABI / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted 321,610 additional Covid-19 tests over the past 24 hours, using state-of-the-art medical testing equipment.In a statement, the Ministry stressed its aim to continue expanding the scope of testing nationwide to facilitate the early detection of coronavirus cases and carry out the necessary treatment. As partof ...