News

Bloomberg German manufacturers unexpectedly saw demand decline in May, suggesting an uneven start to the country’s economic recovery. Orders fall 3.7%, worse than all estimates in a Bloomberg survey. The Economy Ministry said the slump was driven by weak export demand for cars following a steep rise the previous month. Domestic orders rise as much as 0.9%. German companies are ...

Bloomberg Labour markets in developed nations have recovered only half of the loss of employment they suffered in the pandemic, with the young and low-skilled hurt most. That’s the conclusion of a 400-page study by the Organisation for Economic Cooperation and Development (OECD), which found that about 22 million jobs disappeared by the end of 2020 in industrial nations. The ...

Abu Dhabi / WAM Masdar (Abu Dhabi Future Energy Company) has won a tender to build a $174 million utility-scale solar project in Armenia. The Armenian Government had implemented an international tender following Masdar’s initial offer of $0,0299/kWh in December 2019. After a competitive process, Masdar submitted a final price of $0,0290/kWh. The 200-megawatt (MW) plant will be located in ...

ABU DHABI / WAM Abu Dhabi Emergency, Crisis and Disasters Committee, in collaboration with Abu Dhabi Public Health Centre, has updated the home quarantine guidelines for those in contact with a positive case, to protect the health and safety of all community members. Those vaccinated must quarantine for seven days and take a PCR test on day 6. If the ...

DUBAI / WAM Dubai Aerospace Enterprise (DAE) will sell nine narrow and wide body aircraft with a total market value of approximately $500 million. The agreements to sell aircraft were signed by its leasing division DAE Capital, and sales are all expected to close in 2021, the company said on Tuesday. Firoz Tarapore, Chief Executive Officer of DAE, commented, “The ...

Abu Dhabi / WAM World Future Energy Summit, part of Abu Dhabi Sustainability Week, has signed key stakeholder agreements with the Ministry of Energy and Infrastructure, Bee’ah and EDF Renewables. The event, which provides a platform to showcase clean energy and sustainable projects, initiatives and developments for the Middle East — will be held in Abu Dhabi’s National Exhibition Centre ...

Abu Dhabi / WAM Mohammed bin Ahmed Al Bowardi, Minister of State for Defence Affairs, received on Tuesday Heidi Venamore, Australian Ambassador to the UAE, and the accompanying delegation. The meeting, which took place at the Ministry of Defense, was also attended by Matar Salim Ali Al Dhaheri, Under-Secretary of the Ministry of Defence and a number of its senior ...

ISLAMABAD / WAM Pakistan has imported $6,199.069 million worth of goods against the imports of $5,976.483 million last year from the UAE, showing an increase of 3.72 percent. The State Bank of Pakistan (SBP) in its latest figures released said, that China topped the list of countries from where Pakistan imported different products during the first eleven months of financial ...

Dubai / WAM The Dubai free zone DMCC has welcomed 1,230 new member companies in the first half of 2021, the best 6-month performance since 2013. This builds on free zone’s strong performance in 2020, during which it attracted 2,025 new businesses supported by DMCC’s relief packages offered during the global pandemic. “We have carried over the record-breaking performance of ...

Dubai / WAM Ahmed Mohamed Al Naqbi, CEO of Emirates Development Bank (EDB), on Tuesday rang Nasdaq Dubai’s market-opening bell to celebrate the listing of a $750 million bond. The listing announcement event was attended by Hamed Ali, CEO of Nasdaq Dubai and Deputy CEO of Dubai Financial Market (DFM), as well as senior executives from both sides. Al Naqbi ...