News

Bloomberg Oil slipped after touching $70 a barrel in New York for the first time since October 2018 as a rally driven by signs of a tightening market eased. Futures jumped 5% last week but were unable to rise beyond $70 on Monday. Europe’s cities are as congested as they were in 2019, and the number of passengers passing through ...

Bloomberg Saudi Aramco, the world’s biggest energy company, hired advisers including Citigroup Inc and Goldman Sachs Group Inc for its first dollar-denominated Islamic bond sale. The state-controlled company may offer three tranches of notes due in three, five and 10 years, according to a person familiar with the matter. The firm is raising cash to help fund its commitment to ...

ABU DHABI / WAM The UAE, through its humanitarian arm, the Emirates Red Crescent (ERC), sent on Monday 960 tonnes of urgent medical and food items to alleviate the humanitarian repercussions for about 20,000 families in the Gaza Strip. Implementing the directives of the Emirati leadership, the UAE sent 33 shipments through the Rafah Border Crossing, as part of the ...

ABU DHABI / WAM Five organisations that specialise in gauging global competitiveness have ranked the UAE among the top 20 countries 2020 across 13 indexes related to transport, adding to the country’s track record in this sector. The UAE has been making tireless efforts to drive its sustainable development while also preserving the environment. The UAE Vision 2021 comprises guidelines ...

DUBAI / WAM Boksha, an Emirati-founded tech startup, has secured $1 million from a group of investors, which includes Sandooq Al Watan and family offices. Founded in 2018, the platform is the largest online marketplace for independent fashion designers in the region offering Khaleeji themes. This is the company’s first raise; it has bootstrapped itself since then to offering over ...

SHARJAH / WAM Air Arabia has announced the introduction of a new service to Phuket, Thailand, with direct flights from Sharjah International Airport starting on July 02. Air Arabia is the first low-cost carrier in the region to launch a direct route to Phuket. The Tourism Authority of Thailand has confirmed that travellers who have been vaccinated against Covid-19 from ...

Abu Dhabi / WAM S&P Global Ratings has assigned ‘AA-‘ long-term issuer credit rating with stable outlook to Emirates Development Bank (EDB), a key financial enabler of the country’s economic diversification and industrial transformation agenda. The bank has also been assigned a ‘gcAAA’ long-term GCC regional scale rating by S&P Global Ratings, said a statement issued by EDB on Monday. ...

SHARJAH / WAM The Sharjah Chamber of Commerce and Industry (SCCI) welcomed Lars Pera, Ambassador of Guatemala to the UAE, and Jose Bassila, Commercial Counsellor at the Embassy of Guatemala, to discuss means to boost bilateral ties and stimulate investments in food security, waste management and natural tourism fields, among others. The two sides agreed to organise a coordination meeting ...

Abu Dhabi / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted 208,090 additional Covid-19 tests over the past 24 hours, using state-of-the-art medical testing equipment. In a statement on Monday, 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 ...

Abu Dhabi / WAM First Abu Dhabi Bank (FAB) announced the signing of an agreement with the Mohammed bin Rashid Housing Establishment (MBRHE) to provide flexible financing options for UAE nationals seeking suitable family housing. The agreement comes as part of the ‘Al Yusr’ programme, one of the housing establishment’s initiatives aimed at providing the best financing options for nationals ...