News

Bloomberg Brazil, the world’s biggest exporter of coffee, sugar and orange juice, just had a rainy season that brought hardly any rain. Soils are parched and river levels are low in the nation’s Center-South region, a powerhouse of agricultural output. The drought is so severe that farmers are worried they’ll run out of the water reserves that help keep crops ...

Bloomberg Euro-area businesses shed jobs at the start of the year after strict lockdowns pushed the economy into a double-dip recession. Employment in the 19-nation region falls by 0.3% in the first quarter after two consecutive gains. The economy shrinks 0.6% in the same period, matching an initial estimate. Since then, the outlook for the euro zone has improved. Coronavirus ...

Bloomberg Oil drifted lower as a demand recovery in key regions raised optimism about rising fuel consumption, despite a Covid-19 flare-up in parts of Asia. Futures in New York slipped near $65 a barrel while Brent fell towards $68 in London as the dollar nudged higher. Chinese refiners have churned through record volumes of crude so far this year, but ...

ABU DHABI / WAM Etihad Rail, the developer and operator of the UAE’s national railway network, has signed an agreement with Transportr, a leading company in digital freight services. Through the cooperation, Etihad Rail and Transportr will work together to streamline services in the logistics sector through digital solutions, such as booking, tracking, and multi-modal connectivity, providing a complete digital ...

Abu Dhabi / WAM The Abu Dhabi National Energy Company PJSC (TAQA) will host the World Utilities Congress, a new global exhibition addressing the future of low carbon power and water supplies, at the Abu Dhabi National Exhibition Centre (Adnec) from May 9-11, 2022. Organised by dmg events, the in-person event is supported by the UAE’s Ministry of Energy & ...

ABU DHABI / WAM Abu Dhabi Exports Office (ADEX), the export-financing arm of Abu Dhabi Fund for Development (ADFD), has signed a $30 million (AED110.19 million) line-of-credit agreement with the Eastern and Southern African Trade and Development Bank (TDB) to bolster trade between the UAE and the Bank’s Member States. The first of its kind to be signed by ADEX ...

DUBAI / WAM Suhail Al Mazrouei, Minister of Energy and Infrastructure, has reiterated the UAE’s commitment to reduce carbon dioxide emissions by 70 percent and increase clean energy use by 50 percent by 2050 during the inaugural Middle East Energy virtual event. “Today, renewables alongside new technologies and services are transforming the business of supplying and delivering power. For this ...

DUBAI/ WAM Emirates and flydubai airlines will have a combined network of 168 destinations by the end of May, offering more convenience, choice and connectivity for travellers across their combined network. Since the revival of the airlines’ codeshare partnership in September 2020, close to 500,000 passengers have flown on combined network. Top destinations booked through the codeshare include Kabul, Kathmandu, ...

ABU DHABI / WAM Reem bint Ebrahim Al Hashimy, Minister of State for International Cooperation, took part in the extraordinary meeting of the Organisation of the Islamic Cooperation Executive Committee at the level of Foreign Ministers, which was held upon the request of the Kingdom of Saudi Arabia to discuss the recent violence in occupied East Jerusalem and the Holy ...

Dubai / WAM Dubai’s Supreme Committee of Crisis and Disaster Management on Monday announced updated precautionary measures for events and activities, effective from May 17. According to the revised measures, live entertainment and activities are allowed to be held in restaurants, cafes and shopping malls for a trial period of one month (extendable) starting May 17 on the condition that ...