News

Abu Dhabi / WAM Statistics Centre – Abu Dhabi (Scad) and the Abu Dhabi Investment Office (ADIO) on Sunday signed a Service-Level Agreement (SLA) to cooperate on exchanging data, promoting statistical collaboration, and building foundations for joint action. The partnership is aimed at achieving integration and supporting Abu Dhabi Government’s pursuits to build a comprehensive and sustainable statistical system that ...

NEW YORK / ABU DHABI / WAM Reem bint Ibrahim Al Hashemy, Minister of State for International Cooperation, and Omar Ghobash, Assistant Minister for Public and Cultural Diplomacy, have met virtually with members of the Group of Latin American and Caribbean Countries (Grulac) at the United Nations, to introduce the UAE candidacy for a non-permanent seat on the UN Security ...

Bloomberg Chinese food-delivery giant Meituan is working to address regulators’ concerns about its business, changing practices that sparked an antitrust probe while promising better treatment for its millions of drivers and restaurants. The Beijing-based company has set up a dedicated team to work with officials conducting the investigation and vowed strict compliance with new guidelines. It’s also providing insurance for ...

Bloomberg JD Logistics Inc rose as much as 18% on its first day of trading after raising $3.2 billion in Hong Kong’s second-largest initial public offering this year. Shares of the delivery arm of Chinese e-commerce giant JD.com climbed to as high as HK$47.75 in Hong Kong, before giving up some of their gains. The stock had been priced at ...

Bloomberg The cost to move goods in a shipping container to Europe from Asia shot above $10,000 for the first time on record, an index showed, underscoring the pain inflicted on exporters and importers struggling with stretched supply chains. The Drewry World Container Index showed the rate for a 40-foot container from Shanghai to Rotterdam rose to $10,174, up 3.1% ...

ABU DHABI / WAM The UAE has obtained support from member states of the World Tourism Organisation (UNWTO) Regional Commission for the Middle East for its candidature for the organisation’s Executive Council for the first time. The voting process to ratify candidacy will take place during the UNWTO General Assembly meeting in Morocco next October. The UAE submitted its nomination ...

Bloomberg President Joe Biden’s proposed tax hikes are forecast to bring in $3.6 trillion over the next decade, the Treasury Department said, a key funding source for the $4 trillion he hopes to spend remaking the American economy and social safety net. The figure, representing the sum of all tax increases if enacted by Congress, came as is part of ...

Sharjah / WAM Under the directives of HH Sheikha Jawaher bint Mohammed Al Qasimi, wife of HH the Ruler of Sharjah, Chairperson of The Big Heart Foundation (TBHF) and Eminent Advocate for Refugee Children at the United Nations High Commissioner for Refugees (UNHCR), TBHF has mobilised $1 million to fulfill critical medical and psychological needs of children severely affected by ...

Bloomberg Oil posted its biggest weekly gain since the middle of April ahead of the US Memorial Day weekend that kicks off country’s summer driving season. West Texas Intermediate rises 4.3% this week. A spate of positive US economic data this week continued to highlight the recovery taking shape in the world’s largest oil-consuming country, while Americans are expected to ...

Dubai / WAM Ongoing field inspections by Dubai Economy across open markets and commercial establishments saw 26 fines being issued for violation of precautionary guidelines against Covid-19. The violations, detected in outlets spread across markets and malls, were mostly related to face masks or physical distancing. Increased visitors numbers across malls during the recent 3-day super sale had seen a ...