News

Bloomberg Twitter Inc. shares fall 6.1% in pre-market trading after the social media platform permanently banned outgoing President Donald Trump. The San Francisco-based company confirmed its decision in a blog post, saying Trump’s tweets breached policies by risking incitement to violence. It cited Trump’s posts referring to riots in the US capital last week. Mirabaud analyst Neil Campling said the ...

Bloomberg Despite the pandemic-induced recession of 2020, America’s young adults doubled their assets over the past four years, new data from the Federal Reserve show. This marks the first time the assets for so-called millennials have exceeded $10 trillion. But, this generation, the oldest of whom turn 40 this year, has a massive debt burden as well, according to the ...

DUBAI / WAM Shuaa Capital on Sunday announced that it has successfully completed a debt buyout of Stanford Marine Group’s (SMG) AED1.13 billion ($308 million) facility, resulting in a successful outcome for all parties involved, including the participating banks. SMG is one of the most prominent and diversified offshore services companies in the Middle East, with a focus on chartering, ...

Abu Dhabi / WAM HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Presidential Affairs and Vice Chairman of the Board of Directors of the Mubadala Investment Company, has chaired the meeting of the Executive Committee of the company’s board, which was held at the Al Watan Palace in Abu Dhabi. The Board approved the company’s action ...

Abu Dhabi / WAM Obaid Humaid Al Tayer, Minister of State for Financial Affairs, met with the US Treasury Secretary Steven Mnuchin in Abu Dhabi. Younis Haji Al Khoori, Undersecretary of the Ministry of Finance, as well as representatives of the UAE Central Bank attended the meeting which sought to deliberate joint strategic relations and financial and economic cooperation between ...

ABU DHABI / WAM Kim Young-ju, Chairman of the Korea International Trade Association (KITA), stated that the UAE and South Korea have had solid bilateral relations since the start of their diplomatic ties in 980s, adding that the two friendly countries established a strategic partnership in 2018 during the official visit of Moon Jae-in, President of South Korea, to the ...

DUBAI / WAM Dubai South announced that its Business Park succeeded in attracting 650 new companies as well as leasing of 945,488 square feet of space in 2020 despite the challenging times. In light of the impact of Covid-19 on the business landscape last year, Dubai South realigned its offerings and rolled out an array of stimulus packages to support ...

ABU DHABI / WAM Emirates Global Aluminium (EGA) has awarded an AED150,000 grant to three proposals put forth by Abu Dhabi University (ADU) Electrical, Computer, and Mechanical Engineering students. The grant will support the winning proposals to build drones and robots powered by artificial intelligence (AI), in preparation for EGA’s third edition of the AI Robot competition, according to the ...

Abu Dhabi / WAM In line with the plan of the Ministry of Health and Prevention (MoHAP) to provide the coronavirus (Covid-19) vaccine to all residents and help them acquire the required immunity, reduce the rate of infection, and contain the spread of the virus, the ministry on Sunday announced that it has bypassed the milestone of one million doses ...

Sharjah / WAM HH Sheikha Jawaher bint Mohammed Al Qasimi, wife of the Ruler of Sharjah and Chairperson of the Supreme Council for Family Affairs (SCFA), reiterated the contributions of the Holy Quran to the development of human civilisation for thousands of years while affirming that its teachings have paved the way for key milestones and human achievements in the ...