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Bloomberg The president of Opec reiterated that the oil producers’ cartel shouldn’t rush to increase output early next year and said energy demand was still fragile with the coronavirus raging across parts of the world. Algeria’s Energy Minister Abdelmajid Attar, who holds Opec’s rotating presidency, said there was no guarantee the group and its allies would raise crude production by ...

DUBAI / WAM Moro Hub, the digital arm of Dubai Electricity and Water Authority (Dewa), has announced the launch of end-to-end managed security services in the region, as a part of Dubai 10X initiative. Customers can now avail Moro Hub’s 24×7 security monitoring and threat management service that is augmented with advanced technologies hosted on Moro Hub Cloud and managed ...

Abu Dhabi / WAM The UAE will celebrate, on Wednesday, the National Day of Bahrain on December 16, with official and popular celebrations that reflect the deep relations and strategic partnership between the two countries and their peoples. The celebrations will feature many events and shows, which include lighting up country’s key landmarks with Bahraini flag, festive decorations in airports, ...

ABU DHABI / WAM The Ministry of Finance (MoF) highlighted its keenness to strengthen its cooperation with Bahrain, which is reflected by economic and statistical figures from 2019. The ministry also congratulated the Kingdom of Bahrain and its people on the occasion of the country’s 49th National Day, marked on December 16. On the occasion, the ministry told Emirates News ...

Al Ain / WAM Strata Manufacturing, the composite aero-structures manufacturing facility wholly-owned by Mubadala Investment Company, successfully delivered its first Boeing 787 Dreamliner vertical fin shipset to Boeing during an official ceremony held following the UAE’s 49th National Day. The delivery, which underpins the Al Ain-based manufacturer’s evolving industrial and engineering capability, marks the first 787 vertical fin completely assembled ...

ABU DHABI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, stressed that the UAE is preparing for the next fifty years of development by relying on the visions of its talented citizens. His Highness Sheikh Mohammed bin Rashid made this statement during the honouring ceremony of ...

Abu Dhabi / WAM The Abu Dhabi National Oil Company (Adnoc) announced on Tuesday, it will boost in-country value (ICV) to the United Arab Emirates to support post-Covid economic growth through its hugely successful ICV programme. As part of this commitment, Adnoc will drive over AED160 billion ($43.6 billion) back into the UAE economy over the next 5 years as ...

ABU DHABI / WAM The UAE has welcomed the United States’ decision to remove Sudan from the State Sponsors of Terrorism (SST) list. In a statement, the Ministry of Foreign Affairs and International Cooperation (MoFAIC) congratulated Sudan and its people on this step, which is poised to end years of political and the economic isolation endured by the country. MoFAIC ...

ABU DHABI / WAM The Ministry of Finance (MoF) on Tuesday launched the “ESR Portal” to simplify the process of submitting Economic Substance Regulations (ESR)’s reports and notifications. The portal aims to simplify procedures for all companies operating in the country and allows them to submit reports, notifications and supporting documents electronically and in a timely manner. Younis Haji Al ...

ABU DHABI / Emirates Business Shareholders of National Marine Dredging Company PJSC (NMDC), voted at the Company’s General Assembly Meeting to approve the recommended offer from General Holding Corporation PJSC (Senaat), which is part of ADQ, and other minority shareholders of National Petroleum Construction Company PJSC (NPCC) (together, the “NPCC Shareholders”), to combine NPCC with NMDC. NPCC is a world-class ...