News

ABU DHABI / WAM Barings, one of the world’s leading financial services firms, on Tuesday announced that it has formed the Barings Mubadala Enterprise (BME) – an evergreen origination platform seeking to provide financing solutions to European middle-market businesses. BME and its capital partners aim to provide $3.5 billion in financing over the next 18 months to help meet growing ...

DUBAI / WAM Ahmed Mahboob Musabih, Director-General of Dubai Customs said the non-oil trade between Dubai and Saudi Arabia amounted to AED500 billion in the last ten years (2010-2020), which makes the kingdom Dubai’s biggest Arab trade partner and fifth globally. The great economic relationship that Saudi has with the UAE reflects the strong ties between the two states, and ...

Abu Dhabi / WAM The UAE will join Saudi Arabia in celebrating the kingdom’s 90th National Day on September 23. The UAE’s official and public participation in this year’s celebration, held under the slogan, “Together Forever”, confirms the deep ties between the two countries. Throughout history, the relations between the two countries have guaranteed the security of GCC and Arab ...

Abu Dhabi / WAM Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, chaired Tuesday’s virtual meeting of the Industrial Coordination Council with the participation of Sarah bint Yousif Al Amiri, Minister of State for Advanced Technology, and members of the Council. The meeting included discussions on how to empower the industrial sector, strengthen the UAE’s competitive ...

Bloomberg Oil edged higher, recovering from its biggest loss in almost two weeks even as a resurgent coronavirus looms over the demand outlook. Futures in London were up 1.3% near $42 a barrel, snapping a sharp decline from Monday alongside the European markets. Brent also recovered from technical support, moving away from their 100-day moving average on Tuesday. That’s despite ...

Abu Dhabi / WAM Nawah Energy Company (Nawah) the Joint Venture nuclear operations and maintenance subsidiary of the Emirates Nuclear Energy Corporation (Enec), and Korea Electric Power Corporation (Kepco), announced on Tuesday that the reactor of Unit 1 of the Barakah Nuclear Energy Plant has achieved 50% of its electricity production capacity. The milestone achievement was announced on the sidelines ...

Sharjah / WAM His Highness Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, has sent a congratulatory message to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud of Saudi Arabia, on the occasion of the Kingdom’s 90th National Day. The Sharjah Ruler has also dispatched a similar congratulatory message ...

Abu Dhabi / WAM Mubadala Investment Company (Mubadala) an Abu Dhabi-based sovereign investor, and Sberbank, the largest bank of Eastern and Central Europe, on Tuesday signed a strategic agreement to explore opportunities of mutual benefits. The agreement covers cooperation in multiple areas, including co-investments, debt and equity financing, long-term financing of Mubadala projects in Russia and other territories, advisory services, ...

ABU DHABI / WAM The first CNN Academy in the world opened its doors for applications on Tuesday for journalists of the future to learn about multiplatform storytelling. Starting January 2021, the intensive learning programme will offer a full-time five-week course with a combination of online learning sessions and in-person workshops that will take place at CNN at twofour54. Over ...

ABU DHABI / WAM The construction of the US pavilion at Expo 2020 Dubai will be completed in November, John Rakolta, the US Ambassador to the UAE, said on Tuesday. “The construction of the pavilion is progressing according to our schedule. We look forward to substantial buildings’ completion sometime around November 15,” he said during a virtual media roundtable with ...