News

Bloomberg Oil rises as broader markets rallied and Opec+ inched closer to delaying a planned easing of output cuts. Futures in New York traded near $38 a barrel after climbing 3.3%, extending gains from the previous session. Equities strengthened ahead of the US election, while the dollar lost 0.5%, adding to positive sentiment in crude. Russian oil companies met Energy ...

Abu Dhabi / WAM In an effort to ensure that stored value products and services are operated in a secure, sound and efficient manner in the UAE, the central bank of the UAE (CBUAE) issued a new regulation on Stored Value Facilities (SVF). By introducing this new regulation for the providers of SVFs, the CBUAE aims to facilitate fintech firms ...

Abu Dhabi / WAM The Ministry of Finance (MoF) organised two virtual workshops titled The Frameworks of implementing legislation governing Multinational Groups of Entities (MNEs) reports. The workshops sought to identify the main points around implementing the UAE’s cabinet resolution no. 44 of 2020, which covers legislation governing MNEs reports, and clarifies the private sector’s responsibilities in this area. That, ...

DUBAi / WAM The Sharjah Book Authority (SBA) is opening both physical and virtual doors of the 39th Sharjah International Book Fair (SIBF 2020) on Wednesday to its global audiences, as the fair assumes a unique hybrid online-offline format this year in line with the UAE government’s efforts to contain the spread of the novel coronavirus (Covid-19). Organised by the ...

Abu Dhabi / WAM Upon the directives of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and the monitoring of His Highness Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region and Chairman of the Emirates Red Crescent (ERC) the UAE allocated AED35 ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has dedicated the celebrations of the Flag Day to the heroes at the forefront of the nation’s fight against Covid-19. His Highness hoisted the UAE flag at the Mohammed bin Rashid University of Medicine and Health Sciences. The ...

Ajman / WAM His Highness Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman, has said that the UAE flag reflects the concepts of unity and adherence to the Union’s values established by the Founding Fathers, as well as the community coherence, reinforcing patriotism and strengthening the country’s pioneering position and prominent image. He made this ...

DUBAi / WAM Dubai Investments on Tuesday reported a 102% surge in the third quarter net profit to AED213 million, compared to AED105 million in corresponding period last year. The net profit for nine-month period ending on September 30 was AED418 million. The total revenue during nine-month period was AED1.90 billion while the total assets increased to AED21.5 billion as ...

Dubai / WAM The UAE Space Agency and Mohammed Bin Rashid Space Centre announced the kick-off of ‘Generation Hope’ initiative under the Emirates Mars Mission (EMM) – Hope Probe, the first interplanetary mission undertaken by an Arab nation, that comes as part of its education and outreach efforts. Held between November 2020 until January 2021, it provides an avenue for ...

Bloomberg Oil kicked off what promises to be a turbulent week of trading by plunging to a five-month low as a continued increase in Libyan crude production coincided with a wave of new virus-lockdown measures in Europe. The double whammy of falling demand and growing supply pushed futures in New York down as much as 6% in Asian trading. That ...