News

Bloomberg Oil rises further after the biggest gain since May on growing optimism for more US fiscal stimulus and as President Donald Trump left hospital following treatment for Covid-19. Futures added 1.2%, following Monday’s surge above $39 a barrel. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin will resume talks on another round of pandemic relief funding, but there’s ...

DUBAI / WAM Hesham Abdulla Al Qassim, Chairman of Emirates Islamic and Vice Chairman and Managing Director of Emirates NBD Group, rang the market-opening bell on Tuesday to celebrate the listing by Emirates Islamic of a $500 million sukuk on Nasdaq Dubai. The bank achieved a profit rate of 1.827%, the lowest for a sukuk issued by a UAE bank ...

Berlin / WAM HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, visited the Memorial to the Murdered Jews of Europe, known as the “Holocaust Memorial,” and its museum in Berlin, accompanied by Gabi Ashkenazi, Israeli Minister of Foreign Affairs. HH Sheikh Abdullah and Ashkenazi were accompanied by Heiko Maas, German Minister of Foreign Affairs. ...

ABU DHABI / WAM In 2019, the UAE’s real estate sector achieved six positive indicators despite economic slowdown in the Gulf Cooperation Council (GCC) and the Middle East, highlighted by a surge in asset revenues, ownership rights revenues and profits in various indicators monitored by the central bank of the UAE (CBUAE). The companies, Emaar and Aldar, dominate the real ...

ABU DHABI / WAM Auto loans declined by 7.6 percent while property financing increased 2.9 percent during 2019, according to the statistics of the central bank of the United Arab Emirates. The apex bank’s figures indicated a drop of 2.3 percent in retail loans allocated to households in a sign reflective of an increased tendency towards spend optimisation among individuals. ...

Abu Dhabi / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted 102,379 additional Covid-19 tests over the past 24 hours, using state-of-the-art medical testing equipment. In a statement, the ministry stressed its aim to continue expanding the scope of testing nationwide to facilitate the early detection of coronavirus cases and carry out the necessary treatment. As ...

Fujairah / WAM The Fujairah Charitable Society sent 200 tonnes of food and clothing to Sudan, as part of UAE’s humanitarian aid bridge provided by UAE to Sudanese people following the floods that hit the country. The aid was delivered with the support and directives of HH Sheikh Hamad bin Mohammed Al Sharqi, Supreme Council Member and Ruler of Fujairah. ...

DUBAI / WAM Switzerland reaffirms its commitment to the success of the Expo 2020 Dubai, which will run from October 1, 2021 to March 31, 2022, and marks one year to go to the upcoming World Expo. On this occasion, the Swiss Pavilion took part in the first Pre-Expo event October, which was dedicated to space. The Expo offers a ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Monday received a telephone call from Prince Albert II of Monaco. During the call, His Highness Sheikh Mohamed and Prince Albert discussed ways of boosting bilateral ties and cooperation relations between the two ...

Bloomberg Business activity in the Arab world’s three largest economies returned to growth, with Egypt seeing its first expansion in 14 months. After a deterioration in August, the non-oil private sectors improved last month as companies adjusted to economic challenges of the global pandemic while governments eased restrictions put in place to stop the coronavirus. A measure of non-oil private ...