News

Bloomberg Crude clung to losses amid a combination of weak economic data and signals that a recovery in consumption may be slowing. Futures posted a 0.4% decline in New York. Although strength in US equities pushed oil up from the lows of the session, futures were unable to rally amid a flurry of disappointing data points. In the US, consumer ...

Bloomberg European Union (EU) leaders meeting in Brussels for a second day are closing in on a deal for a 750 billion-euro ($860 billion) stimulus package after the Dutch government indicated support for the direction of the negotiations. A new proposal unveiled on Saturday, which would keep the overall size of the fund the same but reduce the amount distributed ...

Bloomberg World Bank President David Malpass called on Group of 20 leading economies to extend the current suspension of debt repayments by the poorest countries through the end of 2021 and broaden the scope to deal with the global pandemic. The virus and worldwide recession will lead to rising poverty in impoverished nations and debt burdens for some countries are ...

Dubai / WAM Bilateral trade between the UAE and China will continue to surge in the coming years due to the strong trade relations and people-to-people synergies between the two countries as they transition to the digital economy. High-level panelists at the first China-UAE Economic and Trade Digital Expo, hosted by the UAE’s Ministry of Economy and China Council for ...

SHARJAH / WAM Sharjah Electricity and Water Authority (Sewa) joined the membership of the International Organisation for Electrical Energy Systems (Sigri) which was founded in 1921 in the French capital Paris, and is concerned with energy affairs of production, transport and distribution, aiming to improve the future of networks. The membership will contribute to enhancing participation and knowledge exchange among ...

Abu Dhabi / WAM The UAE leaders reviewed the Hope probe’s pre-flight preparations days before its historic launch to Mars from Japan’s Tanegashima Space Center in the first ever Arab interplanetary mission. Through a video meeting, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, His Highness Sheikh Mohamed ...

ABU DHABI / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, reviewed with Sergey Lavrov, Minister of Foreign Affairs of the Russian Federation, the strategic relations between the two friendly countries and prospects of propelling cooperation across various fields. This came over a phone call between the two top diplomats, wherein they ...

Dubai / WAM Younis Haji Al Khoori, Undersecretary of the Ministry of Finance (MoF) participated on Saturday in the fourth meeting of the Group of Twenty (G20) Finance and Central Banks’ Deputies which was held remotely on July 16 and 17. The meeting discussed the third G20 Finance Track Communiqué which reflects the group’s commitment to bring the financial response ...

Abu Dhabi / WAM The Abu Dhabi National Oil Company (Adnoc), announced on Saturuday an exciting initiative to enhance Science, Technology, Engineering, and Mathematics (STEM) education among kids in the UAE. The initiative, called “STEM@Home”, enables children to remotely access STEM resources and learn new skills through engaging science-based challenges. Adnoc embarked on the initiative to promote STEM education online ...

SHARJAH / WAM “The outbreak of Covid-19 and the consequent supply chain disruptions in food imports has served as a wake-up call for countries largely reliant on food imports, and is driving a renewed interest in increasing self-sufficiency through the deployment of modern farm tech solutions to boost locally grown produce,” said Mohamed Al Musharrkh, CEO of Sharjah FDI Office ...