Bloomberg Oil fell in New York after an industry report signalled another increase in US crude stockpiles, while the spread of the coronavirus continued to cloud prospects for an economic recovery. Futures dropped 1.6%, extending the decline after settling at the highest since early March on Monday. The American Petroleum Institute reported that inventories rose by 1.75 million barrels last ...
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DUBAI / WAM Nasdaq Dubai on Wednesday welcomed the listing of a $500 million sukuk by Sharjah Islamic Bank (SIB). The capital raised will support SIB’s activities and strategic development to cater to its customers in corporate, investment and retail banking. In a statement on Wednesday, Nasdaq Dubai said that the five-year sukuk was subscribed 7.2 times by regional and ...
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Abu Dhabi / WAM Hub71 has collaborated with two leading banks, Mashreq Bank and First Abu Dhabi Bank, to help identify and solve the pain points faced by startups. This follows the launch of Hub71’s whitepaper which explored the challenges that startups face when opening a UAE bank account. The whitepaper, titled: Rethinking Banking for Startups aims to foster collaboration ...
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Abu Dhabi / WAM Thuraya, the mobile satellite services subsidiary of the UAE’s Al Yah Satellite Communications Company (Yahsat) has announced the signing of a partnership agreement with Telespazio, a joint venture between Leonardo (67 percent) and Thales (33 percent), to distribute its products and services worldwide. Telespazio customers in critical sectors such as government, maritime, energy and relief can ...
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ABU DHABI / WAM First Abu Dhabi Bank (FAB) launched FAB eSign, a new portal that provides a secure, safe and legally valid way for clients to sign documents digitally. Initially available to clients of FAB’s Global Transaction Banking (GTB) division, FAB eSign allows authorised signers to digitally sign documents anywhere and anytime, the bank said in a statement on ...
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New York / WAM The UAE reiterated its continued commitment to upholding the rights of children around the world and to the architecture established by the UN Security Council on children and armed conflict. In a written statement submitted to the UN Security Council for its annual open debate on children and armed conflict, the UAE stated, “The Covid-19 pandemic ...
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Abu Dhabi / WAM The UAE on Wednesday sent an aid plane carrying 7 metric tons of medical supplies to Jubaland, Somalia to bolster the country’s efforts to curb the spread of Covid-19. This aid will assist approximately 7,000 medical professionals as they work to contain the virus. Commenting on the aid delivery, Mohammed Ahmed Othman Al Hammadi, UAE Ambassador ...
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DUBAI / WAM Dubai Chamber of Commerce and Industry has launched its Business Mentoring and Support (BMS) Programme – a CSR initiative designed to help small and medium-sized enterprises (SMEs) in Dubai steer new challenges posed by the Covid-19 pandemic. The programme will see SMEs in Dubai paired with large companies offering professional advice and resources tailored to unique needs, ...
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Fujairah / WAM Inventories of oil products at the UAE’s East Coast port of Fujairah have climbed for the first time in three weeks, led by gains in gasoline and other light distillates. Total stockpiles were up 0.3 per cent on the week to 30.218 million barrels as of June 22, after setting a record high of 30.71 million barrels ...
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ABU DHABI / WAM Khalifa Fund for Enterprise Development and the social media company Facebook have announced the relaunch of “She Means Business”, an entrepreneurial education programme for women. The programme will support and train 1,300 women entrepreneurs through a series of virtual training sessions, with the overarching aim of equipping participants with a versatile range of skills that will ...
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