News

Bloomberg Reliance Industries Ltd. is closing in on a deal that would see it acquire stakes in some units of Future Group, people familiar with the matter said, a move that would bolster the e-commerce ambitions of the conglomerate and its billionaire Chairman Mukesh Ambani. An agreement between Ambani’s Reliance and Future, which already has a partnership with Amazon.com Inc., ...

Abu Dhabi / WAM The Abu Dhabi Investment Office (ADIO) announced that it has finalised enhancements to the Musataha agreement that will give private sector investors greater opportunities to deliver long-term projects in the emirate. According to a press release issued by ADIO, the Musataha rights enables private sector to develop land owned by government agencies and benefit from projects ...

ABU DHABI / WAM Etihad Airways will recommence flights from Abu Dhabi to Athens, Greece, effective June 24. The twice-weekly schedule will be operated on Wednesdays and Saturdays using a two-class Boeing 787-9 Dreamliner. In a statement, the airline said the flights will connect guests travelling to and from Athens with key destinations in Asia and Australia via Abu Dhabi. ...

Bloomberg The oil market showed signs of tighter supply as key gauges of its health rallied, although concerns remain over a resurgence in coronavirus cases in China and the US. Futures in London and New York gained, while Brent for August was trading above the September contract, a sign of scarcer supply in Europe’s physical market. Oil prices in the ...

ABU DHABI / WAM Upbeat sentiments triggered by the positive performance of banking and telecommunications companies for the second straight session earned the UAE capital markets around AED11 billion in market cap. At the capital’s bourse, the general index rose 1.1 percent to 4,376 pts. FAB closed at AED11.60, and ADCB at AED5.23. Etisalat was among the best performers, growing ...

ABU DHABI / WAM Dr Abdul Rahman bin Mohammad bin Nasser Al Owais, Minister of Health and Prevention, said: “The UAE, five months after the detection of the first Covid-19 case, has become an inspirational model to be followed for proactive measures and effective crisis management.” The minister’s remarks came at UAE government’s regular media briefing where he provided an ...

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, has reinforced the UAE’s commitment, under the wise leadership of the UAE President, HH Sheikh Khalifa bin Zayed Al Nahyan, in further developing downstream capabilities and supporting long-term economic growth in Ruwais. His Highness ...

ABU DHABI / WAM Dr Abdul Rahman bin Mohammad bin Nasser Al Owais, Minister of Health and Prevention, said: “The UAE, five months after the detection of the first Covid-19 case, has become an inspirational model to be followed for proactive measures and effective crisis management.” The minister’s remarks came at the UAE government’s regular media briefing where he, along ...

Abu Dhabi / WAM Sultan bin Saeed Al Mansouri, Minister of Economy, participated, on behalf of the UAE, in the extraordinary virtual meeting of the Arab Ministerial Council for Tourism, to discuss ways of coordinating joint Arab efforts to counter the negative effects of the Covid-19 pandemic on the tourism sector in the Arab region. The 22nd edition of the ...

DUBAI / WAM Union Coop has revealed that the completion rate of its commercial centre project in the Al-Bada’a area, Dubai, which costs nearly 40 million, has reached about 20 percent. The project comes from Union Coop’s endeavour to achieve one of its most important strategic goals, which is the strategic expansion and increasing its outreach to serve members of ...