News

Bloomberg Oil slumped in New York as the Federal Reserve forecast a long road to recovery for the US economy and American crude inventories rose to a record. Futures lost 3.5% to trade near $38 a barrel. Fed Chairman Jerome Powell said the pandemic could inflict long-lasting damage on the economy and signaled it would keep rates near zero possibly ...

DUBAI / WAM DP World has announced the completion of its acquisition of a 51 percent stake in TIS Container Terminal in the Port of Yuzhny, Ukraine. This follows satisfaction of specific conditions including confirmation of regulatory approval from the relevant government authorities. This project will be DP World’s second partnership with TIS shareholders, the first being our very successful ...

DUBAI / WAM Dubai property developer Nakheel announced the increase in demand for villas, with sales worth AED223 million in the last three months, as buyers look for more indoor and outdoor living space to adapt to the ‘new normal’. According to a press release issued by the company on Thursday, Nakheel has sold 70 villas with a sales value ...

Dubai / WAM DP World has announced the completion of its acquisition of a 51 percent stake in TIS Container Terminal in the Port of Yuzhny, Ukraine. This follows satisfaction of specific conditions including confirmation of regulatory approval from the relevant government authorities. This project will be DP World’s second partnership with TIS shareholders, the first being our very successful ...

ABU DHABI / WAM A coordination meeting to develop future plans and explore community development was held, which discussed opportunities for improvement and the strengths and weaknesses of services provided by the Unified Family Counselling Portal. HH Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union (GWU), President of the Supreme Council for Motherhood and Childhood, and Supreme Chairwoman ...

DUBAI / WAM Emirates plans to operate four flights between Dubai and Cairo on June 14, 18, 19 and 21. Customers can also connect to these flights in Dubai from any destination on Emirates’ current network of 30 destinations in the GCC, Asia Pacific, Europe and the Americas. In a statement by the airline on Thursday, flights can be booked ...

AJMAN / WAM Ajman’s Department of Economic Development has seized counterfeit engine oil valued at AED20 million after an investigation revealed they were being marketed under international brand names in a factory in Ajman’s Industrial Area. Some 100,000 containers were confiscated by the Control and Consumer Protection Department, and the factory was immediately fined and closed, Ajman DED said in ...

DUBAI / WAM The Dubai Chamber of Commerce and Industry has announced that it recently kicked off a webinar series providing African business leaders and entrepreneurs with useful information about doing business in Dubai, and promoting Dubai as an ideal hub for African companies. The Benefits of Doing Business in Dubai series was organised by the Chamber’s representative offices in ...

Abu Dhabi / WAM Etihad Airways and Aldar Properties have entered into a historic partnership that brings benefits to UAE-based Etihad Guest members and shoppers in the UAE capital, Abu Dhabi. Through this exclusive agreement Etihad Guest members can now earn and spend their Etihad Guest Miles on purchases made with their Visa cards at three malls within Aldar’s retail ...

Dubai / WAM Dubai property developer Nakheel has announced the increase in demand for villas, with sales worth AED223 million in the last three months, as buyers look for more indoor and outdoor living space to adapt to the ‘new normal’. According to a press release issued by the company on Thursday, Nakheel has sold 70 villas with a sales ...