News

Bloomberg Oil dropped to trade near $40 a barrel before US government data that’s forecast to show gasoline stockpiles increased, while rising virus infections raised concern stricter controls will be extended. US gasoline supplies expanded by one million barrels last week, according to a Bloomberg survey, while nationwide crude stockpiles are projected to have fallen for a second week. Official ...

Bloomberg Hotter temperatures by 2100 could slash global GDP by more than 20%, according to new research, and the way the economic impact will be distributed threatens to turn climate change into an enormous driver of worldwide inequality. A new analysis of the relationship between heat and economic performance released this week by Oxford Economics, a global forecasting firm, identified ...

Abu Dhabi / WAM Dubai Exports announced they will co-host the UAE’s major virtual international buyers forum in partnership with Abu Dhabi Exports Office (Adex), and Etihad Credit Insurance (ECI) in a unified effort to boost the emirate’s export economy and increase foreign business to drive economic recovery for Dubai businesses. The announcement of the forum – which will be ...

Dubai / Emirates Business dnata, one of the world’s largest air services providers, has donated three pieces of cargo handling equipment to Dubai-based International Humanitarian City (IHC), the largest humanitarian hub in the world, to support the organisation in facilitating rapid relief and first responses to crises, including the Covid-19 pandemic, at a global level. dnata has donated a cargo ...

ABU DHABI / WAM Agthia Group on Tuesday announced the appointment of Alan Smith as its new Chief Executive Officer (CEO). Alan succeeds Jamal Salem Al Dhaheri, Acting CEO of Agthia Group, who was appointed in March 2020 by the company’s Board of Directors for a transition period. Agthia is a leading Abu Dhabi-based food and beverage company listed on ...

Abu Dhabi / WAM The UAE Government will complete more than two million Covid-19 tests during the next two months to continue to curb the spread of the virus. The announcement was made at the UAE Government’s regular media briefing wherein Dr Amna Al Dahak Al Shamsi, official spokesperson of the UAE Government, provided an update on Covid-19 and all ...

Abu Dhabi / WAM The Abu Dhabi Judicial Department (ADJD) organised a remote training workshop for lawyers on the “novelty in the bankruptcy and restructuring system in the light of Emirati and American legislations”. This was through the training platform of the Abu Dhabi Judicial Academy, with the participation of 120 lawyers registered with the department, in addition to a ...

ABU DHABI / WAM Etihad Airways is gradually resuming services to more destinations across its global network. This follows the easing of travel restrictions by UAE regulatory authorities on outbound and inbound travel for citizens and residents. All travel remains subject to the entry and health regulations set by the UAE authorities, and those at the end destination. Throughout July ...

Bloomberg In Indonesia, locals can soon fly from Jakarta to the beaches of Bali for a domestic vacation. Tokyo residents can escape the pandemic stress with a hike in the mountains, and New Yorkers can head to the Hamptons on Long Island. Residents of Singapore, a city-state smaller than New York City, have few such options, presenting a massive problem ...

Bloomberg Traveloka, Southeast Asia’s biggest online travel startup, is close to raising fresh funds at a private-market valuation of about $2.75 billion — roughly 17% less than its most recent fundraising, according to people familiar with the matter. The Jakarta-based firm is in advanced negotiations with new strategic investors such as Siam Commercial Bank Pcl and Richard Li’s FWD Group ...