News

ABU DHABI / WAM The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) announced on Thursday that a selected number of museums and cultural sites in the emirate are ready to welcoming visitors starting June 24. Strict health and safety guidelines and precautionary measures were implemented in the selected sites to support community recovery after the long ...

DUBAI / WAM The General Authority for Regulating the Telecommunications Sector (TRA) has signed a sponsorship agreement with the International Telecommunication Union (ITU) for the Multilingual Interactive Remote Participation (MIRP) platform, which ensures that the ITU members can participate in remote meetings using any of its six official languages. This sponsorship is a contribution from UAE in maintaining continued ITU ...

DUBAI / WAM Mercuria Energy Group, the Swiss international commodity trading company, has renewed the lease on their Middle East headquarters at DMCC for another five years. DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – has been home to Mercuria Energy Group for over 11 years, and acts as the ...

Bloomberg Chevron Corp will start a sales process for its interest in the North West Shelf project in Australia, one of the nation’s first liquefied natural gas export ventures, after receiving a number of approaches from potential buyers. The US energy major has been looking to make cutbacks as the industry grapples with a once-in-a-generation collapse in demand because of ...

Bloomberg Sasol Ltd is reining in oil expansion and considering job cuts as part of ongoing efforts to turn the business around and protect itself from market downturns. The overhaul at the South African company follows a 50% slump in its shares this year as oil’s crash strained finances already pummeled by cost overruns at a giant US chemicals project. ...

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, reviewed the prospects of cooperation between the UAE and the European Union (EU) in a call with Ursula Gertrud von der Leyen, President of the European Commission. The conversation covered the global fight against ...

Bloomberg The Organisation of Petroleum Exporting Countries (Opec) predicted that fuel demand will remain “under pressure” during the second half of this year because of the ongoing economic fallout from the coronavirus, a day before ministers were due to assess world markets. While there will be a “gradual recovery” in the global economy, it won’t compensate for the slump during ...

RIYADH / WAM Aramco on Wednesday announced the successful completion of its share acquisition of a 70 percent stake in Saudi Basic Industries Corporation (Sabic), from the Public Investment Fund (PIF) the sovereign wealth fund of Saudi Arabia, for a total purchase price of SAR 259.125 billion ($69.1 billion), equating to SAR 123.39 price per share. The completion of the ...

Abu Dhabi / WAM The central bank of the UAE announced Money Supply aggregate M1 increased by 0.7%, from AED560.3 billion at end of April to AED564.3 billion at the end of May. The Money Supply aggregate M2 decreased by 0.9%, from AED 1464.8 billion at the end of April to AED 1451.9 billion at the end of May. The ...

Abu Dhabi / Emirates Business National Takaful Company (Watania) that taglines itself as #SettlesClaimsFaster has launched its online customer portal to underwrite policies and to add great convenience to its customers. It provides a non-touch and paperless environment to get a policy online and that too in less than four minutes. Gautam Datta, CEO Watania says, “Our success in turning ...