News

Bloomberg Oil suffered its biggest one-day price plunge in the modern era, at one point crashing about 40% to below $11 a barrel as traders contended with an historic glut. Despite Opec+’s unprecedented output deal agreed a week ago, the oil market remains massively oversupplied as the lockdowns to fight the spread of the coronavirus reduce global crude demand by ...

DUBAI / WAM Dubai Customs announced that its external trade of masks during the first quarter of 2020 reached AED60.5 million, compared to the 2019 yearly total of AED63.5 million. To meet the rising demand of masks and medical gloves, Dubai Customs took further steps and procedures to facilitate the trade of these items against the outbreak of Covid-19, the ...

ABU DHABI / WAM Hamad Obaid Al Mansoori, Director-General of the Telecommunications Regulatory Authority (TRA) stressed that the UAE has accomplished achievements in smart services and digital transformation, due to the future vision of its leadership and the efforts of government authorities, in cooperation with the private sector. Al Mansoori pointed out that the UAE’s telecom and information technology sector ...

ABU DHABI / WAM Advancing the renewables-based energy transformation is an opportunity to meet international climate goals while boosting economic growth, creating millions of jobs and improving human welfare by 2050, stated the first Global Renewables Outlook released by the International Renewable Energy Agency (Irena), on Monday. While a pathway to deeper decarbonisation requires total energy investment up to $130 ...

ABU DHABI / WAM The Department of Municipalities and Transport (DMT) announced that the number of building permits issued by its subsidiaries in the first quarter of this year increased by 10 percent compared to the same period last year to reach 2,563 permits for buildings in various vital sectors. According to the report by the Department of Municipalities and ...

Abu Dhabi / WAM Louvre Abu Dhabi announced on Monday that it is adding to its current digital offering, providing free access to more content through virtual tours, video, audio and downloadable activities. This development brings Louvre Abu Dhabi’s stories of cultural connections — of its artworks and exhibitions — to audiences around the world, ensuring that the museum remains ...

Dubai / Emirates Business Emirates Delivers, the e-commerce delivery platform launched by the freight division of Emirates has witnessed a strong reception by UAE customers in March and April. A reliable and cost-effective e-commerce shipping solution targeted at individual shoppers and small businesses in the UAE, Emirates Delivers permits consolidation of purchases from multiple online retailers in the US into ...

DUBAI / WAM Al Jalila Foundation, a member of the Mohammed bin Rashid Al Maktoum Global Initiatives, announced on Monday that it has setup a relief fund to support patients in the UAE affected financially by the novel Covid-19 global outbreak. The fund, in partnership with a number of hospitals across the UAE, supports the government’s efforts to safeguard the ...

Abu Dhabi / WAM Mohammed bin Ahmed Al Bowardi, Minister of State for Defence Affairs, and Prabowo Subianto, Indonesian Defence Minister, on Monday, tackled means of enhancing defence and military cooperation in a way that achieves mutual interests. During a telephone call, Mohammed bin Ahmed Al Bowardi and Subianto reviewed a number of regional and international issues of common concern, ...

ABU DHABI / WAM First Abu Dhabi Bank (FAB) has partnered with Etisalat Digital to launch a digital invoicing solution that caters to the SME merchant base in a fully contactless manner. The digital invoicing solution allows SME merchants such as grocery stores, restaurants and other SMEs restricted by the Covid-19 pandemic to accept card payments in a safe and ...