News

Bloomberg A US proposal to further restrict sales to China-based Huawei Technologies Co has encountered objections within the Trump administration and is being held up as officials debate whether the step could harm exporters, a person familiar with the process said. Commerce Secretary Wilbur Ross said new rules coming soon will put more limits on technology sales to Huawei, which ...

Bloomberg Singapore private home prices rose just 0.5% in the final quarter of 2019, with the slowdown reflecting the lingering impact of government curbs more than a year after they were imposed. The rise was slightly higher than the preliminary estimate of a 0.3% gain, data from the Urban Redevelopment Authority show-ed, and compared with a 1.3% expansion in the ...

Bloomberg In deciding where to dine out in Hong Kong these days, many local residents are turning to a Yelp-like mobile app: Not for reviews of food or service, but to separate “yellow” from “blue” eateries. After more than seven months of unrest, even choosing a restaurant has become political in Hong Kong. Of 3,000 eateries listed on the app, ...

ABU DHABI / WAM The UAE has once again proved itself a resilient business hub, as its been named the world’s number one “mover” by US News 2020 Best Countries Rankings, for the second year in a row. According to the report, which is compiled in partnership with Bav Group and Wharton School of the University of Pennsylvania, “The World ...

ABU DHABI / WAM The Organisation of Petroleum Exporting Countries (Opec), has projected an increase in the global demand for oil to 100.98 million barrels per day (mbpd) during 2020, an increase of 1.22 mbpd compared to the average production of 99.77 mbpd for 2019, according to the Organisation’s Monthly Oil Market Report for January. World oil production includes all ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc), has been named the UAE’s most valuable brand for a second consecutive year by Brand Finance, the world’s leading brand valuation and strategy consultancy. Adnoc’s $11.39 billion (AED41.83 billion) 2020 brand value, a 28.6% increase over the previous year and a 145% increase since the launch of its transformation ...

Bloomberg President Donald Trump said he’s begun talks with World Trade Organisation (WTO) director-general Roberto Azevedo on changing the structure of the body, which he complained has been unfair to the US. Azevedo will travel to the US for negotiations, Trump said on Wednesday at a news conference to close his visit to the World Economic Forum annual conference in ...

ABU DHABI / WAM The UAE central bank announced that money supply aggregates for currency circulation outside banks and monetary deposits (M1), increased by 0.5%, from AED512.1 billion at end of November 2019 to AED514.8 billion at the end of December 2019. According to a statement by central bank, money supply aggregates, M2, increased by 2.2%, from AED1,380.5 billion at ...

ABU DHABI / WAM The Ministry of Finance (MoF), announced on Wednesday morning the results of the 2018 Consolidated Annual Report of the federation, and the final accounts of independent entities. The announcement came alongside the ministry’s participation in the Federal National Council’s third meeting, which took place in Abu Dhabi. The report stated the value of revenues reached AED56.1 ...

ABU DHABI / WAM First Abu Dhabi Bank (FAB), has been recognised as the ‘Best Trade Finance Provider in UAE’ by Global Finance at the Bankers Association for Finance and Trade Annual Meeting 2020. The bank received the award at a ceremony in Frankfurt. The awards recognise finance providers that have delivered excellent trade finance solutions by anticipating evolving trends, ...