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Bloomberg Oil traded near the lowest close since mid-October as the market was dominated by alarm that the deadly coronavirus will hurt economic activity in China and beyond. Futures held near $53 a barrel in New York after losing 9% during five straight days of declines on concern reduced travel will hit jet fuel demand in the world’s biggest oil ...

SHARJAH / WAM Bee’ah, the award-winning UAE-based sustainability and environmental services pioneer, has been appointed as the waste management partner for Egypt’s new Administrative Capital, which is being developed by the Administrative Capital for Urban Development and is one of the largest urban development projects in the world. Bee’ah, the six-time winner of Waste Management Company of the Year in ...

DUBAI / WAM Burj Al Arab has been recognised as the ‘Best Hotel in the World’ as well as the ‘Best Hotel in the Middle East’ at the prestigious ‘Ultimate Luxury Travel Related Awards’, ULTRAs, for the second year in a row. Jumeirah Group, a global hotel company and a member of Dubai Holding, has announced that its iconic flagship ...

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, stated that the UAE has prioritised its relations with African countries based on mutual respect and common interests, to achieve the aspirations of their peoples for development, progress and prosperity. The UAE has made ...

Abu Dhabi / WAM In an effort to reinforce the commitment of the Central Bank of the UAE (CBUAE), to achieving the national agenda of Emiratisation and increasing the Emirati workforce, the bank is taking a leading role in Tawdheef, by aiming to recruit 50 UAE nationals by the end of 2020. As a central pillar of reference to the ...

Dubai / WAM Two streets in Dubai — Happiness Street and Al Mustaqbal Street — have had their names swapped. The Roads and Transport Authority (RTA), announced in a press statement on Tuesday that the renaming follows the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, and Prime Minister of the UAE and Ruler of Dubai. Happiness ...

Dubai / WAM Sultan bin Saeed Al Mansouri, UAE Minister of Economy and Chairman of the General Civil Aviation Authority (GCAA), opened the second edition of the Global Investment in Aviation Summit (GIAS 2020), at Madinat Jumeirah, Dubai, which is offering a platform for stakeholders to share insights, experiences and expertise. Organised by the GCAA under the theme, “Enabling global ...

TUNISIA / WAM Kais Saied, President of Tunisia, received His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation. At the start of the meeting, Sheikh Abdullah conveyed, to President Saied, the greetings of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime ...

Bloomberg One way the rich get richer is through inheritance, and they’re barely paying taxes on it. Americans are projected to inherit $764 billion this year and will pay an average tax of just 2.1% on that income, New York University law professor Lily Batchelder estimates in a paper published on Tuesday by the Brookings Institution. By contrast, the estimated ...

Bloomberg General Motors Co affirmed plans to build electric pickups and SUVs at its Detroit-Hamtramck plant and scheduled the start of production for late next year. Output of electric Cruise Origin driverless vehicles will follow soon after the initial pickups roll off the line, GM said in a statement . The automaker committed to investing $2.2 billion in the factory ...