News

Bloomberg Crude posted the worst weekly decline in more than a year on concern that the spread of China’s coronavirus will cripple fuel demand. Brent futures sank 2.2% in London. Deaths from the coronavirus rose to at least 26 and China expanded travel restrictions for about 40 million people in an attempt to halt contagion. The US is monitoring more ...

ABU DHABI / WAM The UAE Consulate in Houston has confirmed that all Emiratis in Houston are safe following the explosion that occurred in a factory in the city, advising all UAE citizens in Houston to register for the online “My Presence” service via the Ministry of Foreign Affairs’ website or its smart application and to communicate with the consulate ...

SHARJAH / WAM Sharjah Islamic Bank (SIB) recorded a seven percent increase in its total net profit, making a total of AED545.5 million in 2019, in comparison to the AED510.4 million recorded in 2018. In a statement on Saturday, the bank said its balance sheet reflects strong performance and sound financial position, with total assets reaching AED46.4 billion at the ...

Bloomberg UK Prime Minister Boris Johnson plans to use high tariffs as “leverage” to accelerate trade talks with the European Union, US and other nations, The Times of London reported. The tariffs could result in taxes of 30% on some French cheeses and 10% tax on German cars, the newspaper said. Britain currently has trade deals with a number of ...

TASHKENT / WAM In the presence of Sardor Umurzakov, the Uzbekistan Minister of Investments and Foreign Trade, an implementation agreement was signed at a ceremony in Tashkent, Uzbekistan, by the Ministry of Investment and Foreign Trade, and JSC Thermal Power Plants of the Republic of Uzbekistan (JSC), and Mubadala Investment Company (Mubadala). The agreement establishes a roadmap for the future ...

Bloomberg Boeing Co. is considering another cut to production of its marquee 787 Dreamliner as the aerospace giant contends with sluggish demand. Executives are studying whether to trim monthly output by two planes to 10 a month from a reduced pace that was announced in October. While no final decision has been made, a new production schedule for the twin-aisle ...

ABU DHABI / WAM A new initiative launched by the Department of Culture and Tourism – Abu Dhabi aims to provide a significant boost to the most established, longest-running local eateries and shops in the emirate by raising their profiles as ‘places of cultural significance’, and by encouraging more people to try them out. The initiative, called Urban Treasures, sees ...

DUBAI / WAM The Dubai Police Maritime Rescue Unit executed 458 maritime operations and attended to 26 marine accidents in 2019, Colonel Saaed Al Madhani, the acting director of Dubai Police Ports Stations revealed. Dubai Police Maritime Rescue Unit confirmed their readiness to ensure the safety and the security of Dubai beaches and waters. “We are ready to deal with ...

QUITO / WAM A major global summit on migration will be coming to Dubai in January 2021, after the UAE formally took over the Presidency of the Global Forum on Migration and Development (GFMD) from Ecuador on January 23. The hand-over, which took place during a formal ceremony in Quito, marked the start of an ambitious yearlong programme of events ...

NAIROBI / WAM Policy makers, mayors, academics, business people, community leaders, artists and urban planners are among thousands of participants to attend the world’s leading conference on urbanisation, the World Urban Forum, in Abu Dhabi from February 8 – 13. It will be the first time that the World Urban Forum, which is convened by the UN agency focused on ...