News

Dubai / WAM The global economy is not likely to witness another Great Recession-style collapse, despite several indicators to the contrary in recent months, according to a newly-published report by the Arab Strategy Forum in partnership with Good Judgement Inc., the world’s leading geopolitical and economic forecasting institution. Titled ‘11 Questions for the Next Decade’, the wide-ranging and far-reaching findings ...

ABU DHABI / WAM Abu Dhabi Fund for Development (ADFD), the leading national entity for economic development aid, commended the opening of a major infrastructure project – Maafaru International Airport, located on one of the islands of the Noonu Atoll in the Maldives. To support the strategic objectives of the Government of the Maldives, ADFD contributed AED191 million ($52 million) ...

Bloomberg President Donald Trump added to the criticism of the World Bank’s plan for low-interest loans to China. “Why is the World Bank loaning money to China?” Trump said in a Twitter post. “Can this be possible? China has plenty of money, and if they don’t, they create it. STOP!” His tweet came a day after Treasury Secretary Steven Mnuchin, ...

Bloomberg Oil in New York posted the biggest weekly gain since June after Saudi Arabia surprised the market with a significant supply cut beyond what was agreed to with fellow Opec+ members. WTI settled 1.3% higher after Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said the country would continue its voluntary cut of 400,000 barrels a day. That brings ...

ABU DHABI / WAM In yet another global breakthrough in the 5G journey, Etisalat achieved over 3.1Gbps download throughput over its 5G Stand Alone (SA), network. In October this year, Etisalat successfully completed the first end-to-end 5G SA call in the UAE, becoming the first operator globally to achieve this milestone. The new throughput record is a result of a ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has ordered the exemption of financially distressed citizens, whose monthly income is below AED15,000 and families of deceased citizens, from repaying the remainder of housing loans to the Sheikh Zayed Housing Programme. The order by His Highness ...

Abu Dhabi / Emirates Business Under the patronage of His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister of the UAE, Minister of Presidential Affairs, and Chairman of Abu Dhabi Agriculture and Food Safety Authority (Adafsa), the third edition of Agriscape, the international exhibition dedicated to food security and agricultural investments abroad is set to kick off on ...

Sharjah / WAM Twenty-nine action and result-oriented workshops touching upon a diverse range of topics, and which seek to promote women’s economic participation and advancement across sectors, will be amongst the key highlights of the second edition of the Women’s Economic Empowerment Global Summit (WEEGS), to be held from December 10-11, at the Al Jawaher Reception and Convention Centre in Sharjah. ...

Dubai / WAM Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis (DSO), an integrated free zone technology park, and Finsa, a Spanish industrial company, celebrated today the inauguration of Finsa Middle East’s new regional office at Dubai Digital Park in DSO. Dr Juma Al Matrooshi, Deputy CEO of DSOA, officially inaugurated the new office along with ...

Sharjah / WAM With the onset of the festival season, residents looking for best quality furniture and furnishing materials can bank on an upcoming consumer fair in Sharjah. Showcasing the widest range of products from fast-moving high-volume items to high-end designs, at bargain deals, the inaugural home furnishing exhibition “Furniture 360” will bring together leading brands and stores in the ...