News

Bloomberg The World Trade Organisation (WTO) cut its global trade growth forecast for this year to the weakest level in a decade, warning that further rounds of tariffs in an environment of heightened uncertainty could spark a “destructive cycle of recrimination.” The volume of merchandise trade will increase by 1.2% this year and 2.7% next year, after a 3% advance ...

Bloomberg The Dubai Gold and Commodities Exchange (DGCX), continued its record-breaking performance this year, registering its best quarter since inception with over 7.98 million contracts traded in third quarter of 2019, with over 2.37mn contracts traded in September, valued at $41 billion. The Exchange also recorded a monthly Average Open Interest (AOI), of 410,847 contracts in September, its highest AOI since ...

DUBAI / WAM Expo 2020 Dubai named Al Ain Farms as Official Dairy Provider of the upcoming World Expo. Founded in 1981, Al Ain Farms is the UAE’s largest integrated dairy company with highly automated feeding and cooling systems for its cows, camels and chickens, as well as cutting-edge technology for feeding, milking and processing. It was established under the ...

Bloomberg Oil rose after its biggest quarterly slump of the year, yet ongoing concerns that a faltering global economy will erode demand continued to weigh on the market. Futures increased 1.1% in New York, having tumbled 7.5% in the past three months as Saudi Arabia fully restored its output following devastating attacks that had temporarily halved its production. Attention is ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has approved the new vision of Dubai Culture, which outlines a comprehensive roadmap to consolidate Dubai’s stature as a global destination for culture, innovation and talent. His Highness Sheikh Mohammed approved the new vision during a visit to ...

Abu Dhabi / WAM Early voting for the Federal National Council (FNC), elections kicked off in nine polling stations across the UAE on Tuesday morning, and will run until October 3. Official voting will begin on election day on October 5, at 39 polling stations nationwide. Voters can cast their ballots at polling stations, equipped with electronic voting systems, in ...

Abu Dhabi / WAM New Zealand has announced that starting October 1, UAE passport holders who wish to visit New Zealand for a short period must hold an electronic travel authorisation (NZeTA), issued by Immigration New Zealand, which is valid for multiple visits and for up to two years and will facilitate the border arrival process. Emiratis must apply online ...

Fujairah / WAM Dr Sultan bin Ahmad Sultan Al Jaber, Minister of State and (Adnoc) Group CEO, was honoured on Tuesday with the ‘New Silk Road CEO of the Year Award’ for his outstanding contribution to enabling the flow of energy across the fast-growing economies of Asia. The award was presented to him by Sheikh Saleh bin Mohammed Al Sharqi, ...

Sharjah / WAM With over 500 participating exhibitors and leading brands from the Gem and Jewellery Industry, the 47th Watch & Jewellery Middle East Show opened on Tuesday at the Expo Centre Sharjah, and was inaugurated by HH Sheikh Abdullah bin Salem bin Sultan Al Qasimi, Deputy Ruler of Sharjah and Deputy Chairman of Sharjah Executive Council. The bi-annual event ...

Dubai / WAM Aldar Properties on Tuesday announced that, in line with its sustainability agenda and its commitment to supporting future generations of UAE nationals, it is contributing AED36 million to Sandooq Al Watan – the UAE’s national fund, taking its total contributions to AED120 million. As a part of its contribution, Aldar is pledging AED4.5 million to fund research ...