News

Bloomberg The Organization of Petroleum Exporting Countries’ (Opec’s) output fell for a seventh consecutive month as the group signalled it would keep supplies restrained at least until the end of the year. Crude production in June dropped to 30 million barrels a day as US sanctions further curtailed Iranian shipments and Saudi Arabia chose to pare back its output. The ...

Dubai / Emirates Business Dubai’s non-oil trade with Ukraine nearly doubled over between 2016 and 2018 to reach $571 million last year, while Ukrainian agricultural and metal exports dominated trade volumes. Signalling expanding ties between businesses in Ukraine and Dubai, the trade figures were recently revealed at the 5th National Export Forum in Kiev, Ukraine, where representatives from Dubai Chamber ...

Dubai / Emirates Business Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, received three global awards at the 110th IDEA Annual Conference & Tradeshow 2019, which was held in Pittsburgh, USA. Two are IDEA gold awards, for the number of buildings committed and for the total Building area committed. The third award is the IDEA ...

Dubai / WAM The Dubai Supreme Council of Energy (DSCE), on Sunday announced that Dubai carbon emissions have decreased significantly despite the Emirate continuous growth and development, in conjunction with the convening of the preparatory conference for the UN 2019 Climate Summit in Abu Dhabi. The net CO2 emissions of the Emirate of Dubai have achieved an astounding 19 percent ...

Abu Dhabi / Emirates Business Etihad Airways, the national carrier of the UAE, upgraded services on three key Asian routes this week, introducing larger aircraft to accommodate growing demand. Flights between the UAE capital, Abu Dhabi, and major two Chinese cities, Shanghai and Chengdu, have been upgraded with next-generation Boeing 787 Dreamliners, while the South Korean city of Seoul has ...

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, has received the UN Secretary-General Antonio Guterres, who is currently visiting the UAE for the Abu Dhabi Climate Meeting that kicked-off on Sunday. More than 1,000 world-renowned political figures and climate action experts are ...

Abu Dhabi / Emirates Business Abu Dhabi Securities Exchange (ADX) announced on Sunday that it is reducing its trading commission fees starting July 1 thus making ADX among the Mena region’s least expensive stock markets with regards to trading commissions. This initiative is designed to reduce costs on investors, build confidence, increase liquidity, as well as attract more investors into ...

Dubai / WAM The Dubai International Financial Centre (DIFC), is set to make structuring and financing faster, economical, and more flexible. Under a newly introduced regime, structures such as Intermediate Special Purpose Vehicles and Special Purpose Companies will now be classified as ‘Prescribed Companies’. The new prescribed companies regime expands the previous regime to also allow certain firms to establish themselves ...

Abu Dhabi / WAM Although some countries have taken concrete steps against climate change, the related global efforts are not satisfactory, according to UN Secretary-General Antonio Guterres. “Climate change is outpacing our efforts. It is happening faster than we expected,” he said in his opening remarks at the Abu Dhabi Climate Meeting on Sunday. “All over the world, people are ...

Abu Dhabi / WAM Brune Poirson, French Secretary of State for the Ecological and Inclusive Transition, arrived in the UAE to attend the ‘Abu Dhabi Climate Meeting for the UN Climate Action Summit 2019’, taking place on Sunday and Monday. France, who currently holds the Presidency of the G7, has made combating climate change one of its top diplomatic priorities, ...