News

Bloomberg A no-deal Brexit would be an economic catastrophe for Ireland that would crush exporters, business leaders say. Yet they remain prepared to jump off the cliff with Prime Minister Leo Varadkar if he asks them. Brexit supporters in the UK have long argued that economic self-interest will eventually force Varadkar to blink on the issue that’s holding up Brexit ...

Bloomberg US East Coast refining margins have more than doubled in the past month, helped by weakening physical crude markets and a fire that crippled the biggest facility in the region. Philadelphia Energy Solutions announced it plans to close after a fire in late June, it’s second that month, destroyed most of an alkylation unit, which makes high-octane gasoline. The ...

Bloomberg Investors consider an economic recession in Germany inevitable, according to Sentix. An index measuring current conditions and expectations for Europe’s largest economy fell to its lowest level in almost a decade, according to a survey. A similar gauge for the euro area dropped to lowest since 2014. The data suggest that de-escalating tensions between the US and China at ...

Bloomberg Automakers to trading houses from North America to Europe are becoming more concerned about future supply shortages of key materials needed for electric vehicle batteries as spending on new production soars, according to the developer of a $1.5 billion project in Australia. More than a dozen parties have now expressed interest in taking up as much as a 50 ...

MOSCOW / WAM The UAE has been named as the partner country of Moscow Global Forum ‘City for Education’ set to take place in conjunction with Aqdar World Summit from August 29 until September 1 in Russia. Maadhad Hareb Mughair Al Khaili, UAE Ambassador to Russian Federation highlighted importance of hosting such international events that ensure the exchange of knowledge ...

ABU DHABI / WAM Around AED31 billion was generated through 10,000 plus real estate transact-ions across Abu Dhabi Emirate in first half of 2019, according to the first biannual report of the Department of Urban Planning and Municipalities (DPM). “These results demonstrate the buoyant real estate market in Abu Dhabi,” Falah Al Ahbabi, Chairman of the DPM, commented, adding, “These ...

Al Ain / Emirates Business Strata Manufacturing, the advanced composite aero structures manufacturing company wholly-owned by Mubadala Investment Company PJSC, is to expand its current manufacturing facilities to on board the assembly of the Boeing 787 Dreamliner vertical fins. The modifications to Strata’s existing facility at Nibras Al Ain Aerospace Park follow an agreement signed by the two aircraft manufacturers ...

Dubai / Emirates Business Etihad Credit Insurance (ECI), the UAE federal credit insurance company has signed a memorandum of understanding (MoU) with the Corporate Banking division of Emirates NBD, enabling them to expedite their global business reach. This partnership will empower UAE-based firms to strengthen their presence regionally and internationally by providing them access to ECI’s comprehensive range of trade ...

Dubai / WAM Smart Dubai has upgraded its flagship “Dubai Now” application, designed to be the city’s one-stop shop for smart services, which will allow users to donate to four types of beneficiaries during the Year of Tolerance. Launched in collaboration with the Dubai Department of Finance (DoF), the new feature offers a platform in which donations can be made ...

Dubai / WAM Saeed Mohammed Al Tayer, Managing Director and CEO of Dubai Electricity and Water Authority (Dewa) received a high-level delegation from the Brunei Ministry of Energy, Manpower, and Industry (MEMI) at the Dewa’s Sustainable Building in Al Quoz. The two sides discussed ways to work together and exchange experiences and practices to enhance Dubai’s position as a global ...