News

Bloomberg Oil held gains near a two-month high after data showed US production growth slowing at a time when Opec cuts and American sanctions on Venezuela have already eased concerns over a supply glut. Futures in New York rose as much 0.9 percent to reach the highest intraday level since November 21, after adding 2.7 percent. Opec’s crude output fell ...

TOKYO / WAM Japan imported from the United Arab Emirates 22.778 million barrels of crude oil in December 2018, data released by the Agency of Energy and Natural Resource in Tokyo showed. This accounts for 24.5% of Japan’s total crude imports, the agency that belong to the Ministry of Economy, Trade and Industry, said. Saudi Arabia provided 39.437 million barrels, ...

Abu Dhabi / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, have discussed with His Holiness Pope Francis the friendly relations between the UAE and ...

ABU DHABI / WAM Etihad Rail, the developer and operator of the UAE’s national railway network, has revealed details of their new strategy and brand identity, following the recent financing approval for Stage Two of the UAE’s national rail network. Operating under the directions of HH Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of Etihad Rail, the new ...

Emirates Business Worldwide leader of the Catholic Church, His Holiness Pope Francis, touched down in Abu Dhabi for a three-day trip to strengthen interfaith dialogue and understanding in support of peace. Etihad Airways, as the UAE’s national airline, is celebrating this first ever papal visit to the Arabian Gulf with festivities in its offices and on board its flights in ...

DUBAI / WAM Nasdaq Dubai and FTSE Russell have signed a license agreement for the exchange to launch derivatives on FTSE Russell’s Saudi Arabia equity indices. In its first use of the license, Nasdaq Dubai intends to launch futures on the FTSE Saudi Arabia Index later this month on a date to be announced. The futures, together with other derivatives ...

ABU DHABI / WAM Abu Dhabi Islamic Bank (ADIB), delivered a strong set of results for 2018 with net profit up 8.7 percent to AED 2,500.8 million and rise of 23.2 percent in Q4 2018 from Q4 2017 to AED748.3 million, driven by a growth in customer financing and an improvement in provisioning. The performance was also supported by higher ...

DUBAI / WAM As retail CEOs are adjusting their strategy to reinvent and transform their business, the 5th Edition of the Retail Leaders Circle Mena Summit returns to Dubai on March 25-26 in Dubai. Spotlighting a stellar line-up of speakers and renowned thinkers, the annually summit provides a unique platform for the region’s leaders to navigate a complex business environment ...

DUBAI / Emirates Business Dubai’s Department of Tourism & Commerce Marketing (Dubai Tourism) participated in the 26th edition of South Asia’s largest travel and tourism exhibition (SATTE 2019), in January, in Greater Noida, India, further reinforcing the emirate’s continued commitment to one of its top performing source markets. Marking the first international roadshow of 2019, Dubai Tourism will be represented ...

Bloomberg Petroleos Mexicanos bonds cratered after Fitch Ratings downgraded the state-owned company to just a notch above junk, spurring a slide in sovereign debt and the peso. The yield on Pemex bonds due in 2027 rose 28 basis points to 7.251 percent at 1:02 pm in New York, after jumping as much as 40 basis points earlier in the day. ...