News

Dubai / WAM The Dubai Gold and Commodities Exchange (DGCX), announced on Wednesday that it has rounded off a highly successful 2018 by breaking its annual volumes record, trading 22.26 million contracts, up 28 percent from the previous year. The total value of the contracts was $474.94 billion, beating its previous highest value of $448 billion traded in 2013. Average Daily ...

Dubai / WAM Mohammad bin Abdullah Al Gergawi, Minister of the UAE Cabinet Affairs and The Future, Vice Chairman of the Board of Trustees and Managing Director of Dubai Future Foundation (DFF), has appointed Maha Khamis Al Mezaina as Director of Area 2071 in Dubai Future Foundation. Area 2071 was launched by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President ...

Dubai / WAM MyHome services from the Emirates Post will now be available for residents living in the apartments. The services were before available exclusively to residents of a villa, which enabled mail delivery to one’s home either once or twice a week – based on subscription package. Obaid Mohammed Al Qatami, Acting Chief Commercial Officer at Emirates Post Group ...

Abu Dhabi / WAM The second edition of the Abu Dhabi Publishing Forum (ADPF), organised by Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi), is set to discuss a number of pressing topics in the publishing sphere under the theme, ‘The Future of Digital Publishing: Technologies & Challenges – the Global Experience’. This year’s edition of ADPF, ...

Bloomberg The Canadian oil industry could be in for another turbulent year in 2019, depending on how some pivotal events pan out. Government-mandated production cuts and the potential startup of a key crude pipeline are among key developments to watch for this year. While the announcement of production curtailments by Premier Rachel Notley has succeeded in lifting Canadian crude prices ...

Bloomberg China has sought talks with India to allay concerns on a regional free trade pact it is spearheading, two people familiar with the matter said, as Beijing seeks newer markets amid the ongoing trade war with the US. The 16-country Regional Comprehensive Economic Partnership (RCEP) has been in the works for a while and China is keen to conclude ...

Bloomberg Tropical Cyclone Penny slammed into the far north coast of Australia’s Queensland state near Rio Tinto Group’s Weipa bauxite mine, triggering warnings of flash flooding and damaging winds. The category 1 cyclone, with wind gusts of up to 100 kilometers per hour, is expected to weaken into a tropical low later Tuesday evening as it crosses Cape York Peninsula, ...

Bloomberg Even after a plunge last month that wiped $46 billion off Chinese health-care stocks, domestic drugmakers may be far from their floor as a Beijing-led policy shift gathers pace. China’s plan to drive down generic drug prices through a centralised bulk procurement programme is set to redraw the industry by forcing its thousands of small generic drugmakers to streamline ...

Bloomberg Coal’s three-year run of blistering gains in Europe is set to end, clobbered by a combination of weakening demand and energy polices aimed at phasing out the dirtiest fossil fuel. After prices more than doubled since 2016 as Asian importers drove demand, coal is expected to fall more than 10 percent to $76.50 a tonne this year in Europe, ...

Bloomberg UK manufacturing growth unexpectedly improved to a six-month high in December 2018, as companies built up inventories and boosted new orders in preparation for a potentially disruptive Brexit. IHS Markit’s Purchasing Managers Index for the industry rose to 54.2, more than the 52.5 expected by economists. Still, the average reading for the final three months of 2018 was the ...