News

Bloomberg Brazil’s inflation slowed more than expected in the month through mid-November, reinforcing expectations that the policy makers will leave their key interest rate unchanged this year. The IPCA-15 index rose 0.19 percent from mid-October, after a 0.58 percent jump in the prior month, the national statistics institute reported. The reading was below the median forecast for a 0.24 percent ...

Bloomberg Mining companies operating in Mexico extended a sell-off, with Southern Copper Corp falling the most since 2011, even as a Mexican lawmaker attempted to calm market worries over the prospect of tougher regulation under incoming President Andres Manuel Lopez Obrador. Large Mexico-based mining companies have slipped almost 8 percent on average over the past two days, according to analysts ...

Abu Dhabi / WAM The UAE Cabinet approved long-term visa system for investors, entrepreneurs, specialised talents and researchers in the fields of science, knowledge and outstanding students to facilitate business and create an attractive and encouraging investment environment for the growth of business for investors, entrepreneurs and professional talents. The decision of the Cabinet follows the previous decision approved earlier ...

Abu Dhabi / WAM “To treat every person, no matter what his creed or race, as a special soul, is a mark of Islam.” HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, picked these golden words from one of the late Sheikh Zayed’s sayings, which he believes, every citizen should, memorise and live by. ...

Abu Dhabi / WAM The Ministry of Tolerance organised the Communities Forum in Abu Dhabi concluding the specialised forums held during the National Tolerance Festival under the theme “On Zayed’s Approach”. The Forum was attended by more than 70 public personalities of community leaders and ambassadors of sisterly and friendly countries, along with business leaders, investors, thinkers and clergymen, members ...

Emirates Business The Federal Tax Authority (FTA) asserted that the digital system for the tax refunds for tourists scheme has achieved notable success since it came into effect, noting that FTA officials were present at the Abu Dhabi, Dubai, and Sharjah international airports — the ports of entry included in the first phase of the project — to verify that ...

Bloomberg Oil notched its biggest weekly loss since the depths of the last price crash, as record Saudi output and a global stock sell-off intensified crude’s free fall. Futures slid below $60 in London and ended the week down about 12 percent, the worst showing since January 2016. Traders focussed on the growing risks of a new glut of crude ...

DUBAI / WAM The Dubai Electricity and Water Authority (Dewa) awarded a AED 118 million contract to supply, fit, and commission 26.5 kilometres of water pipelines across Dubai. According to a press statement, the new project will help achieve vital ongoing projects on Dewa’s infrastructure, and increase water flow to meet demand. “This project is a part of our efforts ...

Dubai / Emirates Business His Excellency Omar Sultan Al Olama, Minister of State for Artificial Intelligence (AI), stressed that advanced technology and Artificial Intelligence are key tools for humanity. Al Olama also highlighted the importance of adopting these tools, developing them, and enabling them through flexible legislation in order to govern their usage. This statement was made during Al Olama’s ...

DUBAI / WAM The Emirates Authority for Standardisation and Metrology (Esma) met with the Food and Beverage Industry Group of the Dubai Chamber of Commerce and Industry (DCCI) to develop opportunities for the food industry and facilitate the flow of import and export movement in a way that supports the movement of goods and food commodities and serves the national ...