News

Dubai / WAM Passengers using The Palm Monorail in Dubai can now board and alight at the newly-opened Al Ittihad Park Station for easy access to Palm Jumeirah’s central park, thousands of residences, and the Golden Mile Galleria Mall, master developer Nakheel announced on Monday. Located at the heart of The Palm’s Al Ittihad Park, the station is close to ...

Dubai / WAM Dubai parks has received 162,371 visitors, during Eid al-Fitr holidays, marking an increase of 2 percent over the same period last year, said Mohammed Abdul Rahman Al Awadhi, Director of Public Parks and Horticulture Department at Dubai Municipality. Al Awadhi said that the second day of Eid witnessed the maximum number of visitors to the parks reaching ...

Abu Dhabi / WAM The UAE has participated in the 8th session of the Implementation Review Group of the United Nations Convention against Corruption. In its capacity as party to the convention, the UAE was represented during the meeting by an official delegation of the State Audit Institution, SAI, the central authority that follows up on implementation of the convention ...

Abu Dhabi / WAM An agreement to secure co-operation and establish electronic linkage of the Abu Dhabi Events Licensing System in order to facilitate registration and licensing procedures has been reached between Abu Dhabi Tourism and Culture Authority (TCA Abu Dhabi) and the General Command of the UAE Armed Forces. The Memorandum of Understanding (MoU), paves the way for a ...

Dubai / WAM RTA’s Dubai Taxi Corporation (DTC) launched the ‘Smart Tow’ system offering roadside assistance for taxi breakdown via smartphone application. The DTC has recently signed a contract with the Arabian Automobile Association (AAA), a leading provider of roadside solutions, to operate and upgrade the service. The system is designed to ease the delivery of roadside assistance to the ...

Bloomberg Oil traded near the highest closing price in almost three weeks after US drilling slowed after a record expansion. Futures were little changed in New York after rising 8.3 percent the previous seven sessions. US drillers targeting crude reduced the number of active rigs for the first time in 24 weeks, according to Baker Hughes Inc. data. Libya’s oil ...

Bloomberg Libya’s oil production has climbed to more than 1 million barrels a day for the first time in four years, further complicating OPEC’s struggle to regain control of the oil market. The North African country is pumping 1.005 million barrels a day, according to a person with direct knowledge of the situation, who asked not to be identified because ...

Bloomberg Oil short-sellers have been on a roll, but their bets on declining prices may have begun to hit a wall. Hedge-fund wagers on lower West Texas Intermediate crude reached the highest level since August in the week ended June 27, after more than doubling in two months, according to Commodity Futures Trading Commission data. The bearish bets increased at ...

CAIRO / Reuters Egypt attracted almost a nine-fold increase in foreign investment in domestic debt instruments in the 2016-2017 fiscal year, the finance ministry said. Appetite for Egypt’s domestic debt has increased since the central bank floated the currency in November as part of an International Monetary Fund lending programme aiming to revive the economy. For the 2016/17 fiscal year, ...

Bloomberg With a landmark goods and services tax now rolling out across India, Prime Minister Narendra Modi is likely to turn his focus to job creation and other key economic reforms. Further big structural steps, such as revamping India’s land acquisition and labor laws, are unlikely to occur before the next national election, scheduled for 2019, as Modi’s Bharatiya Janata ...