News

  Abu Dhabi / WAM Aldar Properties signed a partnership agreement with Al Fahim Group to bring the world’s first Mercedes-Benz and AMG showroom and state-of-the-art express service centre to Yas Island. The new showroom will be located in close proximity to Yas Mall and opposite the mall’s flagship luxury department store, Tryano. Construction is scheduled to start in the fourth ...

  Abu Dhabi / WAM A meeting on carbon capture and storage (CCS), techniques has been hosted by the UAE Ministry of Energy in Abu Dhabi. It was the second biannual meeting of the Carbon Sequestration Leadership Forum, CSLF, an international climate change initiative focused on the development of improved cost-effective technologies for carbon capture and storage. The forum is aimed ...

  Thiruvananthapuram / Emirates Business Etihad Airways is celebrating 10 years of flying to the southern Indian state of Kerala with the introduction of additional flights to the popular destination. The airline has launched a fourth daily non-stop service between Kozhikode and its Abu Dhabi hub offering convenient onward connections to cities worldwide. The extra capacity takes to 63 the ...

  Dubai / Emirates Business wasl Asset Management Group, one of the largest real estate development and management companies in Dubai – has announced the launch of the city’s second luxury Mandarin Oriental hotel, which is due to open in November 2020. The new location in Dubai’s Commercial District of Sheikh Zayed Road will complement wasl’s Mandarin Oriental hotel on ...

  Dubai / WAM Hussain Nasser Lootah, Director-General of Dubai Municipality inaugurated the Meteorological Radar project, which was launched by the Municipality in the field of Geodetic Survey. The project is implemented as part of the development of the early warning system for weather forecasting and monitoring of climate change and its impact on all regions of the Emirate of Dubai. ...

  Bloomberg Saudi Arabia’s giant oil and gas reserves and any decisions about producing from them will remain solely in government hands after Saudi Aramco’s initial public offering, Deputy Crown Prince Mohammed bin Salman said on state television. The world’s largest oil exporter known formally as Saudi Arabian Oil Co. holds a concession to pump the kingdom’s oil and gas, ...

  Bloomberg Oil rebounded from a six-week low on signs the US crude surplus is easing and as Russia signaled support for longer production cuts with OPEC. Futures in New York rose as much as 1.1 percent after closing at the lowest since March 21. US crude inventories fell by 4.16 million barrels last week and gasoline dropped by 1.93 ...

  Bloomberg China is breaking out its mouthpieces — and wallet — as it seeks to soothe investors in the face of tighter financial market regulations. The central bank-run Financial News urged stock investors not to overreact to tougher regulations in front-page commentary on Wednesday. The monetary authority will prevent swings in liquidity from exceeding tolerable levels, the official Xinhua ...

  Bloomberg Raja Mukherji, head of Asia credit research at Pacific Investment Management Co., has turned less bullish on the region’s dollar bond market, as record offerings raise the risks presented by weaker borrowers. “We don’t have a table-pounding buy on Asian credit today like we did last year, especially not for high-yield bonds,’’ said Mukherji. Asia dollar bond valuations ...

  Bloomberg Hong Kong’s Securities and Futures Commission plans to look more closely at corporate asset valuations, according to Chief Executive Officer Ashley Alder. Assets such as coal mines or residential property are valued by independent appraisers and their conclusions are used to justify prices paid by companies. It’s time for a “fresh look” at the issue, Alder said at ...