News

  Bloomberg After the worst French wheat crop in decades this season, the European Union’s largest producer looks set to return to global export markets. Output of soft wheat is expected to jump by about a third to 37.7 million metric tons in the season starting July, according to estimates from Tallage, publisher of the Strategie Grains report. That will ...

  DUBAI / WAM Trade between the UAE and China is expected to increase to US$60 billion (AED216 billion) by the end of this year, up from $54.8 in 2015, as the UAE is now China’s second largest trading partner in the Middle East and the region’s biggest market for Chinese goods, according to the Dubai Economic Council (DEC). China, ...

  DUBAI / WAM Foreign investors purchased shares worth AED1.8 billion on the Dubai Financial Market (DFM) over the week, while the value of stocks they sold amounted to AED1.9 billion, a DFM report said. The net foreign investment during the period reached AED150.1 million, as aggregate sale. The value of shares bought by foreigner investors comprised 35.6 per cent ...

  ABU DHABI / WAM The National Bank of Abu Dhabi (NBAD) closed the syndication of its US$2 billion club loan facility with a large oversubscription. Commitments of nearly $3 billion were received in syndication from 14 major international banks across Europe, Asia and the United States. However, due to its excellent liquidity position, NBAD will not be increasing the ...

  ABU DAHBI / WAM The Central Bank of the UAE (CBUAE) announced that, as of December 15, it has raised interest rates applied to its Certificates of Deposits in line with increase in interest rates on US Dollar, following the Federal Reserve Board’s decision to increase Federal Funds Rate by 25 basis points. Certificates of Deposit, which CBUAE issues ...

  MUSCAT / WAM The UAE participated in the meeting held on Thursday by Arab tourism ministers in Muscat, Oman to discuss efforts in developing the tourism industry in the Arab region. The UAE delegation at the 19th Arab Ministerial Tourism Council, an affiliate of the Arab League, is headed by Mohammed Khamis Al Muhairi, Under-secretary at the Ministry of ...

  VIENNA / WAM In 2017, world oil demand growth is forecast at 1.15 mb/d to average 95.56 mb/d, according to OPEC Monthly Oil Market Report. ‘‘World oil demand growth is estimated at 1.24 mb/d in 2016 supported by the transportation sector, reflecting low retail prices and better-than-anticipated vehicle sales. In the non-OECD, other Asia and China saw solid-to-steady oil ...

  Ajman / Emirates Business The Ajman Real Estate Conference 1, being organized by the Real Estate Regulatory Agency – Ajman (ARRA), the state-run institution mandated with regulating the real estate activities and developments in Ajman, was inaugurated this morning by Sheikh Abdul Rahman bin Ali bin Khalifa Al Khalifa, Director General of Survey and Land Registration Bureau – Bahrain, ...

  Dubai / Emirates Business The UAE Ministry of Health and Prevention successfully received ISO 9001:2015 certification for Quality Management Systems. The UK-based Lloyd’s Register Quality Assurance (LRQA), the world’s leading provider of independent assessment services, certified nine of the Ministry’s new central departments following stringent assessment. Dr. Mohamed Salim Al Olama, Undersecretary of the UAE Ministry of Health and ...

  Dubai / Emirates Business DEWA received Sheikh Majed Al Sabah, CEO of 360 and founder of The Fragrance Kitchen (TFK). He is one of the most influential Arabs and one of the most influential people in the world on social media. It was his first visit to the Mohammed bin Rashid Al Maktoum Solar Park in Seih Al Dahal, ...