News

  Bloomberg Gold’s on the ropes. Bullion broke below $1,200 an ounce on Monday after losing more than $100 in less than a month as Federal Reserve policy makers land punch after punch by talking up the prospects for a U.S. interest rate rise and reinvigorating the dollar. Bullion for immediate delivery lost as much as 1 percent to $1,199.80 ...

  Bloomberg Grupo BTG Pactual, the Brazilian bank that was forced to sell assets after the arrest of its founder last year, is exploring the sale of its 50 percent stake in an African joint venture with state-run oil company Petroleo Brasileiro SA, according to people with knowledge of the matter. BTG has held sales talks with independent oil explorers ...

  Bloomberg Workers at South32 Ltd.’s Cerro Matoso, the world’s second-biggest ferro-nickel mine, voted to take strike action amid a dispute over negotiations on a wage agreement. Members of the Sintracerromatoso union approved the move at the operation in northern Colombia, the union’s negotiator Eder Blanco confirmed in a text message. A strike must begin before June 14, and a ...

  ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and President Mohamed Ould Abdel Aziz of Mauritania, on Sunday discussed fraternal relations as well as regional and international issues of common concern. The talks took place after HH Sheikh Mohamed received the ...

  DUBAI / WAM Noor Bank successfully priced its debut perpetual US$ 500 million Tier 1 capital issuance. In the midst of multiple regional issuers on the road looking to raise capital market funding, Noor Bank was able to print its inaugural AT1 Sukuk at a very competitive pricing on the back of strong investor demand. This was the first ...

  Abu Dhabi / EMIRATES BUSINESS Abu Dhabi Airports’ Procurement department has been named the Middle East’s “Procurement Team of the Year” by the Chartered Institute of Procurement and Supply (CIPS), at the Middle East Supply Management Awards 2016. The award is among the most prestigious recognitions the procurement and supply chain arm of an organization can receive. The CIPS ...

  DUBAI / WAM The Expo 2020 Dubai on Sunday announced Emirates Airline as its Official Airline Partner. The partnership agreement, which was signed by Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Airline and Group, and Reem bint Ibrahim Al Hashemi, Minister of State for International Cooperation and Director-General of Bureau Expo Dubai 2020, links ...

  DUBAI / WAM In implementation of directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai, HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, instructed that the Star Rating System for all service delivery channels be applied in all Government of Dubai services centres within ...

  ABU DHABI / WAM Abu Dhabi Ship Building (ADSB), a leading provider of construction, repair and refit services for naval, military and commercial boats and ships, appointed SNO Yachts International, a leading marine sales and service provider in Italy, as its sales agent in Italy to market small boats and landing crafts built by ADSB. The agreement was signed ...

  CAIRO / WAM Dr Anwar bin Mohammed Gargash, Minister of State for Foreign Affairs, visited the UAE consular section and visa-issuance centre, opened recently in the Egyptian capital. The centre, the fifth to open outside the UAE, will speed up issuance of Emirati visas for Egyptian and expatriates and streamline entry of Egyptian workers to the UAE through e-gates ...