News

Bloomberg A deal between Saudi Arabia and Russia to freeze oil output failed to stem the biggest drop in bullish bets since July. The agreement reached on February 16 isn’t going to revive crude prices, according to Goldman Sachs Group Inc. Iran said it supported the deal, without saying whether it would temper its own production. A ban on Iran’s ...

Dubai / Emirates Business The retail business segment of Emirates National Oil Company (ENOC) plans to increase capacity by 40 per cent between 2016 and 2020 across its network of service stations in the UAE. The growth plans include ongoing renovation of two major service stations in Dubai Internet City and Oud Metha and the construction of 54 more stations ...

ABU DHABI / WAM Abu Dhabi National Exhibitions Company (ADNEC) has announced that its impact on the Abu Dhabi economy in 2015 surged by 26% to AED3.47 billion from AED2.76 billion in 2014. This follows a 13% growth in the number of events hosted by Abu Dhabi National Exhibition Centre and Al Ain Convention Centre (AACC), which collectively hosted a ...

Beirut/ AFP A double bombing killed at least 57 people in Syria’s Homs on Sunday, as US Secretary of State John Kerry said a provisional deal had been reached on the terms of a ceasefire. World powers have been pushing for a break in fighting that was meant to go into effect by Friday, but have struggled to agree how ...

Alkesh Sharma Emirates Business Small and Medium Enterprises (SMEs) are emerging as the lifeline of UAE economy. In 2014-15, the country registered its best economic performance in 44 years by growing its Gross Domestic Product (GDP) to AED1.47 trillion, thanks to 60 percent contribution from the SME sector. Giving a major boost to SMEs, Emirates’ financial institutions, including the major ...

Ritika Sharma Emirates Business There is nothing more imperative for Arab leaders than creating job-generating economic growth and initiating formation of an Arab Economic Union. This thought reverberated during the launch of policy recommendations titled ‘Reconfiguring the Arab region and its global space beyond political economy and security threats’. The recommendations were drawn from Beirut Institute Summit held in Abu ...

ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan has awarded Ruben Eduardo Caro, Ambassador of the Republic of Argentina to the country, the Medal of Independence, in recognition of his efforts to develop and promote friendly relations and cooperation between the UAE and Argentina in all fields, during his tenure in the UAE. H.H. Sheikh ...

ABU DHABI / Emirates Business National Bank of Abu Dhabi (NBAD) has published its ‘Global Investment Outlook 2016’, entitled ‘Investment Strategies in Today’s Volatile Markets’, that examines the global economic and investment environment, and provides insights that should help investors navigate financial markets profitably during the rest of 2016. Last year’s report anticipated the difficult year ahead for 2015, describing ...

UAE-based enterprise Corporate Games has announced its new partners of 2016’s exciting sporting festival Abu Dhabi Corporate Games 2016 that is scheduled to take place at Abu Dhabi Zayed Sports City from March 25 – 26. This much-awaited sporting event has attracted high-level support from reputed private organisations, international corporations and government institutions. Benoit Montin, Managing Director of Corporate Games, ...

Spartanburg / AFP In an upside-down campaign season that’s seen a political dynasty done in by a celebrity businessman and a self-declared democratic socialist rapidly gain on the Democratic favorite, establishment money may finally find its footing. With Jeb Bush’s exit from the Republican presidential race, the field of candidates competing for the wealth behind the more than $100 million ...