News

  Bloomberg Royal Mail said the company is battling for survival and accused a union of “peddling lies” in a strongly-worded letter to staff ahead of another round of strikes. Postal workers will walk out on Friday and Saturday, disrupting the delivery of Christmas gifts and cards in a blow to both Royal Mail and retailers that depend on festive ...

  Bloomberg Micron Technology Inc, the largest US maker of memory chips, said the worst industry glut in more than a decade will make it difficult to return to profitability in 2023. The company announced a host of cost-cutting measures, including a 10% workforce reduction, aimed at helping it weather a rapid drop in revenue. Micron also projected a steep ...

Abu Dhabi / WAM The UAE is preparing to host the International Summit of Women 2023, which will take place in Abu Dhabi on February 21-22, 2023, under the theme “Role of Female Leaders in Establishing Peace and Social Integration, and Driving Prosperity”. The event will be held under the patronage of HH Sheikha Fatima bint Mubarak, Chairwoman of the ...

  Abu Dhabi / WAM The Mother of the Nation Festival (Motn) will return with more action, shopping and mouth-watering cuisine from December 23 to January 1. The festival is returning by popular demand, to kick off the festive season in style on the Abu Dhabi Corniche. With new and exciting entertainment in store, visitors can expect more fun, more ...

Bloomberg Oil rallied to the highest since early December as US crude inventories decline more than anticipated. West Texas Intermediate futures for February delivery edged above $78 a barrel. US crude stockpiles fall 5.90 million barrels last week, according to an Energy Information Administration (EIA) report on Wednesday. Trading volumes have generally been below average this week ahead of the ...

Abu Dhabi / WAM Abu Dhabi Department of Energy (DoE) has launched a consumer protection policy to protect the interests of energy and water consumers in the emirate. The policy outlines a regulatory framework and assigns roles and responsibilities to companies that supply energy, water, sewerage, and district cooling services in the emirate. The aim of the new consumer protection ...

  Rabat / WAM During an official visit to Morocco, Dr Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, met with Aziz Akhannouch, Prime Minister of Morocco, and several ministers from the Moroccan government. The meeting was attended by Al Asri Saeed Ahmed Al Dhaheri, UAE ambassador to Morocco. At the beginning of the meeting, Dr Sultan Ahmed ...

  Dubai / WAM DP World and the Saudi Arabia-based Hassana Investment Company (Hassana), the investment manager for the General Organisation for Social Insurance (Gosi), which owns one of the world’s largest pension funds, announced on Wednesday an investment of approximately $2.4 billion (AED8.82 billion) in three of DP World’s flagship UAE assets. This sale of a strategic minority stake ...

  Abu Dhabi / WAM Abu Dhabi National Oil Company (Adnoc) and Mubadala Investment Company (Mubadala) on Wednesday announced a transaction involving OMV AG (OMV), a global energy and chemicals group, headquartered and listed in Vienna, Austria. Under the agreement, Adnoc will acquire a 24.9% shareholding in OMV from Mubadala. Financial details of the transaction are not being disclosed. Upon ...

Abu Dhabi / WAM The Mother of the Nation Festival (Motn) will return with more action, shopping and mouth-watering cuisine from December 23 to January 1. The Motn festival is returning by popular demand, to kick off the festive season in style on the Abu Dhabi Corniche. The region’s ultimate entertainment event will reopen following its wildly popular 10-day run ...