DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on Wednesday announced allocation of AED5.8 billion ($1.6bn) for water and electricity projects in northern emirates. His Highness also approved an AED2.4 billion project to build dams and a federal water network that connects the water resources ...

Bloomberg The global economy is suffering more than expected from trade tensions and political uncertainty which are clouding prospects particularly in Europe, according to a gloomy report from the OECD. As these are the organisation’s first forecasts in almost four months, it’s partly playing catch-up with developments since then. In that period, little has gone right for the world’s biggest ...

DUBAI / WAM Nasdaq Dubai welcomed the listing of a $750 million conventional bond by Emirates Development Bank (EDB). It is the first product to be listed on the exchange by the bank, which is wholly owned by the UAE government. The listing supports EDB’s mission which includes contributing to the economic prosperity of UAE nationals by providing financing solutions ...