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, reviewed the prospects of cooperation between the UAE and the European Union (EU) in a call with Ursula Gertrud von der Leyen, President of the European Commission. The conversation covered the global fight against …

Bloomberg The Organisation of Petroleum Exporting Countries (Opec) predicted that fuel demand will remain “under pressure” during the second half of this year because of the ongoing economic fallout from the coronavirus, a day before ministers were due to assess world markets. While there will be a “gradual recovery” in the global economy, it won’t compensate for the slump during …

RIYADH / WAM Aramco on Wednesday announced the successful completion of its share acquisition of a 70 percent stake in Saudi Basic Industries Corporation (Sabic), from the Public Investment Fund (PIF) the sovereign wealth fund of Saudi Arabia, for a total purchase price of SAR 259.125 billion ($69.1 billion), equating to SAR 123.39 price per share. The completion of the …