Dubai / WAM Dubai’s economy has proved its resilience and ability to recover quickly from the global repercussions of the Covid-19 pandemic by achieving high levels of external non-oil trade growth in Q1 2021. Dubai’s foreign trade this quarter touched AED354.4 billion growing 10% from AED323 billion in the corresponding period in 2020, and 5% compared to Q1 2019. This ...

Bloomberg Global oil demand will recover to pre-pandemic levels late next year, the International Energy Agency (IEA) predicted, urging Opec and its allies to keep markets balanced by tapping their plentiful spare production capacity. World consumption will once again reach 100 million barrels a day in the second half of 2022 as developed economies bring the virus under control, the ...

Bloomberg Group of Seven (G7) leaders debated how strongly to respond to China’s effort to win influence around the world and rebuke it over alleged forced labour practices — with US President Joe Biden taking a more hawkish stance and some other leaders wary of the risk the group is seen as an outright anti-China bloc. Saturday’s talks at the ...