ABU DHABI / WAM Abu Dhabi Fund for Development (ADFD) on Wednesday signed three memoranda of understanding (MoUs) with the Government of Turkmenistan aimed at strengthening economic and development cooperation through investment in vital sectors that would benefit economies of both countries. The first MoU involved the establishment of an investment company in Turkmenistan with a target capital of AED370 ...

Bloomberg Oil extended gains after closing at the highest level in more than a year as declines in US and Chinese crude stockpiles added impetus to a rally driven by tightening global supplies. Futures in New York climbed to trade above $55 a barrel. The American Petroleum Institute reported crude inventories fell by 4.3 million barrels last week, people familiar ...

ABU DHABI / WAM UAE’s automotive trade, including cars, tractors and other vehicles, amounted to around AED68.8 billion from January through September 2020, figures by the Federal Competitiveness and Statistics Centre (FCSC) have shown. One of the largest automotive markets (including cars, parts and accessories, trailers and semi-trailers, trucks, public transport vehicles, tractors, other) in the GCC, UAE has over ...