Bloomberg Oil fell in New York after an industry report signalled another increase in US crude stockpiles, while the spread of the coronavirus continued to cloud prospects for an economic recovery. Futures dropped 1.6%, extending the decline after settling at the highest since early March on Monday. The American Petroleum Institute reported that inventories rose by 1.75 million barrels last ...

DUBAI / WAM Nasdaq Dubai on Wednesday welcomed the listing of a $500 million sukuk by Sharjah Islamic Bank (SIB). The capital raised will support SIB’s activities and strategic development to cater to its customers in corporate, investment and retail banking. In a statement on Wednesday, Nasdaq Dubai said that the five-year sukuk was subscribed 7.2 times by regional and ...

Abu Dhabi / WAM Hub71 has collaborated with two leading banks, Mashreq Bank and First Abu Dhabi Bank, to help identify and solve the pain points faced by startups. This follows the launch of Hub71’s whitepaper which explored the challenges that startups face when opening a UAE bank account. The whitepaper, titled: Rethinking Banking for Startups aims to foster collaboration ...