Bloomberg The outlook for global oil markets has “improved somewhat,” with demand a little stronger than expected and supply reined in by a brutal price crash, the International Energy Agency (IEA) said. World oil production is on track for a “historic decline” this month to the lowest level in nine years, the IEA said in a monthly report. Opec and ...

ABU DHABI / WAM Commercial and Islamic banks operating in Abu Dhabi recorded a total net income of around AED9.6 billion in the first quarter of 2020, according to data issued on Thursday by the Statistics Centre-Abu Dhabi. The net income of traditional banks in Abu Dhabi from interests and investments totalled AED8.5 billion, accounting for 88.5 percent of the ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) distributed 10,000 “Weqaya kits” containing personal protective equipment (PPE) to local communities as part of its support for the UAE Volunteers initiative. The kits, which include masks, gloves and hand sanitisers, were distributed to the elderly, people of determination, and others across 12 locations including 8 community development centres ...