ABU DHABI / WAM Abu Dhabi Ports’ Corporate Services Department was awarded the Procurement Excellence Gold Award from the UK-based Chartered Institute of Procurement and Supply as part of institute’s Advanced Procurement Excellence Programme. The institute recognised Abu Dhabi Ports’ efforts in elevating its procurement function’s role in providing vital input into company’s strategic business decisions, enhancing customer experience and ...

Bloomberg The International Monetary Fund (IMF) predicted the “Great Lockdown” recession would be steepest in almost a century and warned the world economy’s contraction and recovery would be worse than anticipated if coronavirus lingers or returns. In its first World Economic Outlook report since spread of Covid-19 and subsequent freezing of major economies, the IMF estimated on Tuesday that global ...

Bloomberg Oil erased earlier gains as the demand destruction caused by the coronavirus pandemic outweighed planned output cuts from the world’s biggest producers. Futures fell 4.6% in New York amid persistent concerns of a massive supply glut. A key timespread on American benchmark — a gauge of the health of the market — is at its weakest level in more ...