Bloomberg Oil’s spectacular collapse deepened as widening global efforts to fight the spread of the coronavirus looked set to trigger the most severe contraction in annual oil demand in history. Futures tumbled more than 9% after losing a quarter of their value last week. Demand for jet fuel, gasoline and diesel is falling off a cliff as a result of ...

DUBAI / WAM The Smart Dubai Department launched the ‘100% Paperless Stamp’ initiative as part of its contribution to the ‘Government Development Track’ – one of six tracks announced by Dubai Council, which was inaugurated at the beginning of 2020 by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. ...

ABU DHABI / WAM The Central Bank of the UAE announced on Monday that it will cut interest rates, beginning March 16, following US Federal Reserve cuts to contain the economic repercussions of coronavirus. Following US Federal Reserve Board’s decision to cut the Federal Funds Rate at an emergency meeting to contain the repercussions of the global pandemic Covid-19, the ...