ABU DHABI / WAM Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy, said that the UAE supports any initiative to freeze the oil production ceiling by consensus of the members of the Organisation of Petroleum Exporting Countries, OPEC, and Russia. Several OPEC-member countries and others have recently agreed to freeze production at last January’s levels in a move …

Paris / AFP The OECD on Thursday cut its 2016 economic growth forecast to 3.0 percent from 3.3 percent owing to disappointing data, sluggish demand, weak investment and a high risk of financial instability. “Financial instability risks are substantial,” the 34-member Organisation for Economic Cooperation and Development said in its latest interim outlook, urging a strong collective response to combat …

Cairo / WAM Sultan bin Saeed Al Mansouri, Minister of Economy of the UAE, has called for stronger joint pan-Arab economic action to counter current challenges, eliminate obstacles to intra-Arab trade and investment and speed up innovation and creativity to achieve economic diversification, development and prosperity. The UAE takes great interest in the issues of joint Arab action as a …