BLOOMBERG Oil held a hefty loss after Federal Reserve Chair Jerome Powell signalled interest rates could rise higher and faster than previously anticipated, raising concerns about the economy and energy demand. West Texas Intermediate futures edged lower near $77 a barrel after posting the biggest one-day decline since early January. The remarks, made during a testimony before Congress, opened the …

AL AIN / WAM Silal, Abu Dhabi’s leading food, agriculture, and technology company, has announced that its state-of-the-art automated packhouse in Al Ain will deliver up to 216 tonnes of fresh produce daily and will be the largest of its kind in the UAE. Covering an area spanning 14,000 square metres, Silal’s automated packhouse includes a 4,930 square metre grading …

ABU DHABI / WAM The Abu Dhabi Department of Economic Development (Added) and Tawazun Industrial Park, established by Tawazun Council, have signed a memorandum of understanding to boost industrial sector’s competitiveness and further develop it by implementing initiatives and programmes of the Abu Dhabi Industrial Strategy (Adis). The agreement was signed by Arafat Al Yafei, Executive Director of Added’s Industrial …