ABU DHABI / WAM Abu Dhabi Fund for Development (ADFD), the leading national entity for economic development aid, commended the opening of a major infrastructure project – Maafaru International Airport, located on one of the islands of the Noonu Atoll in the Maldives. To support the strategic objectives of the Government of the Maldives, ADFD contributed AED191 million ($52 million) …

Bloomberg President Donald Trump added to the criticism of the World Bank’s plan for low-interest loans to China. “Why is the World Bank loaning money to China?” Trump said in a Twitter post. “Can this be possible? China has plenty of money, and if they don’t, they create it. STOP!” His tweet came a day after Treasury Secretary Steven Mnuchin, …

Bloomberg Oil in New York posted the biggest weekly gain since June after Saudi Arabia surprised the market with a significant supply cut beyond what was agreed to with fellow Opec+ members. WTI settled 1.3% higher after Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said the country would continue its voluntary cut of 400,000 barrels a day. That brings …