Bloomberg A world-beating rally in Chinese stocks has turned into the biggest rout globally, shocking investors with the severity of its reversal and evading state efforts to slow the pace of losses. In just 14 trading days, the nation’s benchmark CSI 300 Index has plummeted 14% from a 13-year high. That compares with a 2.2% drop by the MSCI All-Country ...

Bloomberg European stocks edged higher with US futures on Wednesday as cyclical shares outperformed and the rally in the technology sector appeared to lose steam. The Stoxx Europe 600 Index swung between losses and gains as automakers, energy firms and banks led the gauge. The exception was mining stocks, which hit a three-week low amid declining iron ore prices. Just ...

ABU DHABI / WAM The announcement of the issuance of an operating licence for Unit 2 of the Barakah Nuclear Power Plant is another example of how the UAE continues to implement its mega development projects despite exceptional circumstances and challenges imposed by the outbreak of Covid-19. The Barakah project has taken the development path of the UAE to advanced ...

ABU DHABI / WAM Hub71, Abu Dhabi’s global tech ecosystem, is doubling down on scaling startups and enabling founders by introducing a value creation programme. Tech startups from around the world will benefit from increased access to market as Hub71 actively facilitates business opportunities to enable their sustainable growth, globally. Hub71 launches its programme by embarking on a four-month roadshow ...

Dubai / WAM In line with the directives of Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum, Dubai Crown Prince and Chairman of The Executive Council of Dubai HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum has ordered the extension of the freeze on Dubai government fees ...

DUBAI / WAM The Emirates Mars Mission (EMM), the first interplanetary exploration undertaken by an Arab nation, on Tuesday announced the completion of its commissioning and testing phase and its readiness for transition to its science orbit. The completion of testing is ahead of schedule and the transition to science manoeuvres will take place earlier than planned. “We have completed ...

Abu Dhabi / WAM Mohammed Thani Al Rumaithi, Chairman of the Federation of the UAE Chambers and Chairman of the Abu Dhabi Chamber of Commerce and Industry, has received Eitan Na’eh, Head of Mission at the Israeli Embassy in Abu Dhabi, at the Chamber’s premises in Abu Dhabi. During the meeting, both sides discussed means of developing trade relations between ...

DUBAI / WAM Dubai International Financial Centre (DIFC) on Tuesday reported the best performance in its 16-year history, reaffirming Dubai’s growing reputation across the global finance industry, the number of new firms operating in DIFC grew 20 percent, taking the total to 2,919. A total of 915 financial companies are now active in DIFC, up 24 percent from 735 in ...

Abu Dhabi / WAM The Emirates Mars Mission (EMM), the first interplanetary exploration undertaken by an Arab nation, on Tuesday announced the completion of its commissioning and testing phase and its readiness for transition to its science orbit. The completion of testing is ahead of schedule and the transition to science manoeuvres will take place earlier than planned. “We have ...

Mohammed Jalal Al Rayssi (Director-General of WAM) ABU DHABI The UAE Peaceful Nuclear Energy Programme is a catalyst for growth in the UAE, providing 25 percent of the country’s needs for clean electricity. This project generates further energy supplies to support the national economy, and its diversification creates thousands of job opportunities and contributes to the Emiratisation of modern technologies. ...