Bloomberg Oil extended gains, following Monday’s rally on optimism that a potential Covid-19 vaccine could boost a recovery in transport demand. Crude futures in New York approached $41 a barrel, after advancing more than 10% at one point. It comes after early findings showed that a vaccine developed by Pfizer Inc. and BioNTech SE protects most people from the virus. ...

Abu Dhabi / WAM The Ministry of Finance (MoF) announced on Tuesday that from the beginning of January until the end of August 2020, the total value-added tax (VAT) revenue amounted to AED11.6 billion, and the country’s total excise tax revenue amounted to about AED1.9 billion – the latter noting a 47 percent increase in comparison to the same period ...

Dubai / WAM Emaar Malls, the developer of premium shopping malls and retail assets including The Dubai Mall, majority-owned by Emaar Properties, reported revenue of AED2.493 billion for the first nine months of 2020 (January to September). Emaar Malls reported net profit of AED586 million for the period ending September 30, despite the challenges posed by Covid-19. With the footfall ...

Abu Dhabi / Emirates Business National Takaful Company (Watania) announced positive financial results in nine month during the financial of 2020, as the company’s net profits are up by 78% compared to corresponding period last year. The company achieved net profit of AED 17.8 million in nine month during the financial year 2020 as against AED 10.0mn in nine months ...

Abu Dhabi / WAM Abu Dhabi has unveiled the Technology Innovation Institute (TII) the dedicated applied research pillar of the Advanced Technology Research Council (ATRC) committed to reinforcing Abu Dhabi and the UAE’s status as a global hub for innovation and advanced technologies. The institute aims to deliver discovery science and breakthrough technologies that have a global impact. It is ...

Abu Dhabi / WAM Dr Hilal Humaid Al Kaabi, Secretary-General of the Abu Dhabi Quality and Conformity Council, QCC, affirmed the services provided by the Construction Materials Laboratory of the Abu Dhabi Quality and Conformity Council contributed to boosting the efficiency and quality of the materials used in building and construction works. He also stated that the collaboration project with ...

Dubai / WAM Jebel Ali Port, DP World’s flagship port handled over five million metric tonnes of metal, steel and construction materials in 2019. At an average, the port has handled around 4.5 million TEU from 2010 to 2019, which equates to 1 billion metric tonnes until 2019. Over 50 million metric tonnes of general cargo has been handled from ...

NIAMEY (Niger) / WAM The Emirates Red Crescent (ERC) inaugurated the “Al Medina Village” in Niger, under the framework of its development initiatives in the west country. With the follow up of HH Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region and ERC Chairman, the ERC’s projects in Niger aims to strengthen the efforts of the ...

President Donald Trump’s petulant decision to fire Defense Secretary Mark Esper, via Twitter of course, was both shocking and predictable. It’s shocking that a president who just lost an election would fire a member of his cabinet at the start of what is supposed to be a peaceful transfer of power. Then again, that president is Trump and that defense ...

Hopes for a Covid-19 vaccine breakthrough by the holidays have never been higher, with Pfizer reporting that its vaccine prevented 90% of infections in trials. A vaccine should be available in early 2021 — or possibly earlier — if Pfizer and other strong candidates continuing large-scale clinical trials around the world receive an emergency use authorisation. The big question is ...