Bloomberg The dollar sinks to its lowest level since May 2018 on concern that the world’s biggest economy will struggle to regain momentum amid a standoff over further virus relief and as infections continue to mount. The greenback has now erased most of the gains it built on the back of US-China trade tensions that started heating up around two ...

Bloomberg Oil jumped to a five-month high alongside a surge in US equities as optimism that an economic recovery may be on the horizon lifted hopes for improving fuel demand to follow. Equities in the US, Europe and Asia strengthened, with the S&P 500 Index approaching the highest in months, bolstered by fresh stimulus out of China’s central bank. A ...

Dubai / WAM Dubai International Financial Centre (DIFC) announced the launch of a new license for startups, entrepreneurs and technology firms. The new “Innovation License” will attract new types of businesses to the centre and is a key initiative for the Dubai Future District, which was announced in January, said a DIFC press release. The new license will support innovation, ...

Abu Dhabi / WAM The Integrated Transport Centre (ITC) of the Department of Municipalities and Transport announced that 140 new public buses will be operated in the emirate of Abu Dhabi aimed at improving the quality of services offered to the public transport sector users. In Abu Dhabi City, 112 buses will be operated and 28 buses will be operated ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, said that the top priority of the UAE’s economy is to be fastest recovering economy in the world, and to be the most stable and diversified economy on the long term. HH Sheikh Mohammed also said that the ...

Abu Dhabi / WAM His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Member of the Abu Dhabi Executive Council, Chairman of Abu Dhabi Executive Office, and Chairman of the Board of Abu Dhabi’s Advanced Technology Research Council (ATRC) led the first board meeting for ATRC, to set the R&D priorities for the emirate. ATRC is mandated to guide ...

Abu Dhabi / WAM The Abu Dhabi Investment Office (ADIO) and ADQ on Tuesday announced a new collaboration to further strengthen Abu Dhabi’s digital economy and start-up ecosystem, including transferring the Ventures Fund, a flagship Ghadan 21 initiative, to ADQ. As part of their collaboration, ADQ and ADIO will also create winning propositions for companies using a combination of equity ...

Dubai / WAM Dubai Customs Passenger Operations Department revealed that it has handled 10.2 million pieces of baggage for five million passengers through 44,358 Dubai-bound flights during the first half of this year. Thanks to the vigilance of customs officers with support from the sophisticated scanning equipment, as many as 472 seizure reports were issued during the same period, including ...

Abu Dhabi / WAM The Federal Authority for Identity and Citizenship (ICA) issued a decision to extend the amnesty granted by the President His Highness Sheikh Khalifa bin Zayed Al Nahyan, for violators of the Law on the Entry and Residency of Foreigners for three months effective August 18 through November 17 to enable them to leave the country and ...

Dubai / WAM Enoc group announced a partnership with Dynamic Fuels to become the official distributor of Enoc’s marine lubricants in Spain. The agreement comes as part of the group’s plans to bolster its international presence to cater to the needs of its international customers. Under the agreement, Dynamic Fuels will market and distribute Enoc group’s wide range of marine ...