ABU DHABI / WAM Abu Dhabi National Oil Company (Adnoc), the State Oil Company of Azerbaijan (SOCAR) and TotalEnergies on Friday announced a strategic transaction that will see ADNOC acquire a 30% equity stake in the Absheron gas and condensate field in the Caspian Sea. Adnoc’s investment into the Caspian region aims to create a substantial growth position as it ...

ABU DHABI / WAM Chinese media will actively participate in the upcoming Global Media Congress in Abu Dhabi, which will explore the media of the new era and convey the common values and ideals of humankind through technology, innovation, and win-win collaboration, a top Chinese diplomat told the Emirates News Agency (WAM). “China strongly supports the UAE in successfully holding ...

LIMA / WAM Mohammed Abdullah Al Shamsi, the UAE ambassador to the Republic of Peru, has attended a reception hosted by Dina Boluarte, President of Peru, at the Presidential Palace on the occasion of Peru’s Independence Day. Al Shamsi conveyed the greetings of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, His Highness Sheikh Mohammed bin Rashid Al Maktoum, ...

HO CHI MINH CITY / WAM Vietnam’s stock market is witnessing the fastest and strongest recovery since the beginning of this year, as the VN-Index has surpassed the threshold of 1,200 points, state news agency (VNA) reported. Most stocks have risen significantly compared to the end of 2022, and the list of enterprises with a capitalisation over $10 billion expanded. ...

BLOOMBERG Stock futures rose and bond yields wavered after data showing labour-market softening reinforced speculation the Federal Reserve will have room to skip an interest-rate hike in September. After swinging between gains and losses, S&P 500 contracts pushed higher. Treasury two-year yields, which are more sensitive to imminent Fed moves, were little changed alongside the dollar. US employment increased at ...

SHARJAH / WAM Arada has awarded a major contract to build Nasaq District, a cluster of six upscale apartment buildings located within the master plan of Sharjah’s largest mixed-use community, Aljada. Valued at AED395 million, the contract to build Nasaq District was awarded to Gulf Asia Contracting Company LLC (GAC). Construction work on Nasaq Distict will begin immediately and is ...

ABU DHABI / WAM Saeed Ghumran Al Remeithi, Group CEO of Emirates Steel Arkan, said the group’s financial performance in the first half of 2023 was successful despite the industrial sector’s challenges. He attributed the company’s success to a rise in demand from local markets, which accounted for 55 percent of the company’s iron sales. In his statement to the ...

ABU DHABI / AD Media His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of Abu Dhabi Executive Council, has inaugurated the 4th IMMAF Youth World Championships, being held in Abu Dhabi under His Highness’ patronage from August 2-5 at Mubadala Arena in Zayed Sports City. His Highness presented medals to the ...

UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan, said on Twitter, “The 9th anniversary of the crimes committed by the Daesh terrorist group against the Yazidis and others in Iraq is a painful reminder of the importance of embracing peaceful coexistence and rejecting all forms of discrimination based on religion or sect or ethnicity.”

BLOOMBERG The Bank of Japan (BOJ) came into the market for the second time to slow gains in benchmark sovereign bond yields, underscoring its determination to curb sharp moves in rates even as it makes room for them to rise. The buying operation also highlighted the challenge investors face interpreting a rates regime that is built on gray lines to ...