Bloomberg US-listed Chinese stocks rallied for a third day after China approved a second batch of video games this year, marking a further softening in the country’s stance towards internet firms. The Nasdaq Golden Dragon China Index gained 5.7%, hitting a three-month high and extending an 8.9% rally across the previous two sessions. Tech giant Alibaba Group Holding Ltd. ...

  ABU DHABI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, affirmed that the UAE begins a new era of prosperity and growth, under the leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan. HH Sheikh Mohammed added that the vision of the UAE ...

  Bloomberg Oil extended gains from the highest close in three months as the US summer driving season ramps up and China emerges from virus lockdowns. West Texas Intermediate futures rise above $120 a barrel, trading near a three-month high. Inventories at the nation’s biggest storage hub at Cushing, Oklahoma, falls 1.59 million barrels last week, according to an Energy ...

  Abu Dhabi / WAM The Ministry of Human Resources and Emiratisation announced the start of mid-day break for labourers at project, construction sites from 12:30 until 15:00 from June 15 to September 15. An administrative fine will be imposed on establishments that violate midday break amounting to AED5,000 for each worker and a maximum of AED50,000 in case multiple ...

  Sharjah / WAM Abdulaziz Ahmed Al Shamsi, Director-General of the Sharjah Real Estate Registration Department, said that Sharjah’s real estate sector is seeing considerable growth, thanks to the great support shown by HH Dr Sheikh Sultan bin Muhammed Al Qasimi, Supreme Council Member and Ruler of Sharjah. In his statement to the Emirates News Agency (WAM), Al Shamsi noted ...

  Abu Dhabi / WAM Abu Dhabi Global Market (ADGM) and First Abu Dhabi Bank (FAB) have signed a memorandum of understanding (MoU) to further support the growth needs of the commercial and financial community in Abu Dhabi. The MoU aims to increase collaboration between ADGM and FAB and initiate preferential banking services, such as fast and efficient bank account ...

  Dubai / WAM Ahmed Mohamed Al Naqbi, Chief Executive Officer of Emirates Development Bank (EDB), has called on the local and regional banking community to increase access to corporate finance and accelerate the UAE’s economic recovery. Speaking on the opening day of Bonds, Loans & Sukuk Middle East 2022, Al Naqbi highlighted the role of financial markets in driving ...

  Sharjah / WAM Arada has launched Robinia, the third phase of its Sharjah woodland community Masaar. The launch of the 565 villas and townhouses in Robinia has been brought forward after the first two residential phases at Masaar both sold out. Valued at AED8 billion and containing 4,000 homes spread over eight gated districts, all linked by a “green ...

  Dubai / WAM Dubai Electricity and Water Authority (Dewa) is increasing the storage capacity of desalinated water in Dubai to enhance water security. Dewa is building three water reservoirs in different parts of Dubai. The water reservoirs will include one in the Nakhali area with a storage capacity of 120 MIG and investments totalling AED287.8 million, one in the ...

  SHARJAH / WAM Arada has launched Robinia, the third phase of its Sharjah woodland community Masaar. The launch of the 565 villas and townhouses in Robinia has been brought forward after the first two residential phases at Masaar both sold out. Valued at AED8 billion and containing 4,000 homes spread over eight gated districts, all linked by a “green ...