ABU DHABI / WAM Frederick Kempe, President and CEO of the Atlantic Council, a nonpartisan organisation based in Washington, said the UAE has successfully attained a prominent stature in the global energy scene, due to its economic policy based on creating a balance between adopting environmental standards to address climate change and leveraging various energy sources. In his statement ...

  ABU DHABI / WAM Abu Dhabi Fund for Development (ADFD) participated in the inauguration of five colleges in Jordan, which were built with an ADFD funding of AED80.3 million. The initiative is part of the Jordanian Public Universities Development Programme that includes the implementation of 27 projects in the education sector at a total value of AED466 million to ...

  DUBAI / WAM Sudan celebrated its National Day at Expo 2020 Dubai through showcasing its rich culture, innovative solutions to global challenges and the opportunities presented to young people to build a promising future. Following the flag-raising ceremonies of both nations, Noura bint Mohammed Al Kaabi, Minister of Culture and Youth, welcomed Dr. Graham Abdelgadir, Sudan’s Minister of Culture ...

Bloomberg The UK government is preparing to step in and temporarily run Gazprom PJSC’s British retail supply arm as it comes under increasing pressure from companies turning their backs on Russian business over the war in Ukraine. Gazprom Marketing & Trading Retail Ltd is a prime candidate to be taken into the UK’s special administration regime if it fails, to ...

Bloomberg Thailand will freeze retail diesel prices and subsidise cooking gas prices for the low-income groups, part of a raft of measures unveiled to provide relief to consumers hit hard by soaring energy prices. Retail diesel prices will be capped at 30 baht ($0.9) a liter till the end of April, PM Prayuth Chan-Ocha told reporters after a cabinet meeting ...

“The language people speak in the corridors of power,” former Secretary of Defense Ashton Carter once observed, “is not economics or politics. It is history.” In a recent academic article, I showed how true this was after both the 9/11 terrorist attacks of 2001 and the “9/15” bankruptcy of Lehman Brothers in 2008. Policy makers used all kinds of historical ...

Hong Kong appears to have accepted defeat. Chief Executive Carrie Lam set out a blueprint for undoing the stringent social distancing measures and border curbs that severely curtailed residents’ daily lives for the past two years. Despite the government’s Covid-zero measures, 3.6 million of the city’s 7.3 million residents may have been infected. The statistic reflects badly on Hong Kong. ...

  Covid cases are on the rise in several European countries. Upticks are visible again in France, Italy and the UK. Infection rates in both Austria and Germany eclipse previous waves of the virus (based on cases per million). China is grappling with new highs in terms of case counts. The US may soon follow. This fifth wave of the ...

  Jerome Powell seemed to get the message across this time. After the most recent Federal Open Market Committee meeting, bond yields fell as he laid out an extremely hawkish agenda in his press conference. The conventional wisdom is that traders took Powell’s repeated insistence that the economy was strong enough to withstand repeated hikes as reason to be optimistic ...

  Bloomberg Boeing Co faces a new crisis after a 737 jet fell out of the sky in China, renewing concerns about its best-selling family of planes and extending one of the most turbulent periods in the aviation titan’s century-long history. The 737-800 aircraft operated by China Eastern Airlines Corp nose-dived into mountainous terrain with 132 people on board, prompting ...