Bloomberg Speculative stocks had a rough day, as did Bitcoin and other cryptocurrencies. To some market-watchers, that’s no coincidence. The 100-day correlation coefficient of Bitcoin and the S&P 500 stands at 0.33, among the highest readings of the year. That means that when stocks move up, Bitcoin is likely to do the same, and vice versa. (A coefficient of 1 ...

ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, will be on an official visit to Turkey on Wednesday, at the invitation of President Recep Tayyip ErdoÄŸan. His Highness will discuss with the Turkish President the prospects of consolidating bilateral ties across various ...

Bloomberg Oil climbed, erasing an earlier loss, as a landmark plan from consumers to tap their strategic oil reserves was less severe than markets expected. Futures in New York wiped out losses to trade above $77 a barrel after Tuesday’s statement from the White House. While the headline size of the US release is large, a significant chunk of the ...

ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, received a phone call from the Italian Prime Minister, Mario Draghi. During the conversation, His Highness Sheikh Mohamed bin Zayed and Draghi discussed bilateral ties between the two friendly countries and ways to enhance ...

DUBAI / WAM The bilateral trade between Israel and Dubai has reached AED2.57 billion since the Abraham Accords was signed in September 2020, a senior Israeli diplomat told Emirates News Agency (WAM). “We have this huge amount of trade (even though) Israel was closed completely for foreigners, and sometimes for Israelis, too, up to November 1, because of Covid-19. It ...

DUBAI / WAM The Environmental Solutions vertical of Dulsco Group has launched an advanced Oil Re-Refinery Plant, the first of its type in the region. The facility, located at Jebel Ali, spans over 14,000 square metres. Progress within any industry comes at the expense of an unfortunate by-product ”Waste”. Progressively developing economies such as the UAE’s value sustainability as an ...

Abu Dhabi / WAM The Abu Dhabi SME Hub, a Khalifa Fund initiative, launched the “Access to Experts” programme, which will allow entrepreneurs to connect with leading industry mentors via the digital platform. Through the new programme, entrepreneurs will have access to a list of experts across three main themes: access to the Abu Dhabi market; business expertise, including design ...

Abu Dhabi / WAM Emirates Development Bank (EDB), a key financial enabler of the country’s economic diversification and industrial transformation agenda, has signed a Memorandum of Understanding (MoU) with the Abu Dhabi Fund for Development (ADFD). As part of this MoU, EDB will provide innovative financing and banking solutions, credit guarantees and joint lending for the beneficiaries of ADFD’s programmes ...

Abu Dhabi / Emirates Business Sanad, the global aerospace engineering and leasing solutions leader wholly-owned by Mubadala Investment Company PJSC (Mubadala), signed a memorandum of understanding (MoU) to collaborate with Next50, a joint venture between ADQ and G42, to develop technology-driven services solutions for the industrial services sector. The agreement was signed by Sanad Deputy Group CEO, Mansoor Janahi and ...

Abu Dhabi / WAM The Federal Authority for Identity, Citizenship, Customs and Port Security, and the National Emergency Crisis and Disasters Management Authority have updated the entry procedures through land borders for the citizens of neighbouring countries and those living in border areas, who are repeatedly entering and leaving the UAE. According to the updated procedures, all Gulf Cooperation Council ...