HODEIDAH / WAM The UAE, through its humanitarian arm, the Emirates Red Crescent (ERC), on Wednesday launched a strategic water project in Qataba in the Khawkhah District, Hodeidah Governorate, as part of its efforts to respond to the needs of people in Yemen’s Red Sea Coast. Mohamed Al Junaibi, Director of Humanitarian Affairs at the ERC in Yemen, stated that …

ABU DHABI / WAM The UAE and Saudi Arabia allocated 540,000 tonnes of wheat to the Sudanese people, meeting the population’s ba-sic food requirements for thr-ee months, announced Abu Dhabi Fund for Development (ADFD) on Wednesday. ADFD Director-General Mohammed Saif Al Suwaidi said, “The food security support provided to the Sudanese people is in line with the wise directives of …

Bloomberg US technology companies would pay an additional $1 billion a month or more in tariffs if President Donald Trump follows through on his threat to impose duties on additional Chinese imports next month, a trade group said. Trump said last week that he plans to add a 10 percent tariff on essentially all remaining Chinese imports — a category …

Bloomberg Gold futures rallied above $1,500 an ounce on sustained demand for the traditional haven as the US-China trade war festers, global growth slows and central banks around the world ease monetary policy. The metal advanced 2.6 percent an ounce on Comex to highest since 2013. The move extends this year’s climb to 18 percent, with gains underpin-ned by inflows …

Bloomberg Oil plunged, re-entering bear-market territory, as central banks cut interest rates around the world, feeding into an increasingly dismal economic view. Futures in New York fell as much as 4.2% on Wednesday to the lowest in almost two months. Crude was swept up in a global meltdown of stock and commodity markets after rate cuts in New Zealand, India …

Bloomberg Sterlite Power Grid Ventures Ltd., one of India’s biggest private transmission companies, sees a $35 billion investment opportunity into grid-connected energy storage projects in the country over the next decade to support government renewables targets. Chief Executive Officer Pratik Agarwal said he expects central and state governments to issue battery tenders totaling several gigawatts of capacity by no later …

Bloomberg Glencore Plc reported the weakest profit in three years and announced plans to halt about a fifth of the world’s cobalt production after prices for the battery metal plunged. Glencore will shutter Mutanda project in the Democratic Republic of Congo for about two years in a move to put a floor under cobalt market, which has seen prices fall …

Bloomberg US equity futures extended a rebound and European stocks rallied as markets continued to recover from a brutal selloff at the start of the week. Caution was on display, however, as bonds gained while currencies were roiled by a series of dovish central-bank moves in Asia. Futures on all three major US benchmarks turned higher following a surge in …

Bloomberg Canadian stocks played catch up with a global rout following August 5’s holiday, with the nation’s benchmark falling the most this year before paring losses. The S&P/TSX Composite Index fell 0.8 percent, extending its slump for a sixth straight session — its longest losing streak since September 10. Energy stocks were the biggest decliners on the benchmark as the …

Bloomberg South Korean equities overtook those of Malaysia to become the world’s worst major equity market for the year as ongoing trade war with Japan and tensions between the US and China slashed the nation’s earnings outlook. The benchmark Kospi Index has dropped 6.1 percent year-to-date compared with 5.1 percent decline in the FTSE Bursa Malaysia KLCI Index in Singapore. …