Bloomberg This time, it may be more than just another false dawn for European bank stocks. The worst performers among Europe’s equity markets in past decade have had occasional hot streaks, but with this year’s re-emergence of inflation promising an end to an era of near-zero interest rates, the sector is among the biggest gainers in 2021. The Stoxx 600 ...

Abu Dhabi / WAM The UAE welcomed the decision of the Kingdom of Saudi Arabia to limit registration for this year’s Hajj pilgrimage to citizens and residents of the Kingdom, at a total of 60,000 pilgrims, in light of the Covid-19 pandemic. In a statement made on Saturday, Khalifa Shaheen Al Marar, Minister of State, said the UAE welcomes the ...

Dubai / WAM Dubai’s economy has proved its resilience and ability to recover quickly from the global repercussions of the Covid-19 pandemic by achieving high levels of external non-oil trade growth in Q1 2021. Dubai’s foreign trade this quarter touched AED354.4 billion growing 10% from AED323 billion in the corresponding period in 2020, and 5% compared to Q1 2019. This ...

Bloomberg Global oil demand will recover to pre-pandemic levels late next year, the International Energy Agency (IEA) predicted, urging Opec and its allies to keep markets balanced by tapping their plentiful spare production capacity. World consumption will once again reach 100 million barrels a day in the second half of 2022 as developed economies bring the virus under control, the ...

Bloomberg Group of Seven (G7) leaders debated how strongly to respond to China’s effort to win influence around the world and rebuke it over alleged forced labour practices — with US President Joe Biden taking a more hawkish stance and some other leaders wary of the risk the group is seen as an outright anti-China bloc. Saturday’s talks at the ...

Abu Dhabi / WAM Abu Dhabi Waste Management Centre (Tadweer) announced its plans to set up a dedicated facility for the treatment of fallen stock collected from the farms and ranches across the Abu Dhabi and its suburbs. The move comes as part of the centre’s continued efforts to develop the required infrastructure and sustainable solutions for the safe and ...

Dubai / WAM HH Sheikha Latifa bint Mohammed, Chairperson of the Dubai Culture & Arts Authority (Dubai Culture), expressed her confidence in the ability of committee and executive team members of the Al Quoz Creative Zone to work together effectively to develop the project in accordance with the high standards outlined in its project plan. She emphasised Dubai’s commitment to ...

Athens / WAM Bee’ah, the Middle East’s sustainability pioneer, and Polygreen, the Greek-owned company offering a total circular economy approach worldwide, on Saturday launched Evogreen, a joint venture that offers innovative marine and environmental management solutions, to promote a circular economy and sustainability. The newly established company tackles marine pollution through advanced waste management solutions to keep oceans pristine. By ...

ABU DHABI / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted 249,746 additional Covid-19 tests over the past 24 hours, using state-of-the-art medical testing equipment. In a statement, the ministry stressed its aim to continue expanding the scope of testing nationwide to facilitate the early detection of coronavirus cases and carry out the necessary treatment. As ...

Dubai / WAM Dubai Police’s Al Rashidiya Police Station issued 10,635 fines and warnings against violators of the announced precautionary measures against Covid-19 across the station’s jurisdiction area in 2020. The violations included 3,271 violations for not wearing facemasks in private and public transportation, 2,526 violations for failing to maintain social distancing in vehicles, 1559 violations for exceeding allowed number ...