ABU DHABI / WAM The Ministry of Foreign Affairs and International Cooperation has strongly decried the derogatory and racist statements made by caretaker Lebanese Foreign Minister, Charbel Wehbe, against the Kingdom of Saudi Arabia and other GCC States. The Lebanese ambassador to the UAE was summoned by the MoFAIC and handed over a note of protest denouncing the Lebanese minister’s ...

Dubai / WAM Emirates on Tuesday announced that it has signed a Memorandum of Understanding (MoU) with Huawei to further extend its existing partnership. The enhanced collaboration will allow both brands to build awareness to a wider audience in the Middle East and beyond. The agreement was signed at Arabian Travel Market 2021 (ATM) in Dubai by Orhan Abbas, Senior ...

Abu Dhabi / WAM The central bank of the UAE (CBUAE) imposed on April 18, an administrative sanction on S&S Brokerage House operating in the UAE, pursuant to Decretal Federal Law No. (14) of 2018 Regarding the Central Bank and Organisation of Financial Institutions and Activities (as amended by Decretal Federal Law No. (25) of 2020). The CBUAE found that ...

Abu Dhabi / WAM The Abu Dhabi National Oil Company (Adnoc), announced on Tuesday, an investment of up to $318 million (AED1.16 billion) to connect newly drilled smart wells to the main production facilities at Bu Hasa, which will sustain production capacity of 650,000 barrels per day (bpd) at Adnoc’s largest onshore asset. The engineering, procurement and construction (EPC) contract ...

Abu Dhabi / WAM Sheikh Zayed Book Award (SZBA) revealed its cultural programme for the 30th edition of the Abu Dhabi International Book Fair (ADIBF), which will be held between May 23 and 29. In advance of its participation at ADIBF, SZBA has revealed its cultural programme during the week of the fair, which will comprise panel discussions involving winners ...

SHARJAH / WAM Sharjah Economic Development Department (SEDD) implemented the directives of Sharjah Executive Council regarding the regulation of conducting economic activities through mobile vehicles and trucks in the emirate of Sharjah. Such thing falls within SEDD’s concerns to regulate and organise the economic sector in Sharjah at all levels through setting policies, standards, regulations, decisions and executive circulars in ...

Bloomberg Drivers encountering fuel shortages in parts of the US East and South may find it takes weeks before supply levels return to normal. Now that Colonial Pipeline Co has resumed deliveries that were halted for nearly a week by a cyberattack, the industry is facing a new logistics problem on top of the lack of available fuel: not enough ...

Bloomberg Adani Green Energy, majority-owned by Indian billionaire Gautam Adani, is in advanced talks to acquire privately-held SB Energy, according to people familiar with the matter. A deal could value SB Energy, owned by SoftBank Group Corp and Bharti Enterprises, at more than $650 million, said one of the people, who asked not to be identified as the information is ...

The rivalry between Southeast Asia’s leading super-apps just got more intense — and more intensely oriented towards fintech. Last month, Singapore’s Grab Holdings Inc said it’s going public in the US through the largest-ever merger with a blank-check company. And now, Indonesia’s Gojek is merging with e-commerce firm PT Tokopedia to create a digital behemoth in the world’s fourth-most-populous nation. ...

The future of money apparently looks something like this: Tesla Inc techno-king Elon Musk posts a one-word tweet — “Indeed” — that suggests his company may have sold its stash of Bitcoin. The cryptocurrency’s price sinks to a three-month low. Musk then posts a new tweet, clarifying that Tesla hasn’t sold any. Prices perk up again. Cue much gnashing of ...