Bloomberg Norway’s sovereign wealth fund, the world’s biggest, returned 4%, or 382 billion kroner ($45.7 billion), in the first quarter after gains in its stock portfolio made up for bond losses. “The rise of the equity market was to a great extent driven by the finance and energy sector,” Deputy Chief Executive Officer Trond Grande said in a statement on ...

ABU DHABI / WAM The central bank of the UAE (CBUAE) has extended integral parts of its Targeted Economic Support Scheme (TESS) until mid-2022. Financial institutions will continue to be eligible to access the collateralised AED50 billion zero-cost liquidity facility up to June 30, 2022, to provide new loans and financing to individuals, small and medium-sized enterprises, and other private ...

DUBAI / WAM Dubai Aerospace Enterprise (DAE) on Tuesday announced that it had entered into an agreement to acquire 15 Boeing 737 Max 8 aircraft. The order is valued at approximately $1.8 billion at list prices. Firoz Tarapore, Chief Executive Officer of DAE, said, “We are delighted to deepen our already strong relationship with Boeing. Including this order, we own ...

ABU DHABI / WAM Abu Dhabi Islamic Bank (ADIB) has donated AED1 million to provide one million meals in the region’s largest food donation campaign ‘100 Million Meals.’ Launched on April 11, the ‘100 Million Meals’ campaign aims to provide food parcels for disadvantaged individuals and families across 30 countries in the Middle East, Asia, Africa, Europe and South America ...

ABU DHABI / WAM The UAE has condemned the Iran-backed Houthi terrorist militias’ systematic attempts to attack civilians and civilian objects in Khamis Mushait, Saudi Arabia, with an explosive drone intercepted by the Coalition Forces. In a statement released by the Ministry of Foreign Affairs and International Cooperation (MoFAIC) on Tuesday, the UAE reiterated that these systematic terror attacks by ...

Bloomberg Oil jumped above $64 a barrel, a year to the day after futures for the US benchmark collapsed below zero, with the world’s most important commodity extending a powerful rally on bets for better demand. West Texas Intermediate advanced 1.3%, adding to Monday’s modest climb as the dollar weakened, while production in Libya fell below 1 million barrels a ...

Dubai / WAM After the success of She Leads, Creative Zone and the Dubai Business Women Council launched the second phase of their integrated accelerator programme, She Leads 2.0. In the first phase of the accelerator, 100 women participated in the 12-week online learning programme that helped them achieve possible solutions to the many barriers women face when starting and ...

ABU DHABI / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted 192,238 additional Covid-19 tests over the past 24 hours, using state-of-the-art medical testing equipment. In a statement on Tuesday, 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 ...

Abu Dhabi / WAM Etihad Airways, the national carrier of the United Arab Emirates, has begun trial of the Iata Travel Pass app to manage passengers’ travel health credentials from Abu Dhabi to Chicago, New York, Washington and Toronto, until May 31. Mohammad Al Bulooki, Chief Operating Officer, Etihad Aviation Group, said, “With the dynamically changing health requirements for travel, ...

Dubai / WAM Dubai Chamber of Commerce and Industry in cooperation with Family Business Council Gulf (FBCG) hosted a webinar, which offered valuable insight on the changing dynamics of family businesses in Dubai, common conflicts that can arise and practical steps that can be taken to address them. The virtual event, attended by nearly 50 participants representing family businesses in ...