Bloomberg At first glance, the weakness in South Korea’s won is an anomaly. Risk appetite is picking up but the currency is heading south. The won, which is susceptible to swings in global sentiment, has dropped almost 2% versus the dollar since the start of the year. It’s underperforming all its emerging Asian peers just as global growth bets are ...

ABU DHABI / WAM Economic and commercial activities in the UAE continued their positive run in the first half of February 2021, reflecting the growing confidence of local and foreign investors in the national economy. Recent statistics issued by the National Economic Register showed that over 4,300 new licences for economic and commercial activities around the country were issued in ...

DUBAI / WAM The Ministry of Energy and Infrastructure has revealed that it is implementing 129 development projects worth approximately AED11.8 billion, as part of the ministry’s five-year plan (2018-2023). Hassan Mohammed Juma Al Mansouri, Under-Secretary of the Ministry of Energy and Infrastructure, told the Emirates News Agency (WAM), that the nationwide developments include constructing 70 government buildings at a ...

ABU DHABI / WAM The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has signed a cooperation agreement with Tel Aviv Chamber of Commerce (TACC), represented by the Federation of Israeli Chambers of Commerce, during a virtual meeting, to increase trade cooperation in a number of business-related sectors. According to the agreement, both sides will jointly work to extend bridges ...

ABU DHABI / WAM The UAE has strongly condemned the terrorist attack that targeted various areas in Iraq’s Kurdistan region and killed several innocent people and injured others. In a statement, the Ministry of Foreign Affairs and International Cooperation stressed that the UAE strongly condemns these criminal acts and fully rejects all forms of violence and terrorism aimed at destabilising ...

Bloomberg Oil held gains in New York after rising above $60 a barrel for the first time in a year as a deepening energy crisis in the US disrupted crude production and forced the shutdown of some of the nation’s biggest refineries. As much as 1.7 million barrels a day of oil output has halted and deliveries via pipeline suspended ...

N’DJAMENA / WAM Sheikh Shakhbut bin Nahyan bin Mubarak Al Nahyan, Minister of State, has met with President Idriss Deby Itno of Chad, on the sidelines of the two-day seventh regular session of Heads of State of the G5 Sahel summit in the Chadian capital N’Djamena. During the meeting, the two sides reviewed bilateral relations and ways to further develop ...

VIENNA / WAM The OPEC Fund for International Development (OFID) has signed a $20 million public sector loan agreement with Kenya to increase regional connectivity, enhance trade and improve the socio-economic welfare of about 1.6 million people. The loan will finance the upgrading of the 90 km Samatar – Wajir Road, a part of the North and North-Eastern Development Initiative ...

ABU DHABI / WAM Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology; and Abdulla Shahid, Minister of Foreign Affairs of the Maldives, and Mariam Hareb Almheiri, Minister of State for Food Security, co-chaired the ministerial meeting of the inaugural UAE-Maldives joint committee on Tuesday. During the meeting, both sides discussed a number of issues of interest ...

ABU DHABI / WAM Abu Dhabi University (ADU) has entered into a strategic partnership with Advanced Cure Diagnostic Centre (ACDC), following the signing of a Memorandum of Understanding (MoU). Founded in 2007 as a comprehensive ambulatory care unit with over a dozen specialities, the ACDC is home to leading physicians across a variety of medical fields. The MoU promotes ties ...