Bloomberg Investors should be more selective in the next six months as asset returns are likely to diverge because liquidity “cannot paper over specific weaknesses indefinitely,” according to JPMorgan Chase & Co. An “indiscriminate approach” to a portfolio would largely have worked in April and May, when most financial assets rallied — a typical result at a turning point in ...

Abu Dhabi / WAM The value of Emirati food products traded in the first quarter of 2020 totalled AED31.7 billion, according to the latest figures from the Federal Competitiveness and Statistics Authority. The figures also show that the value of the country’s food imports in the first quarter of this year amounted to AED17.98 billion while trade in medicines and ...

Bloomberg Saudi Arabia started a fund with an initial capital of $4 billion to develop its tourism industry as the oil-rich kingdom seeks to diversify its economy and attract more foreign travellers. The Tourism Development Fund will launch a range of equity and debt investment vehicles and has $45 billion in memorandum of understandings signed with private banks, according to ...

DUBAI / WAM Emirates NBD Capital Limited, the investment banking arm of Emirates NBD, announced that it has successfully closed Islamic Development Bank (IsDB’s) first ever USD Sustainability sukuk. The bank acted as Joint Lead Manager and Bookrunner for the landmark transaction by IsDB, rated Aaa/AAA/AAA by Moody’s/S&P/Fitch (each with stable outlook) The $1.5 billion, five-year sukuk is testament to ...

Dubai / WAM A series of reports from the Dubai Future Research, an initiative by the Dubai Future Foundation (DFF) anticipates the future of vital sectors in the aftermath of the ongoing global coronavirus crisis with several intelligence agencies worldwide exploring the adoption of Artificial Intelligence (AI) to counter cyber threats. In its eleventh “Life After Covid-19” report, the DFF, ...

Abu Dhabi / WAM The United Arab Emirates has expressed its support for the statements made by Egyptian President Abdul Fattah Al Sisi in Sidi Barrani on Sunday in Libya. The Ministry of Foreign Affairs and International Cooperation (MoFAIC) affirmed the UAE’s solidarity with the Arab Republic of Egypt in all measures taken to safeguard its security against alarming developments ...

ABU DHABI / WAM The Education and Human Resources Council, at a meeting chaired by HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, was briefed on the Ministry of Education’s plan and vision on the possibility of re-opening educational institutions across the country. During the meeting, Hussain bin Ibrahim Al Hammadi, Minister of Education, ...

BUCHAREST / WAM Virgil-Daniel Popescu, Minister of Economy, Energy and Business Environment of Romania, held a remote meeting with the UAE Ambassador to Romania, Dr Ahmed Abdullah Saeed Al Matroushi. During the meeting, they discussed economic issues of concern to the two friendly countries, ways to enhance cooperation in various economic fields, mutual investment, and the signing of an amendment ...

ABU DHABI / WAM Abu Dhabi School of Government (ADSG) announced the signing of a Memorandum of Understanding (MoU) with Sandooq Al Watan, the national social initiative that empowers the citizens and society of the UAE through the provision of opportunities for growth, to start working together to identify top talent and ensure they have access to many of the ...

Abu Dhabi / WAM The Integrated Transport Centre (ITC) of the Department of Municipalities and Transport in Abu Dhabi announced that public parking fees will be resumed starting from Wednesday, July 1 at 8 am. That is after the 3-month suspension of the fees in support of the society during this challenging period. ITC is offering m-Mawaqif service for the ...