Bloomberg Oil held near $50 a barrel in New York on signs that the Organisation of Petroleum Exporting Countries (Opec) and its allies probably won’t go ahead with an emergency meeting, even as a global oversupply piles up. While the coalition’s technical experts have recommended a production cutback as Asia’s coronavirus batters demand, Azerbaijan’s Energy Minister Parviz Shahbazov told the ...

Bloomberg NMC Health Plc, the operator of the biggest network of hospitals in the UAE, said its chairman will be removed from board discussions after he said he may have misreported the size of his stake. Chairman Bavaguthu Raghuram Shetty is conducting a legal review into the size of his stake, NMC said on Monday. The company is asking its ...

DUBAI / WAM Aramex announced its financial results for fourth quarter and full year (FY), ending December 31, 2019. According to a press statement issued by Aramex on Monday, full year 2019 revenue increased by 3 percent to AED5,246 million, compared to AED5,086 million in FY 2018. FY 2019 net profit increased 1 percent to AED497.4 million, compared to AED492.6 ...

Abu Dhabi / WAM Etihad Cargo, the cargo and logistics arm of Etihad Aviation Group, on Monday announced inking a new partnership for Digital Air Cargo with WebCargo by Freightos to expand digital air cargo reach. The WebCargo partnership extends Etihad Cargo’s digital reach to more than 1,700 logistics providers and forwarder customers globally, with the platform serving as an ...

WAM / Emirates Business A whopping 65 per cent of Indians living outside their country have made the six Gulf Cooperation Council (GCC), states their expatriate home, the Lok Sabha, the lower House of Indian Parliament was informed during its ongoing budget session. Of these six GCC states, the UAE tops the list as home to the largest number of ...

ABU DHABI / WAM The central bank of the UAE (CBUAE), announced on Monday that it would develop a new consumer protection framework in line with its mandate. In a statement, the central bank said the decision is within the realms of Federal Decree Law No. 14 of 2018 regarding the central Bank and Organisation of Financial Institutions and Activities, ...

Abu Dhabi / WAM Edge, the advanced technology group for defence and beyond, on Monday announced that it received in excess of 9,000 applications for over 400 jobs following its participation at Tawdheef 2020. From the close of the event, operating with speed and transparency, Edge shortlisted, contacted and set up interviews with over 1000 candidates within two working days. ...

DUBAI / WAM DMCC, the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise, signed a strategic membership agreement with Al Khaleej Sugar and Universa Blockchain that sees DMCC trade flow support the development of a new sugar trading platform in the emirate. The platform under development will enable traders to purchase, store, and trade ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior, on Monday attended the UAE SWAT Challenge 2020. The challenge was organised by the Ministry of Interior, in ...

ABU DHABI / WAM ‘The Exchange’, a new social innovation space at Yas Mall, by the Authority of Social Contribution (Ma’an), was opened to the public on Monday revealing a packed programme of international speakers, CSR and university workshops as well as family-friendly activities for the community. Dr. Mugheer Al Khalil, Chairman of the Department of Community Development – Abu ...