Abu Dhabi / WAM The UAE ranked 27th globally in attracting foreign direct investment (FDI) flows in 2018, according to the United Nations Conference on Trade and Development’s World Investment Report 2019, three positions up from its 2017’s classification by UNCTAD. Overall, the report said, the UAE received in 2018 direct foreign investments of more $10.4 billion, maintaining lead as ...

Bloomberg Saudi Arabia is working to balance global oil markets this year, the country’s energy minister said when asked if there’s an impending surplus. The comments come a day after the International Energy Agency forecast global supplies will expand far more than demand next year, putting further pressure on Opec. Saudi Arabia and its allies, including Russia, are expected to ...

ABU DHABI / WAM The UAE Cabinet adopted formation of the Advanced Skills Council under the chairmanship of Dr Ahmad bin Abdullah Humaid Belhoul Al Falasi, Minister of State for Higher Education and Advanced Skills, to oversee relevant policies, programmes and initiatives. The council will support and oversee the implementation of the recently approved Strategy for the Advanced Skills National ...

Bloomberg Oil posted a weekly decline as the escalating US-China trade war and swelling American stockpiles overshadowed tanker attacks in the Middle East. Futures settled up 0.4 percent in New York but still closed the week down 2.7 percent. London-traded contracts slid for a fourth straight week. The White House blamed Iran for tanker attacks near the Strait of Hormuz, ...

ABU DHABI / WAM Dr Amal Abdullah Al Qubaisi, Speaker of Federal National Council (FNC), received the Secretary-General of the European External Action Service (EEAS) Helga Maria Schmid, at the FNC headquarters. During the meeting, they discussed cooperation between the UAE and European Union (EU) in a number of areas in view of the existing partnership between the two sides ...

Dubai / Emirates Busines The rate of growth in total non-oil private sector business activity in Dubai accelerated for the fourth time in the first five months of 2019, according to Emirates NBD Dubai Economy Tracker Index. The composite indicator designed to give an overview of operating conditions in the non-oil private sector rose to a 52-month high of 58.5 ...

Abu Dhabi / WAM The Abu Dhabi Department of Education and Knowledge (Adek), has begun implementing the Education Partnership Schools (EPS), programme, which creates charter schools funded by the government and run by the private sector. The EPS programme is one of the initiatives launched by the Abu Dhabi Government Accelerators Programme “Ghadan 21” under its social pillar, which will ...

Dubai / WAM Dubai’s Roads and Transport Authority (RTA), participated in the 63rd UITP Global Public Transport Summit held in Stockholm, Sweden under the theme “Art of Public Transport”. Mattar Al Tayer, Director-General and Chairman of the Board of Executive Directors of the RTA, headed RTA’s delegation at the event. The summit, which takes place every two years, was a ...

ABU DHABI / WAM As part of its plan to modernise work mechanisms in the federal government, the UAE Cabinet has restructured the Board of Directors of the Emirates Development Bank (EDB). The eight-member board will be chaired by Obaid bin Humaid Al Tayer, Minister of State for Financial Affairs, and will serve a three-year term. The EDB was established ...

ABU DHABI / Emirates Business Etisalat on Saturday announced the launch of ‘Roam Like Home’ (RLH) services that enable Freedom postpaid customers to continue enjoying local allowances while travelling outside the country. With Etisalat’s new roaming options, customers can enjoy a seamless roaming experience. Freedom postpaid customers can choose from Data only at AED100, Voice only at AED200, and Voice ...