London / AFP Asian and European stock markets rallied on Thursday and energy-linked currencies advanced after OPEC’s shock deal to trim oil output. The announcement on Wednesday lit a fire temporarily under oil prices, sending petroleum-linked shares surging on Wall Street and later across Asian and European stock markets. Despite crude later falling back on doubts about the cartel …

  Dubai / Reuters Saudi Arabia’s stock market rebounded in afternoon trade on Thursday on the back of petrochemical stocks, which rallied in response to OPEC’s production deal to restrain output and prop up oil prices. The main Saudi index dropped as much as 1.0 percent in early trade, continuing a slide triggered by this week’s announcement of austerity measures …

  Mumbai / AFP Indian stock markets slumped almost two percent on Thursday after the army said it had conducted “surgical strikes” along the de-facto border with archrival Pakistan in Kashmir. The Bombay Stock Exchange slid 534.70 points, or 1.84 percent, to 27,770.32 in afternoon trade after India said it had carried out the strikes to thwart attacks on some …

  ABU DHABI / WAM In his capacity as Ruler of Abu Dhabi, President His Highness Sheikh Khalifa bin Zayed Al Nahyan has issued the Human Resources Law which regulates all matters concerning human resources from the appointment of the employee until the end of his service. The law will be enforced on civil servants in government entities of the …

  DUBAI / WAM Awqaf and Minors Affairs Foundation (AMAF) has signed a memorandum of understanding (MoU) with Dubai SME to strengthen emirate’s position in the entrepreneurship and waqf (religious endowment) sectors in a way that reflects positively on the economy and society at large. The MoU was signed by Tayeb Al-Rais, Secretary-General of AMAF and Abdul Baset Al Janahi, …

  OTTAWA / WAM HE Sultan bin Saeed Al Mansouri, UAE Minister of Economy, and Chrystia Freeland, Canadian Minister of International Trade, on Wednesday chaired the preparatory meeting of the first joint economic committee of the UAE and Canada in Ottawa, Canada. The meeting was attended by senior government officials from both countries, including Mohammed Ahmed Bin Abdul-Aziz Al-Shehhi, Under-Secretary …

  DUBAI / WAM A UAE company is set to design and build the first building in the UAE to be fully printed onsite, as well as to build the first 3D-printed laboratory building in the world. Dubai Electricity and Water Authority (DEWA) has awarded Convrgnt Value Engineering (LLC) the tender — announced last May — for the ground-breaking work. …

  Sharjah / WAM Foreign Direct Investment (FDI) leads not only to wealth in economic terms, but also builds a nation’s culture, art and literature, His Highness Dr Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, has said. Sheikh Sultan made the remark during his opening address at the second edition of the Sharjah Foreign Direct …

  Dubai / WAM The Convention Centre of the Jumeirah Beach Hotel in Dubai will be the focal point for the region’s premier franchise exhibition on October, 25-26. The event brings together local and international brands with products and services from over 90 companies alongside workshops and networking opportunities with special stands designed for ‘Meet the Buyer’ meetings. The Middle East …

  Abu Dhabi / WAM Abu Dhabi Ports (ADP) announced on Wednesday the signing of a container terminal concession agreement with Cosco Shipping Ports Limited – Abu Dhabi (CSPL SPV), a wholly-owned subsidiary of Cosco Shipping Ports Limited. Cosco Shipping Ports Limited is one of the leading container terminal operators in the world and a subsidiary of China Cosco Shipping Corporation …