Abu Dhabi / WAM The UAE’s direct non-oil trade recorded AED 269.5 billion during the first quarter of 2016, maintaining almost the same figures achieved in Q1 last year, said the Federal Customs Authority (FCA). FCA said its preliminary statistics show that imports, AED 166.1 billion, accounted for more than half of the UAE non-oil foreign trade during Q1 this ...

  Dubai / Emirates Business According to new research conducted by Frost & Sullivan in collaboration with GITEX Technology Week 2016, the next 10 years of augmented Reality (AR) and Virtual Reality (VR) technology development are set to redefine the future of both business and consumer processes and interactions in the region. GCC organisations are leveraging the new technology to ...

  Abu Dhabi / Emirates Business The Zayed Future Energy Prize had exceeded 10,000 entries over its nine cycles when submissions for the ninth annual awards closed on Monday, June 27. A record 1,678 entries were received this year, an increase of 12 percent on 2015. Nominations, accepted in the Large Corporation and Lifetime Achievement categories, account for 555 entries, ...

  Islamabad / WAM The UAE provided 116,177,794 million polio vaccines for Pakistani children aged under five from January 2014 to the end of May 2016 through the Emirates Polio Campaign, launched under directives from President His Highness Sheikh Khalifa bin Zayed Al Nahyan and as part of an initiative of His Highness General Sheikh Mohamed bin Zayed Al Nahyan, Crown ...

  Bloomberg A seventh straight week of gains in German bunds has pushed yields on securities of all maturities to unprecedented lows — leaving about $801 billion of debt out of the reach of the European Central Bank. The surge in sovereign debt since Britain’s vote to exit the European Union last month has pushed yields on about 70 percent ...

  Bloomberg Traders will be watching the Bank of England’s first policy meeting since the Brexit referendum for fresh reasons to sell the pound. Speculation is building that BOE Governor Mark Carney will use the Thursday gathering to follow up on his pledge to take whatever steps are necessary to spur the economy. The chances of the central bank cutting ...

  Bloomberg Russia raised 52.2 billion rubles ($816 million) from the sale of Alrosa PJSC, the world’s largest diamond miner, according to a person with knowledge of the deal, the country’s biggest privatization in three years marred by economic uncertainty. Shares were priced at 65 rubles a piece, the person said, a 3.8 percent discount to the stock’s Friday closing ...

  Bloomberg Russian government bonds suffered their worst weekly performance in six months after oil retreated and accelerating inflation raised concern the central bank will be forced to slow the pace of rate cuts. Five-year OFZ bonds had their biggest five-day drop since mid-January, driving the yield up 33 basis points. While debt fell, the ruble climbed with rising crude ...

  Bloomberg The Dunkirk liquefied natural gas terminal in France received its first cargo on Friday, boosting the nation’s import installations for the fuel to four, just as a wave of new supply hits the market. Madrid Spirit, a 285-meter-long tanker, delivered a commissioning cargo from Nigeria, Electricite de France SA, which owns 65 percent of the project known as ...

  London / AFP A wave of women are taking power in Britain: the country will soon have a female prime minister following the Brexit vote while Scotland and Northern Ireland already have women leaders. “Is this all a happy coincidence? Has the glass ceiling finally been smashed?” the Guardian newspaper asked this week. In the race to succeed David ...