Paris / AFP A huge overhang in oil stocks lingering across the world will keep a cap on any further oil price rises, the IEA said on Tuesday, even as supply and demand move towards balance by the end of the year. Global demand for oil is steadily rising thanks to solid economic growth, and supply has been curbed by ...

  Bloomberg Abu Dhabi’s sovereign wealth fund, embroiled in a debt payment dispute with 1Malaysia Development Bhd., is seeking $6.5 billion from the troubled Malaysian state investment company as it moves the spat into arbitration. 1MDB and its sole shareholder —Malaysia’s Ministry of Finance—haven’t perform their obligations toward International Petroleum Investment Co. PJSC, the Abu Dhabi fund said in a ...

  Dubai / WAM The Roads and Transport Authority (RTA) signed a Memorandum of Understanding (MoU) with the Dubai Culture and Arts Authority, (Dubai Culture) calling for enhanced cooperation and partnership between the two entities in designing and constructing the Etihad Museum Project along with the new Pole for a flag hoisting 123 meters above the ground. Abdul Rahman bin Mohammed ...

  Dubai / WAM Emirates National Oil Company (ENOC) secured a $230 million unsecured loan from the Industrial and Commercial Bank of China Ltd (ICBC), one of China’s ‘Big Four’ state-owned commercial banks. The loan deal was agreed with the bank’s branch located at the Dubai International Financial Centre (DIFC), a statement said. The five-year loan is part of ENOC’s ...

  Dubai / WAM Dubai Chamber of Commerce and Industry’s Ethiopian International Office recently organised a roundtable in Nairobi, Kenya, which brought together representatives from the East African Community, EAC, to discuss and review opportunities for cooperation and investment in the agri-business industry for Dubai businesses and their East African counterparts. The 2nd East Africa and Dubai Agribusiness Roundtable meeting ...

  Vienna / WAM The UAE’s Federal Authority for Nuclear Regulation, FANR, last week presented to the international community the UAE’s plans for communicating with the public during a nuclear emergency. Fahad Al Bloushi, FANR Manager of Emergency Preparedness and Response, delivered the presentation in Vienna to the Eighth Meeting of the Representatives of Competent Authorities identified under the Convention on ...

  Abu Dhabi / Emirates Business The UAE Ministry of Economy (MoE) conducted on Tuesday an inspection of Ras Al Khaimah’s vegetable, fruit, poultry and meat market in line with its goal of protecting consumers, enforcing good commercial practices, and preventing exploitation and commercial fraud. Dr Hashim Al Nuaimi, Director of the Ministry’s Consumer Protection Department, led the visit which was ...

  Ajman / Emirates Business The Emirates Youth Council (EYC) organised a ‘Youth Circles’ workshop at The Pavilion, Al Zorah’s iconic sales centre, in the presence of Sheikh Abdullah bin Ahmed Al Nuaimi, Sheikh Abdullah bin Majid Al Nuaimi, Sheikh Majid bin Sultan Al Nuaimi and HE Shamma bint Suhail Faris Al Mazrui, Minister of State for Youth Affairs. Marwan Obaid ...

  Dubai / WAM Ohood bint Khalfan Al Roumi, Minister of State for Happiness, unveiled a Customer Happiness Formula to provide an effective tool for government employees to achieve the happiness goals under the UAE’s National Programme for Happiness and Positivity initiative. Addressing an introductory seminar organised by the Emirates Government Services Excellence Programme on the formula for federal bodies, Al ...

  Dubai / Emirates Business His Excellency Humaid Al Qatami, Chairman of the Board and Director-General of the Dubai Health Authority (DHA) received on Tuesday the Consul General of Italy in Dubai and representatives from the Gruppo San Donato University & Research Hospitals, Italy. HE Giovanni Favilli, Consul General of Italy in Dubai, headed the delegation and other representatives included ...