June, 2021

• 8 June

  Treasuries, dollar gain amid inflation caution

  

  Bloomberg Treasuries rise with the US dollar as investors debated the impact of resurgent inflation on monetary policy, while US index futures stalled with stocks near record highs. The 10-year yield falls back to 1.56% area with focus turning towards Thursday’s consumer-price data that may offer clues on how far the Federal Reserve can postpone a tapering of stimulus. Futures ...

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• 8 June

  Mohamed, Congolese president review regional developments

  

  ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and President of the Democratic Republic of the Congo, Felix Tshisekedi, reviewed the prospects of growing economic, trade and investment cooperation between the two friendly nations. This came in a phone call His Highness ...

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• 8 June

  Oil slips after hitting $70 with bumper rally starting to cool

  

  Bloomberg Oil slipped after touching $70 a barrel in New York for the first time since October 2018 as a rally driven by signs of a tightening market eased. Futures jumped 5% last week but were unable to rise beyond $70 on Monday. Europe’s cities are as congested as they were in 2019, and the number of passengers passing through ...

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• 8 June

  Saudi Aramco hires banks for debut dollar sukuk sale

  

  Bloomberg Saudi Aramco, the world’s biggest energy company, hired advisers including Citigroup Inc and Goldman Sachs Group Inc for its first dollar-denominated Islamic bond sale. The state-controlled company may offer three tranches of notes due in three, five and 10 years, according to a person familiar with the matter. The firm is raising cash to help fund its commitment to ...

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• 8 June

  UAE sends 960 tonnes of food, medical supplies to Gaza Strip

  ABU DHABI / WAM The UAE, through its humanitarian arm, the Emirates Red Crescent (ERC), sent on Monday 960 tonnes of urgent medical and food items to alleviate the humanitarian repercussions for about 20,000 families in the Gaza Strip. Implementing the directives of the Emirati leadership, the UAE sent 33 shipments through the Rafah Border Crossing, as part of the ...

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• 8 June

  UAE among top 20 countries in 13 transport indexes in 2020

  

  ABU DHABI / WAM Five organisations that specialise in gauging global competitiveness have ranked the UAE among the top 20 countries 2020 across 13 indexes related to transport, adding to the country’s track record in this sector. The UAE has been making tireless efforts to drive its sustainable development while also preserving the environment. The UAE Vision 2021 comprises guidelines ...

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• 8 June

  Emirati-founded tech startup Boksha raises $1m seed fund

  

  DUBAI / WAM Boksha, an Emirati-founded tech startup, has secured $1 million from a group of investors, which includes Sandooq Al Watan and family offices. Founded in 2018, the platform is the largest online marketplace for independent fashion designers in the region offering Khaleeji themes. This is the company’s first raise; it has bootstrapped itself since then to offering over ...

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• 8 June

  Air Arabia launches new service to Phuket

  SHARJAH / WAM Air Arabia has announced the introduction of a new service to Phuket, Thailand, with direct flights from Sharjah International Airport starting on July 02. Air Arabia is the first low-cost carrier in the region to launch a direct route to Phuket. The Tourism Authority of Thailand has confirmed that travellers who have been vaccinated against Covid-19 from ...

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• 8 June

  S&P assigns ‘AA-’ issuer rating to EDB with outlook stable

  

  Abu Dhabi / WAM S&P Global Ratings has assigned ‘AA-‘ long-term issuer credit rating with stable outlook to Emirates Development Bank (EDB), a key financial enabler of the country’s economic diversification and industrial transformation agenda. The bank has also been assigned a ‘gcAAA’ long-term GCC regional scale rating by S&P Global Ratings, said a statement issued by EDB on Monday. ...

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• 8 June

  Sharjah, Guatemala discuss means to boost economic ties

  

  SHARJAH / WAM The Sharjah Chamber of Commerce and Industry (SCCI) welcomed Lars Pera, Ambassador of Guatemala to the UAE, and Jose Bassila, Commercial Counsellor at the Embassy of Guatemala, to discuss means to boost bilateral ties and stimulate investments in food security, waste management and natural tourism fields, among others. The two sides agreed to organise a coordination meeting ...

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