January, 2021

• 6 January

  Alibaba plans to sell $8bn bonds in show of strength

  

  Bloomberg Alibaba Group Holding Ltd. is looking to raise as much as $8 billion selling dollar bonds as early as next week, according to people familiar with the matter. The e-commerce giant aims to raise at least $5 billion but could wind up with more depending on the reception, said the people who aren’t authorised to speak publicly and asked ...

  Read More »
• 6 January

  Treasury yields hit 1%; Nasdaq futures tumble

  

  Bloomberg Benchmark Treasury yields touched 1% for the first time since March, European stocks rise and the dollar slid on speculation that Democrats could win the US Senate. Cyclical assets, such as US small-cap stock futures and European energy shares, posted strong gains as investors bet that a Democrat-controlled Congress would deliver a bigger economic aid package. Bitcoin surged past ...

  Read More »
• 6 January

  Oil tops $50 as Saudi pledges to cut production next month

  

  Bloomberg Oil breached $50 a barrel as Saudi Arabia pledged a voluntary oil-production cut next month, while most of the Opec+ alliance agreed to hold its production steady. Futures in New York rose as much as 5.1%, topping $50 a barrel for the first time since February before easing off the high. Saudi Arabia didn’t provide a volume on the ...

  Read More »
• 6 January

  UAE, Pakistan to boost defence cooperation

  

  ISLAMABAD / WAM The UAE Ambassador to Pakistan, Hamad Obaid Alzaabi, has discussed with Zobaida Jalal, Pakistani Federal Minister for Defence Production, ways to further develop relations between the two countries and reviewed current regional and international developments. The two sides reviewed both countries’ experience in combating the coronavirus pandemic, the UAE’s humanitarian efforts in this regard and its aid ...

  Read More »
• 6 January

  Fortnightly PCR test must for UAE public sector staff

  Dubai / WAM The UAE government has announced that employees of all ministries and federal entities will be required to undergo mandatory Covid-19 PCR testing every 14 days starting from January 17. Federal Authority for Government Human Resources said the decision is part of the government’s efforts to limit the spread of the virus.

  Read More »
• 6 January

  EGA’s Al Taweelah refinery hits nameplate capacity

  

  ABU DHABI / WAM Emirates Global Aluminium (EGA), the largest industrial company in the UAE outside oil and gas, on Tuesday announced that its Al Taweelah alumina refinery, the first in the UAE, has delivered sustained monthly production at or above nameplate capacity each month for the past three months. The milestone marks the completion of a world-class ramp-up of ...

  Read More »
• 6 January

  Sharjah, Latvia explore prospects for investment partnerships

  

  SHARJAH / WAM The Sharjah Chamber of Commerce and Industry (SCCI) and the Embassy of Latvia in the UAE have highlighted the importance of organising joint events and exchanging visits between trade delegations to enhance the economic and investment cooperation between the two friendly countries. This came during the meeting between Abdullah Sultan Al Owais, Chairman SCCI, and Atis Sjanits, ...

  Read More »
• 6 January

  Etihad offers two tickets for price of one

  ABU DHABI / WAM Etihad Airways has announced the launch of its New Year’s sale — get two tickets for the price of one. Fares from Abu Dhabi to Istanbul start from AED 1,790, Dublin from AED 3,830 and Toronto from AED 5,790. The sale extends across all of Etihad’s cabins, with return Business fares starting from AED 8,750 out ...

  Read More »
• 6 January

  DGCX trades 12.73m contracts in 2020

  

  Dubai / WAM The Dubai Gold & Commodities Exchange (DGCX) on Tuesday announced that it traded 12.73 million contracts in 2020, and recorded a yearly AOI of 220,504 contracts. Open interest refers to total number of outstanding contracts at the end of the trading day and is a strong indicator of an exchange’s success. Additionally, the best performing product in ...

  Read More »
• 6 January

  GCC relations from Sheikh Zayed’s ideology to Al Ula

  

  ABU DHABI / WAM “Gulf Cooperation Council (GCC) countries share the same destiny,” this is a phrase followed by the UAE in words and actions from the first GCC summit held on Monday, May 25, 1981, to the 41st GCC Summit held in Al Ula, Saudi Arabia. The UAE still believes that GCC countries share the same destiny, as the ...

  Read More »