December, 2020

• 9 December

  Stocks climb, dollar slips amid hopes for stimulus

  

  Bloomberg Global stocks climbed towards another record high as hopes for a US stimulus deal countered concern about a surge in coronavirus cases. Treasuries slipped with the dollar. Cyclical banking and energy firms led European shares higher at the opening, after equities rose in much the Asia Pacific. Britain’s pound rallied as UK Prime Minister Boris Johnson was expected to ...

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• 9 December

  China stocks face $722b overhang as share lockups end

  

  Bloomberg More than $722 billion worth of Chinese stocks will be unlocked for sale next year, testing a market where valuations are at a five-year high. That would be the largest amount since at least 2011, according to China Merchants Securities Co. It’s also equivalent to about 7% of the value of the entire Chinese equity market, data compiled by ...

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• 9 December

  Innovation will be at the heart of new era in aviation: ICAO

  

  MONTREAL / WAM Salvatore Sciacchitano, President of the International Civil Aviation Organisation (ICAO) Council, said that innovation will play a key role in the aviation sector’s recovery strategies. “Looking forward to a post-pandemic world, innovation will be at the very heart of the new era in aviation which is now dawning,” said Sciacchitano in a statement on the International Civil ...

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• 9 December

  Adnoc’s new unit commences trading of refined products

  

  ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) has officially launched its second trading arm, Adnoc Global Trading (AGT), a joint venture between Adnoc (65 percent), Eni (20 percent) and OMV (15 percent) which focuses on the trading of refined products globally. The AGT virtual launch event brought together leaders from Adnoc, Eni and OMV, as well ...

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• 9 December

  E-commerce sales to rise to AED100bn by 2022

  

  DUBAI / WAM Dubai Customs expects e-commerce sales to rise 23 percent to $27 billion (AED100 billion), in 2022. Dubai Customs plays a major role in supporting the strategy which sees Dubai as the world’s capital of the new economy. This is done through reinforcing the companies of the future economy such as the e-commerce companies by facilitating trade and ...

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• 9 December

  Two-day World Space Forum begins today

  ABU DHABI / WAM The two-day World Space Forum, which will begin on Wednesday, is a key global forum that aims to achieve the United Nations (UN) Sustainable Development Goals and ensure the ideal global utilisation of space discoveries and science technologies. Theme “Space for Our Future”, the event brings together experts and policymakers from regional, national and local institutions ...

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• 9 December

  Rafed, Abu Dhabi Ports to launch UAE’s largest medical cold storage

  

  ABU DHABI / WAM Rafed, the recently established healthcare procurement company, and Abu Dhabi Ports, the region’s premier facilitator of logistics, transport, and trade, have signed a collaboration agreement to jointly launch the largest healthcare and medical supplies cold store distribution centre in the UAE. Both entities are part of ADQ, one of the region’s largest holding companies with a ...

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• 9 December

  Etihad Airways launches carbon offset programe

  

  ABU DHABI / WAM Etihad Airways, the national airline of the UAE, has committed to purchasing carbon offsets, to completely neutralise the CO2 emissions of its flagship “Greenliner” 787-10 aircraft for a full year of operations in 2021. The initiative is the start of the airline’s journey to reduce CO2 emissions to 50 percent of 2019 levels by 2035, and ...

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• 9 December

  UAE, India aim to treble food trade by 2025

  NEW DELHI / WAM The UAE and India aim to treble the volume of their food trade in the next five years. Optimism in achieving this goal was expressed by a multitude of speakers from the government and private sectors in both countries at the “UAE-India Food Security Summit 2020,” a two-day hybrid event, which began on Tuesday. The summit ...

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• 9 December

  E-comm sales to hit AED100b in 2022, says Dubai Customs

  

  DUBAI / WAM Dubai Customs expects e-commerce sales to rise 23 percent to 27 billion (AED100 billion), in 2022. Dubai Customs plays a major role in supporting the strategy which sees Dubai as the world’s capital of the new economy. This is done through reinforcing the companies of the future economy such as the e-commerce companies by facilitating trade and ...

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