July, 2020

• 6 July

  Oil gains past $43 as Saudi raises prices, equities climb

  

  Bloomberg Oil rose in London to above $43 a barrel as Saudi Arabia hiked its official selling prices, and as global equity markets climbed. Brent gained 1.3% in London to near the highest level since March. Saudi Aramco increased its crude prices to Asia as demand recovers. Libya’s oil exports are expected to fall this month as forces opposed to ...

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• 6 July

  UAE sends medical aid to Brazil

  Abu Dhabi / WAM The UAE on Monday sent a plane carrying over 12 metric tonnes of medical supplies and Covid-19 testing kits to Brazil in furtherance of joint cooperation to bolster the country’s efforts to curb the spread of Covid-19 and assist approximately 12,000 medical professionals as they work to contain the coronavirus. Commenting on delivery, Saeed Abdullah Mohammed ...

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• 6 July

  ADGM signs deal with Irena to promote sustainable finance

  

  Abu Dhabi / WAM Abu Dhabi Global Market (ADGM) and the International Renewable Energy Agency (Irena) have announced the signing of a Memorandum of Understanding (MoU) to signify their joint commitment to progressing sustainable finance across the UAE and the wider region. Through the MoU, ADGM and Irena solidified their mutual dedication to promoting solutions that facilitate investment in renewable ...

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• 6 July

  Low-cost airline Air Arabia Abu Dhabi to start flights on July 14

  

  Abu Dhabi / WAM Air Arabia Abu Dhabi has announced that will start direct flights connecting Abu Dhabi with Alexandria and Sohag in Egypt. The inaugural flight will take off from Abu Dhabi to Alexandria on July 14 followed by flights to Sohag the next day. Air Arabia Abu Dhabi will start its operations with two Airbus A320 aircraft based ...

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• 6 July

  in5 startups raise AED65m in H1 of 2020

  DUBAI / WAM in5, an enabling platform for startups and entrepreneurs launched by Tecom Group, on Monday announced that its members have raised more than AED65 million in direct investment, through multiple funding sources such as venture capital funds or angel investors, during the first six months of this year. “After generating more than AED400 million in funding between 2013 ...

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• 6 July

  Laboratory-grown diamond firm Lumex establishes base in DMCC

  

  Dubai / WAM DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – has welcomed Lumex to the expanding community of laboratory-grown diamond businesses within the Free Zone. Lumex is the latest laboratory-grown diamond business to select Dubai and DMCC as the base of its operations in the region. “Since its inception ...

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• 6 July

  100-year old Al-Sarh tree discovered in Abu Dhabi

  

  Abu Dhabi / WAM Studies by the Environment Agency – Abu Dhabi (EAD) have identified a single example of a species of tree not previously recorded in the Emirate, it was announced on Monday. It is believed by local inhabitants to be over 100 years old. The tree, known locally as Al-Sarh, is a member of the caper family, with ...

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• 6 July

  UAE denies false reports about closure of malls

  

  ABU DHABI / WAM The National Emergency, Crisis and Disasters Management Authority denies the false information circulated on social media sites regarding the closing of shopping mall and commercial centres in the country for a renewable period of two weeks, and obliging restaurants to provide delivery services only. The authority has stressed the importance of obtaining news from the official ...

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• 6 July

  Dominion kills pipeline, sells assets

  

  Bloomberg One of the largest utilities in America is starting to turn its back on natural gas. Dominion Energy Inc, the second-biggest US power company by market value, said it’s selling substantially all of its gas pipeline and storage assets to Berkshire Hathaway Inc for $4 billion. In a separate statement, Dominion and its partner Duke Energy Corp said they’re ...

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• 6 July

  China coal group halts daily demand index

  Bloomberg A Chinese coal industry group halted publication of a daily consumption index that was widely used as a real-time indicator of the nation’s economic health. Accurate and timely data is key to understanding the world’s second-biggest economy, but releases can often change with little warning, even when the figures are from official sources. The coal market lost an important ...

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