March, 2020

• 2 March

  Global central banks promise stability as OECD sounds alarm

  

  Bloomberg Global central banks promised to act as needed to stabilise markets rattled by the coronavirus as the Organisation for Economic Co-operation and Development (OECD) warned the world economy faces its “greatest danger” since the financial crisis more than a decade ago. In an emergency statement, Governor Haruhiko Kuroda said the Bank of Japan will “strive to provide ample liquidity ...

  Read More »
• 2 March

  UAE welcomes signing of US-Taliban peace deal

  ABU DHABI / WAM The United Arab Emirates has welcomed the signing of the US-Taliban peace agreement, expressing hope that it represents a step towards achieving peace and security throughout Afghanistan. The Ministry of Foreign Affairs and International Cooperation said in a statement on Monday that the UAE hopes that the four-point agreement will be a starting point for stability ...

  Read More »
• 2 March

  Oil’s freefall halted by hope of action from central banks, Opec

  

  Bloomberg Oil rebounded from its worst week since 2008 as the world’s central banks sought to stabilise financial markets, while hopes grew that Opec+ will deepen output cuts following the coronavirus outbreak. Futures rose as much as 4.4% in New York, after sinking 16% last week. Russia, which is due to meet other Opec+ members in Vienna this week, is ...

  Read More »
• 2 March

  No impact from coronavirus on ops: Dana Gas

  SHARJAH / WAM Dana Gas on Monday issued a trading update to shareholders noting that its growth plan and operations remain unaffected by coronavirus (Covid-19), developments. The company went on to note that precautionary measures and contingency plans were put in place to safeguard personal and assets. Dana Gas has robust operations and cash flows since a large part of ...

  Read More »
• 2 March

  Wizz Air Abu Dhabi to begin flying in second half of 2020

  

  ABU DHABI / WAM Abu Dhabi Developmental Holding Company (ADDH), announced on Monday that it concluded the definitive agreement with its partner Wizz Air Holdings, Europe’s fastest growing and greenest airline, to jointly establish Wizz Air Abu Dhabi. The low-cost airline is set to launch its operations at Abu Dhabi International Airport in Fall 2020. The agreement is a major ...

  Read More »
• 2 March

  No impact from Covid-19 on operations: Dana Gas

  

  SHARJAH / WAM Dana Gas on Monday issued a trading update to shareholders noting that its growth plan and operations remain unaffected by coronavirus (Covid-19), developments. The company went on to note that precautionary measures and contingency plans were put in place to safeguard personal and assets. Dana Gas has robust operations and cash flows since a large part of ...

  Read More »
• 2 March

  NBF partners with Ripple for cross-border money transfers

  

  DUBAI / WAM The National Bank of Fujairah (NBF), announced its partnership with Ripple, a leading enterprise blockchain company, to enact easy and seamless cross-border payments through the RippleNet platform. According to a press release issued by the NBF on Monday, the bank’s customers, through this blockchain solution, will now be able to conduct secure and real-time payments with clear ...

  Read More »
• 2 March

  Mohammed unveils 8-language ‘mystery shopper’ app in UAE

  

  Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, launched 8-language ‘Mystery Shopper’ application to enhance the role of customers, and measure the performance of government entities and efficiency of the services they provide. His Highness Sheikh Mohammed affirmed, “That every individual in our community in the ...

  Read More »
• 2 March

  Gold futures trading on DGCX climbs

  Dubai / WAM The Dubai Gold & Commodities Exchange (DGCX), last month saw its flagship Gold Futures product continue its strong start to the year, with year-to-date (Y-T-D), volume growth of 773.6 percent compared to the same period last year, aided by a multi-year record in January. The spike in trading is a response to a global backdrop of economic ...

  Read More »
• 2 March

  UAE facilitates WHO’s medical supplies delivery to coronavirus-hit Iran

  

  DUBAI / WAM The United Arab Emirates has facilitated a mission by the World Health Organisation (WHO) to deliver medical supplies and equipment to Iran in a bid to help contain the new coronavirus, Covid19, in the neighbouring country. The UAE Air Force deployed an aircraft that carried 7.5 tonnes of cargo from Dubai to Iran on Monday afternoon. Dubai’s ...

  Read More »