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Bloomberg More international aviation companies are withdrawing from the Singapore Airshow as concerns around the novel coronavirus outbreak mount. Organisers of the event, billed as Asia’s largest aerospace and defense conference, earlier announced it would proceed as scheduled with additional health screening and cleaning measures to reduce risks. The week-long show is due to kick off on February 11 and ...
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February, 2020
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5 February
UAE-Senegal trade reaches AED9.1 billion in five years
ABU DHABI / WAM The commercial and economic ties between the UAE and Senegal have witnessed recent significant developments, with the value of their trade from 2014 to 2018 amounted to AED9.1 billion, according to statistics from the Federal Competitiveness and Statistics Authority (FCSA), and the Ministry of Economy. The official visit of Macky Sall, President of Senegal, to the ...
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5 February
ECB chief warns coronavirus adds to economic uncertainty
Bloomberg European Central Bank (ECB) President Christine Lagarde said her institution is on watch as the coronavirus outbreak provides a new threat to the economic outlook. The disease, which has spread worldwide after originating in China, has shuttered factories, cancelled flights and kept workers at home as governments try to stem the contagion. Lagarde’s comments suggest that the ECB, like ...
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5 February
‘Adnoc’ testing biofuel to reduce fuel consumption
ABU DHABI / WAM Adnoc Logistics & Services will test biofuel as a bunkering fuel for ships, in an effort to comply with the 2020 sulphur cap, the company’s Chief Executive Officer Captain Abdulkareem Al Masabi said. Al Masabi stated that Adnoc has applied the regulations by November 2019 across its entire fleet, which totals 28 ships, and the company ...
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5 February
Rakbank net profit hits AED1,095.3m in 2019
RAS AL KHAIMAH / WAM The National Bank of Ras Al Khaimah (Rakbank), announced a consolidated net profit of AED1,095.3 million for the full-year of 2019, increasing by AED177.7 million over the previous year. According to a press release issued by the Bank on Wednesday, the growth in the bank’s net profit was driven by the improved net interest income, ...
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5 February
Commercial complaints in Dubai decline by 54%
DUBAI / WAM Commercial complaints in Dubai showed a remarkable decline in 2019, as sustained campaigns by Dubai Economy to reach out to traders and resolve their complaints amicably helped improve relations within the business community and enhance business competitiveness in Dubai. The Commercial Compliance and Consumer Protection (CCCP), sector in the Dubai Economy received 770 commercial complaints in 2019, ...
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5 February
Oil climbs from one-year low with Opec, allies split on output curbs
Bloomberg Oil rebounded back beyond $50 a barrel as Opec+ entered a second day of discussions on impact of coronavirus outbreak. Futures rose 3% in New York, reversing some of the dramatic collapse across the futures curve this week that saw the market fall into a bearish contango structure — indicating oversupply. The recovery reflects speculation that Opec+ talks in ...
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5 February
Etihad to add more flights on Athens route
ABU DHABI / WAM Etihad Airways, the national airline of the UAE, has announced that it will increase frequencies on its popular Abu Dhabi to Athens route during the busy summer peak months. According to a press release issued by Etihad on Wednesday, the additional overnight service will be operated between July 8 and August 31 by an Airbus A320 ...
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5 February
Luxembourg joins Dubai in promoting innovative solutions
DUBAI / WAM Luxembourg has joined the Country in Residence programme in Area 2071, an initiative of Dubai Future Foundation (DFF), to reinforce knowledge and experience exchange between Luxembourg and the UAE. The collaboration will ensure a collaborative effort to develop innovative solutions to future challenges in key sectors. Luxembourg is the sixth country to join the initiative. DFF launched ...
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5 February
Commercial complaints in Dubai down by 54%
DUBAI / WAM Commercial complaints in Dubai showed a remarkable decline in 2019, as sustained campaigns by Dubai Economy to reach out to traders and resolve their complaints amicably helped improve relations within the business community and enhance business competitiveness in Dubai. The Commercial Compliance and Consumer Protection (CCCP), sector in the Dubai Economy received 770 commercial complaints in 2019, ...
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