August, 2019

• 14 August

  Oil slumps as fears of global slowdown rise

  Bloomberg Oil tumbled the most in a week as global financial markets swooned and the swelling US crude stockpiles reinforced the fears about an economic slowdown. Futures slipped more than 5 percent in New York, joining a slide in equities. American crude inventories registered a surprise increase for the second straight week, US data showed on Wednesday, although gasoline demand ...

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• 14 August

  Trump’s farm tariffs no match for China’s retaliatory duties

  

  Bloomberg US President Donald Trump’s new tariffs on Chinese agricultural products are likely to hurt the Asian nation a lot less than the retaliatory duties Beijing already imposes on the US. The White House, while delaying tariffs on big-ticket consumer products until Dece- mber, decided to push ahead with 10 percent tariffs on Chinese agricultural products as well as antiques, ...

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• 14 August

  Etisalat, Sparkle ink deal to enable 5G roaming globally

  

  Dubai / Emirates Business Etisalat Carrier & Wholesale (C&WS) and Sparkle announced the establishment of a 5G data roaming interconnection between Etisalat and TIM, paving the way for 5G roaming between Middle East and across the globe. This strategic agreement will set the path for 5G and the global mobile and carrier community. While Expo 2020 was the first major ...

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• 14 August

  National Bonds gives Eidiyah rewards to minor bondholders

  Dubai / Emirates Business For the tenth year in a row National Bonds, the UAE’s leading Sahri’a Saving and Investment Company, is distributing ‘Eidiyah’ to more than 1000 lucky minor bondholders. ‘Eidiyah’ is an annual initiative that rewards minor bondholders via special electronic draws for AED 50 held in celebration of Eid Al Adha. As part of its efforts to ...

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• 14 August

  Fujairah’s refined oil product stocks up 10%

  

  FUJAIRAH / WAM/S&P Platts Refined oil product stockpiles at the Middle Eastern hub of Fujairah jumped 10 percent in the week to August 12 to 21.253 million barrels — an eight-week high — according to data released on Wednesday by the Fujairah Oil Industry Zone (Foiz). The biggest increase was in middle distillates, which ballooned 35 percent to 2.86 million ...

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• 14 August

  UAE Vice President, Abu Dhabi Crown Prince meet in Dubai

  

  DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, received on Wednesday His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. Their Highnesses exchanged views on national issues related to Emiratis to ensure ...

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• 14 August

  Abu Dhabi’s world-class infrastructure to be showcased at World Road Congress

  

  ABU DHABI / WAM Abu Dhabi will showcase its world-class infrastructure and technology achievements in the transport sector to global experts as part of a series of technical visits during the World Road Congress Abu Dhabi 2019. Now open for registration, the free technical visits will offer delegates valuable insights on how Abu Dhabi deals with the day-to-day operations of ...

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• 14 August

  Damac records AED1.9 billion in revenues in first half of 2019

  

  Dubai / Emirates Business Damac Properties Dubai Co announced financial resu-lts for the first half of 2019, reporting a total revenue of AED1.9 billion, with boo-ked sales reported at AED1.8 billion. Gross profits for the same period stood at AED502 million reflecting gross profit margins of 27 percent. Total assets stood at AED24.7 billion compared to AED25.2 billion as of ...

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• 14 August

  Breakbulk Middle East triumphantly returns to Dubai

  

  DUBAI / Emirates Business Under the patronage HE Dr Abdullah Belhaif Al Nuaimi, the UAE Minister of Infrastructure Development and the Chairman of Federal Transport Authority for Land and Maritime, Breakbulk Middle East (BBME), the largest breakbulk and project cargo event in the GCC, will return to the UAE on February 25-26, 2020. This will mark the second consecutive year ...

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• 14 August

  Amanat’s net profit rises 26% in first half of 2019

  

  Dubai / Emirates Business Amanat Holdings PJSC (“Amanat”), the GCC’s largest healthcare and education investment company, announced its results for the second quarter ending on June 30. Amanat recorded a net profit of AED35.1 million in H1 2019 representing a 26 percent increase compared with the same period in 2018, and a total income of AED63.8 million, up 28 percent ...

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