May, 2019

• 21 May

  Trade tensions derailed global economy: OECD

  

  Bloomberg Trade tensions have derailed the global economy, plunging it onto a low-growth track that’s clouded by risks, according to the Organisation for Economic Co-operation and Development’s (OECD) latest outlook. The report sticks to the gloomy tone long held by the Paris-based organisation, which has warned that trade disruptions could ricochet throughout the world economy. Now that scenario has come ...

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• 21 May

  UAE-US partnership ‘crucial to maintaining regional stability’

  

  ABU DHABI / WAM The UAE and the US are bound by common interests and values and share similar views on a wide range of issues. The two countries share the same perception and face some common threats, and have managed to build a very strategic relationship at all levels over the years, former US Secretary of Defense James Mattis ...

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• 21 May

  Central bank M3 reaches AED1.636trn

  ABU DHABI / WAM The Central Bank of UAE’s monetary aggregates, which include currency in circulation outside banks plus monetary deposits and quasi-deposits and government deposits, referred to as M3, increased 0.2 percent by the end of April, hitting as much as AED1.636 trillion against an amount of AED 1.632 trillion recorded the month before, according the UAE Monthly Monetary ...

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• 21 May

  UAE investors most optimistic in world as markets rebound

  

  Dubai / Emirates Business High net worth individuals and business owners globally are optimistic and looking for opportunities to invest as markets rebound in 2019, according to UBS Global Wealth Management’s new quarterly Investor Sentiment survey. The survey, which polled more than 3,600 wealthy investors and entrepreneurs in 17 countries, including the UAE, points to a rebound in bullish sentiment ...

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• 21 May

  Work on Expo 2020 ‘thematic districts’ complete

  

  DUBAI / WAM Expo 2020 Dubai has announced that the construction of its petal-shaped Thematic Districts is now complete, marking one of the most significant milestones on the road to welcoming the world to the UAE. More than 100 million working hours have now gone into developing the site, including the completion of all shell and core works for the ...

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• 21 May

  Emirates launches app in Arabic

  Dubai / Emirates Business All the features in the Emirates app are now available in Arabic, bringing the total number of languages supported to 19. The Emirates app currently receives an average of 600,000 monthly downloads and allows users to search, book and manage their flights as well as their Emirates Skywards accounts. Emirates is the only airline globally to ...

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• 21 May

  Dana Gas commences drilling operations at Egypt’s Merak-1 well

  

  Sharjah / WAM Dana Gas on Tuesday announced it commenced drilling operations at its Merak-1 well, offshore Egypt. The location is in 755 metres of water in the North El Arish concession, also known as Block 6. This block is in the Eastern Mediterranean Basin where other giant natural gas discoveries have been made in recent years. The Merak-1 well ...

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• 21 May

  Emirates Steel, Finnish firm sign slag management deal

  

  ABU DHABI / WAM An estimated 1.6 million tonnes of slag, a byproduct of steel manufacturing, of Emirates Steel will be processed in two years after the company signed an agreement with Finnish ECOFER Technologies. The agreement, due to take effect in 2020, will provide Emirates Steel with sustainable slag management services for the next ten years, in line with ...

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• 21 May

  Mohamed: Media a key partner in UAE’s development process

  

  Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, underscored the vital role being played by the media in the ongoing national development and progress process. “The UAE views the media as a key partner in the inclusive development process and spares no ...

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• 21 May

  UAE, Mali discuss ways to expand cooperation across multiple sectors

  

  ABU DHABI / WAM Reem bint Ibrahim Al Hashemy, Minister of State for International Cooperation, received Prime Minister Boubou Cisse of Mali, who is currently visiting the UAE. During the meeting held at headquarters of the Ministry of Foreign Affairs and International Cooperation (MoFAIC), in Abu Dhabi, the two sides discussed bilateral relations and opportunities to expand cooperation across multiple ...

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