May, 2019

• 1 May

  Sheikh Mohammed launches ‘Well of Hope’ competition

  

  DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, has called on government and private sector employees through his social media platforms to participate in a new innovative humanitarian competition. Launching the “Well of Hope” competition, Sheikh Mohammed bin Rashid Al Maktoum tweeted, “A new institutional humanitarian ...

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• 1 May

  New sustainability requirements for Dubai hotels issued

  

  Dubai / Emirates Business Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) has announced 19 sustainability requirements that hotel establishments across the emirate will be mandated to comply with under new direction in line with the Dubai Sustainable Tourism (DST) initiative. The requirements have been laid out to support the emirate’s hotel establishments in their compliance with the Dubai ...

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• 1 May

  Private sector work hours reduced during Ramadan

  

  Abu Dhabi / WAM Working hours for the private sector will be reduced by two hours during the Holy Month of Ramadan, according to the Ministry of Human Resources and Emiratisation. Nasser bin Thani Al Hamli, Minister of Human Resources and Emiratisation, issued the decision as per Article 65 of Federal Law No. 08 of 1980. The minister extended his ...

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• 1 May

  Tolerance is like oxygen, says Nahyan bin Mubarak

  

  Abu Dhabi / WAM “Tolerance is like oxygen and the people of the UAE are the trees helping equally to produce the oxygen of tolerance,” Sheikh Nahyan bin Mubarak Al Nahyan, the UAE’s Minister of Tolerance said on Wednesday. “The greater the participation of the country’s people in promoting tolerance, the more harmonious, peaceful and prosperous the country will be.” ...

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• 1 May

  Adnoc Distribution net profit jumps 6.6% to $157mn in Q1

  

  Abu Dhabi / Emirates Business Adnoc Distribution, the UAE’s largest fuel and convenience retailer and a company listed on Abu Dhabi Securities Exchange (ADX), on Wednesday reported that its first quarter 2019 net profit increased by 6.6% to AED 578 million ($157 million) when compared with the same period last year. Excluding inventory gains recorded in Q1 2018, the 2019 first ...

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• 1 May

  Supreme Council of Energy reviews progress of 2030 demand strategy

  

  DUBAI / WAM The Supreme Council of Energy held its 55th meeting, chaired by His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation Authority and Chairman and Chief Executive of Emirates Airline and Group. The meeting agenda covered several topics, notably the progress related to the ‘Demand Side Management Strategy 2030’ to reduce energy and water ...

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• 1 May

  US stocks increase amid tech gain as Fed looms; oil slumps

  

  Bloomberg US stocks edged higher as Apple Inc’s upbeat sales projection boosted technology shares, while Treasuries climbed before the Federal Reserve’s decision. The S&P 500 Index looked for a fourth day of gains and a fresh record and tech-heavy Nasdaq indexes outperformed as the iPhone maker again closed in on a $1 trillion market valuation. Advanced Micro Devices Inc’s outlook ...

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• 1 May

  Asia’s best bond returns not enough to attract investors

  

  Bloomberg Even with Asia’s top performance, foreign investors are still not convinced to buy Philippine bonds. Local-currency notes in the Philippines have yielded almost 10 percent this year through April, compared with less than 2 percent for China and India, data compiled by Bloomberg show. High taxes, a less liquid market, and tedious documentary requirements are some of the gripes ...

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• 1 May

  BP profit on target as cash flow grows

  

  Bloomberg BP Plc boosted cash flow and hit the target on profit estimates in the first quarter as rising oil and gas production and strong trading results offset the effect of lower prices. The company’s performance brightens a mixed picture for Big Oil earnings. While the industry has moved beyond the worst downturn in a generation it’s still enduring volatile ...

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• 1 May

  ‘Mexican private oil output not yet enough to restart auctions’

  

  Bloomberg Mexican President Andres Manuel Lopez Obrador said that oil output from private companies hasn’t risen to a level that would justify restarting auctions that his administration put on hold. Lopez Obrador said private companies are only producing 4,000 barrels of crude per day, based on the information he has from state-owned oil company Petroleos Mexicanos. As of two weeks ...

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