July, 2018

• 31 July

  20,000 families benefit from UAE grant to support UN plan in Yemen: UNHCR

  

  ADEN / WAM The UAE grant to support the ‘Yemen: Humanitarian Response Plan 2018’ of the UN has benefitted over 20,000 Yemeni families, the United Nations High Commissioner for Refugees, UNHCR, has said. The remarks came during a meeting between Saeed Al Kaabi, UAE Humanitarian Operations Director for Yemen, Ayman Gharaibeh, UNHCR’s Representative to Yemen, and Jacqueline Parlevliet, Head of ...

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• 31 July

  ADGM, Al Hilal Bank tie up to promote Islamic finance

  

  Abu Dhabi / Emirates Business Al Hilal Bank has announced a new partnership with the Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, aimed at promoting Islamic Finance in Abu Dhabi and across the UAE. The Memorandum of Understanding (MoU) was signed by Alex Coelho, Chief Executive Officer at Al Hilal Bank, and Richard Teng, Chief ...

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• 31 July

  Amlak Finance profit hits AED10.4mn in H1

  Dubai / Emirates Business Amlak Finance PJSC, a leading specialised Islamic real estate financier in the Middle East, announced its financial results for the first half ending 30 June 2018. Amlak reported net profit attributable to equity holders of AED10.4 million in H1 2018, an increase of 2% compared to AED 10.2 million for the same period last year. The ...

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• 31 July

  42,000 Yemenis benefit from ERC aid in Hodeidah

  HODEIDAH / WAM Around 42,000 Yemenis, including 30,000 children and 6,000 women, have benefitted from the food aid distributed by the Emirates Red Crescent (ERC) to the residents of Al Tuhayta District and the liberated areas of Zabid and neighbouring villages in Hodeidah Governorate, as part of the ERC’s humanitarian efforts to rescue citizens in the liberated areas of Yemen’s ...

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• 31 July

  EPG gifts ‘first’ UAE-China commemorative stamp

  DUBAI / WAM The Emirates Post Group (EPG) has witnessed a high demand for the latest stamp celebrating 34-year of diplomatic relations between the UAE and China issued to mark recent historic visit of Chinese President Xi Jinping. One such request was received by 8-year-young philatelist Asmaa Humaid Issa Alsuwaidi who contacted EPG through its social media channels. Asmaa, along ...

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• 31 July

  DME sets new open interest record of 71.5mn barrels of crude oil

  

  DUBAI / WAM Dubai Mercantile Exchange (DME), the premier international energy futures and commodities exchange in the Middle East, has reported a new exchange-wide open interest record of 71,586 lots on July 31. This total is equivalent to almost 71.5 million barrels of crude oil. The latest figure surpasses the previous open interest record of 69,183 lots, which was set ...

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• 31 July

  GAC Abu Dhabi joins Abu Dhabi Airports Free Zone

  

  Bloomberg Abu Dhabi Airports Free Zone (ADAFZ) on Tuesday announced leading international logistics firm Gulf Agency Company (GAC) Abu Dhabi as the latest addition to its cargo terminal free zone site. As a result of its free zone status, GAC Abu Dhabi is set to enhance its customer experience, allowing cargo to be transferred to any other free zones in ...

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• 31 July

  BP makes tiny oil trading loss as Permian bottlenecks bite

  

  Bloomberg BP Plc reported a small and unusual loss from oil trading after being caught on the wrong side of Permian basin pipeline bottlenecks that prompted wild gyrations in US crude prices this year. “A lot of people got a little bit caught up in the bottlenecks in the Permian, we had some of that,” BP Chief Executive Bob Dudley ...

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• 31 July

  Crude swings lower amid demand worries

  

  Bloomberg Crude dipped this month as a slew of factors from threats of weaker demand to key OPEC producers boosting output has weighed on the market. Futures in New York have lost almost 7 percent in July as some of the largest producers are seen raising supply levels. On Tuesday, prices also declined amid low-volume trading and a strengthening dollar. ...

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• 31 July

  CN Rail CEO vows loyalty to grain farmers as oil shipments climb

  

  Bloomberg Crude oil demand may be on the rise again, but Canadian National (CN) Railway Co.’s new leader insists energy shipments won’t displace longtime railroad staples such as grain and lumber. Grain farmers in the western Prairie provinces saw exports slow to a crawl when Canadian National proved unable to cope with a surge in demand starting in the second ...

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