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ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) on Tuesday announced the signing of a historic exploration concession agreement, awarding exploration rights for Abu Dhabi’s Offshore Block 5 to a consortium of four Pakistani companies — Pakistan Petroleum Limited (PPL), Mari Petroleum Company Limited (MPCL), Oil and Gas Development Company Limited (OGDCL), and Government Holdings (Private) Limited ...

Venice / WAM The National Pavilion UAE was awarded the Golden Lion Award for Best National Participation at La Biennale Architettura 2021 at an awards ceremony in Venice. The Golden Lion award is the Biennale’s top honour. Curated by Wael Al Awar and Kenichi Teramoto, Wetland, the National Pavilion UAE’s tenth exhibition at La Biennale Architettura, was selected by the ...

Dubai / WAM The Ministry of Energy and Infrastructure launched the ‘Sail Safely’ initiative, as part of its ongoing efforts to protect the marine environment, enhance maritime safety and security, as well as protect people’s lives. The initiative includes an intensive training programme for captains of leisure and fishing boats to ensure that they adhere to the highest standards of ...

Abu Dhabi / WAM Hassan Mohammed Al Mansouri, Under-Secretary of Infrastructure and Transport Affairs at the Ministry of Energy and Infrastructure, announced that the ministry has constructed 29 federal roads over the past 20 years that serve many areas of the country, underscoring its keenness to develop and improve the nation’s road network. The total distance of all federal roads ...

Dubai / WAM Emirates Central Cooling Systems Corporation (Empower) has announced the signing of an agreement to provide district cooling services to Meydan master community with a total capacity of 382,000 refrigeration tonnes (RT) to meet the needs of the 750 existing and upcoming buildings in the City and acquire the existing district cooling plant for a value of AED100 ...

Bloomberg The US officially ended its military presence in Afghanistan on Tuesday with the final flight out of Kabul, concluding two decades of American involvement touched off by the September 11 terrorist attacks. “I’m here to announce the completion of our withdrawal from Afghanistan and the end of the military mission to evacuate American citizens, third-country nationals and vulnerable Afghans,” ...

Bloomberg The engine of the German economy is turning into a brake in the face of a global supply crunch, threatening to derail the nation’s recovery. While its strong focus on manufacturing helped Europe’s largest economy fare better than its more service-heavy peers in the region during Covid-19 lockdowns, Germany’s rebound is now at risk as companies report shortages of ...

Bloomberg British companies are expecting to raise prices and boost wages amid the strongest business confidence in more than four years, according to a survey published on Tuesday. More than a third of firms anticipate increasing wages by at least 2%, reflecting labour shortages, and almost half plan price hikes, the latest Lloyds Business Barometer shows. Overall confidence rebounded to ...

Bloomberg US consumer sentiment remained weak in late August amid ongoing concerns over inflation and the coronavirus pandemic. The University of Michigan’s final sentiment index falls to a near-decade low of 70.3 during the month from 81.2 in July, data showed. The figure was in line with the preliminary reading and just below the median estimate of 70.8 in a ...

Bloomberg Euro-area inflation jumped to the highest in a decade in August, testing policy makers’ insistence that a post-crisis spike in cost pressures should prove temporary. Consumer prices rise 3%, exceeding the predictions of all 37 economists in a Bloomberg survey. A measure of core inflation that strips out volatile items such as energy and food reached 1.6%, the highest ...