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Bloomberg Oil slipped as signs of stumbling recoveries in major economies from Europe to Asia threaten to delay a demand rebound. Futures in New York fell 1.1%, narrowing a weekly gain to just under 1%. Europe’s economy unexpectedly lost momentum this month, with the region battling to control a new spike in coronavirus cases. Meanwhile, a gauge of Japan’s service ...

Bloomberg China’s fragile economic recovery is ushering in a dangerous new phase for the nation’s $4.1 trillion corporate bond market. With the economy now strong enough for policy makers to dial back financial support but still too weak to save the most distressed borrowers, some fund managers are bracing for defaults on domestic Chinese debt to hit record highs this ...

Bloomberg US oil exports to China are set to reach a record next month in a sign that Beijing is stepping up purchases to meet its commitments under a landmark trade deal. About 19 tankers have signed provisional bookings to load American crude for China in September, according to shipping fixtures, which are subject to change. If all of them ...

Bloomberg Protesters gathered in Minsk as opposition forces try to keep up pressure on Belarus President Alexander Lukashenko, while his security apparatus makes a show of force in the country’s capital. Police patrols on main highways leading to Minsk are slowing incoming traffic and making it harder for protesters from other parts of the country to reach the capital. Rainy ...

Abu Dhabi / WAM The Emirates Nuclear Energy Corporation (Enec), on Wednesday announced that its operations and maintenance subsidiary, Nawah Energy Company, in partnership with the Abu Dhabi Transmission and Despatch Company (Transco) – a subsidiary of Abu Dhabi National Energy Company – has safely and successfully connected Unit 1 of the Barakah Nuclear Energy Plant to the UAE grid, ...

Dubai / WAM Obaid bin Humaid Al Tayer, Minister of State for Financial Affairs, has held a virtual meeting with Nirmala Sitharaman, Minister of Finance of India, to discuss means of bolstering cooperation with India in various fields. Al Tayer congratulated Sitharaman, the government, and the friendly people of India on the occasion of India’s Independence Day, which was celebrated ...

Abu Dhabi / WAM The Emirates Red Crescent (ERC) is implementing a new initiative aimed at treating and rehabilitating the victims of the Beirut explosion, coinciding with World Humanitarian Day. The initiative, which is being implemented upon the directives of HH Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union, President of the Supreme Council for Motherhood and Childhood, ...

Bloomberg A giant wind farm being developed off the coast of the UK will sell some of its power to energy trader Danske Commodities A/S. Under the 15-year deal, the subsidiary of Equinor ASA will trade and balance power from 480 megawatts of the Dogger Bank wind farm, about 13% of its capacity. It’s a key step as the developers ...

Bloomberg Belarus President Alexander Lukashenko warned the European Union not to interfere in the country’s post-election crisis, as his opponent appealed to the bloc for support. “There’s no need to point at Belarus today to divert attention from the problems that exist in France, the US, Germany and so on,” Lukashenko told his security council on Wednesday, according to the ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, said that the top priority of the UAE’s economy is to be fastest recovering economy in the world, and to be the most stable and diversified economy on the long term. HH Sheikh Mohammed also said that the ...