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Bloomberg Oil held onto Friday’s sharp losses as traders weighed whether aggressive US monetary policy tightening will lead to a recession that would stymie consumption. Brent traded near $114 a barrel after shedding more than 5% as escalating concerns about the pace at which the Federal Reserve is raising rates rattle financial markets. Trading was thin on Monday due to ...

  ABU DHABI / WAM The Ministry of Energy and Infrastructure announced the fact that the UAE has joined the International Partnership for Hydrogen and Fuel Cells in the Economy (IPHE), a new achievement added to the UAE’s long track record as a pioneer in the field of energy. The agreement was signed remotely by Sharif Al Olama, Under-Secretary of ...

  Abu Dhabi / WAM Al Seer Marine PJSC (ASM), a global player across multiple marine sectors and subsidiary of International Holding Company (IHC), acquired two Very Large Crude Carriers (VLCC) for its growing fleet. With a total value of AED404 million, the crude oil tankers, MV Twin Castor and MV Twin Pollux, each have a carrying capacity in the ...

  Dubai / WAM Google announced on Monday the launch of a new report, The Future of AI in the Mena region, which provides a high-level outlook for artificial intelligence (AI) developments over the next decade, with a specific focus on the United Arab Emirates, Saudi Arabia, Qatar, Egypt and Kuwait. It explores AI investments, industry trends in tourism, transport, ...

  Abu Dhabi / WAM Mohamed Helal Al Mheiri, Director-General of the Abu Dhabi Chamber of Commerce and Industry, received Luis Alfonso De Alba Gongora, Ambassador of Mexico to the UAE, and the accompanying delegation at the Chamber’s headquarters in Abu Dhabi. Attended by Helal Mohamed Al Hameli, Deputy Director-General of the Abu Dhabi Chamber, the meeting discussed boosting trade ...

  DUBAI / WAM As travel rebounds from the impact of pandemic, Emirates airline is preparing for its busiest period yet, with over 550,000 customers expected to fly out from the UAE between June and July on over 2,400 weekly network-wide departures. The airline continues to add flights and frequencies where possible as it ramps up its summer schedule, and ...

  Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced the opening of Expo City Dubai, this coming October. The new city is an ideal smart and futuristic destination for business and innovation, driven by sustainability, innovation, education and entertainment. His Highness Sheikh Mohammed bin ...

  Abu Dhabi / WAM Emirates Steel Arkan announced on Monday its participation in the “Make it in the Emirates” forum, where it will highlight its contribution to the country’s industrial output and showcase new products, including the recently introduced ES600 rebar. The forum, which is the first of its kind in the UAE, will bring together more than 1,300 ...

  ABU DHABI / WAM Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) has ranked 30th globally in its areas of focuses, including artificial intelligence, computer vision, machine learning, and natural language processing, in CSRankings list. MBZUAI ranking puts it ahead of several renowned research universities worldwide, such as University of Michigan, Georgia Tech, and University of Toronto in North ...

  DUBAI / WAM As travel rebounds from the impact of the pandemic, Emirates airline is preparing for its busiest period yet, with over 550,000 customers expected to fly out from the UAE between June and July on over 2,400 weekly network-wide departures. The airline continues to add flights and frequencies where possible as it ramps up its summer schedule, ...