Bloomberg The Organisation of Petroleum Exporting Countries (Opec) and its allies are expected to revive more oil supplies when they meet next week, underscoring the group’s optimism in the outlook for global demand. The 23-nation alliance led by Saudi Arabia and Russia is likely to proceed with another modest monthly hike of 400,000 barrels a day as it restores ...
Read More »China’s foreign debt hits $2.7tn at end-September
Bloomberg China added $16.7 billion in foreign debt in the third quarter of 2021 due in part to increased purchases of onshore yuan-denominated bonds by foreign investors. About 47% of China’s outstanding debt of $2.7 trillion at the end of September are medium to long-term obligations, up three percentage points from the end of June, Wang Chunying, deputy director ...
Read More »Sharjah’s new beach to feature pro skatepark
Sharjah / WAM The Sharjah Investment and Development Authority (Shurooq) announces the development of Sharjah’s newest pro skatepark attraction which will be part of its much anticipated and upcoming beach destination, Al Hira Beach. Scheduled for completion in Q1 of 2022, along with opening of Al Hira Beach, the new attraction comes as part of a partnership between Shurooq ...
Read More »Abu Dhabi International Airport marks 40 years of development
Abu Dhabi / WAM Abu Dhabi Airports on Sunday marked the 40th anniversary of the official opening of Abu Dhabi International Airport (AUH), celebrating its contributions to the remarkable ascension of Abu Dhabi as a centre for aviation, trade and tourism. “Abu Dhabi International Airport has connected the world to Abu Dhabi for 40 years and fuelled the emirate’s ...
Read More »UAE reports 890 new recoveries from Covid-19
DUBAI / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted 429,564 additional Covid-19 tests over the past 24 hours, using state-of-the-art medical testing equipment. In a statement, the Ministry stressed its aim to continue expanding the scope of testing nationwide to facilitate the early detection of coronavirus cases and carry out the necessary treatment. As ...
Read More »Weather fluctuations to last until Thursday, says NCM
Abu Dhabi / WAM The National Centre of Meteorology (NCM) has said the UAE is affected by a state of atmospheric instability as the upper low pressure extending from the west over the country deepens, coinciding with the extension of a surface low pressure from the south, and the continued flow of clouds from the Red Sea towards the ...
Read More »Ewec transferring its control centre will enhance energy efficiency, says Al Rumaithi
Abu Dhabi / WAM Emirates Water and Electricity Company (Ewec) completed the transfer of its control centre from Abu Dhabi Transmission and Despatch Company (Transco) to its own assets, which is an important step towards enhancing energy efficiency in the UAE, asserted Ahmed Mohammed Al Rumaithi, Undersecretary of the Abu Dhabi Department of Energy (DoE). Ewec is now tasked ...
Read More »Sheikh Mohammed approves AED181bn budget for Dubai
Dubai / WAM In his capacity as Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, approved the Government of Dubai’s general budget for the fiscal cycle of 2022-2024, with a total expenditure of AED181 billion. His Highness Sheikh Mohammed has also approved Law No. (28) for the ...
Read More »Up to AED200,000 fine for spreading rumours
Abu Dhabi / WAM The Public Prosecution on Sunday published a video on its social media accounts highlighting the potential penalties for spreading rumours and false news, in accordance with Federal Decree Law No. 34 of 2021 aimed at combatting the spread of rumours and fake news. The Public Prosecution pointed out that according to Article 52 of ...
Read More »Europe seeks green label for certain gas, nuclear projects
Bloomberg The European Union (EU) is planning to allow some natural-gas and nuclear energy projects to be classified as sustainable investments in a proposal that sparked immediate criticism from the Greens. The European Commission wants to give a temporary green label to gas projects that replace coal and emit no more than 270 grams of carbon dioxide equivalent per kilowatt-hour, ...
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