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  Abu Dhabi / WAM Emirates Global Aluminium (EGA) on Thursday announced the early, full repayment of the project finance facilities extended by 13 export credit agencies and banks for the development of the company’s Al Taweelah smelter in Abu Dhabi. The project financing was extended to Emirates Aluminium, now an EGA subsidiary, for phase one of the project in ...

  Abu Dhabi / WAM AD Ports Group has announced the signing of an agreement with China-based Shandong Port Group, to establish a Tyre Hub at Kizad for the storage and distribution of tyres. AD Ports Group will provide space for an upcoming 150,000 sqm facility in Kizad under its Industrial Cities and Free Zone Cluster. This will include warehouse ...

  Dubai / Gulf Time As the year draws to a close, a high volume of passengers are expected to surge through Dubai International to meet their travel plans for the New Year celebrations and the holidays season. With nearly 1 million travellers departing and arriving into Dubai, the peak travel period will last through January 10, 2022. In line ...

  Bloomberg Cathay Pacific Airways Ltd. will make “significant” changes to its flight schedule as Hong Kong further tightens quarantine restrictions for aircrew, dealing another blow to a carrier already reeling as the city’s borders remain largely closed. The airline is tentatively planning to cancel some passenger flights to and from the city through the first quarter of 2022, it ...

    Bloomberg Americans flocked to off-price retailers during the holiday period, with visits rising above pre-pandemic levels, according to new data. Foot traffic at T.J. Maxx and Marshalls, both owned by TJX Cos., rose 14.7% and 16.2%, respectively, from December 1 to Christmas Day compared with a year earlier, data from analytics firm Placer.ai show. Burlington Stores Inc.’s foot ...

  Bloomberg Chinese artificial intelligence giant SenseTime Group Inc jumped on its first day of trading in Hong Kong after a rocky initial public offering that was delayed by concerns over fresh US sanctions. The stock gained as much as 23% in early trading before ending 7.3% higher, the biggest first-day gain since mid-July for any Hong Kong IPO that ...

  Bloomberg Stocks were mixed and US futures fluctuated on Thursday in the wake of another Wall Street all-time high on light volumes in the final days of the year. Treasury yields trimmed an advance. The Stoxx Europe 600 gauge was little changed at the open, with technology shares bouncing back to pare some of Wednesday’s drop. Contracts on the ...

  Bloomberg Oil held near a one-month high after industry data pointed to another drop in US crude inventories and traders bet the fast-spreading Omicron variant would prove to be less severe than earlier virus waves. West Texas Intermediate was steady near $76 a barrel after gaining 11% over the past five sessions. The American Petroleum Institute reported nationwide crude ...

  Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Wednesday received a phone call from President of Niger, Mohamed Bazoum, dealing with cooperation and joint work in all fields and the promising opportunity to promote it, especially in the investment, economic, ...

  Abu Dhbai / WAM National Marine Dredging Company (NMDC), the UAE’s leading contractor in the field of engineering, procurement, construction and marine dredging in the Middle East spanning vital sectors, creating solutions that meet the challenges of the future in the energy EPC sector, has won an AED1.3 billion contract from AD Ports Group for the engineering and construction ...