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Bloomberg Goldman Sachs Group Inc strategists said there’s little reason to expect a major retreat in US stocks in the months ahead, even as the breadth of the rally that has pushed the S&P 500 index into successive records is getting increasingly narrow. Just five stocks account for 51% of the US benchmark’s returns since April, Goldman’s strategists led by ...

Dubai / WAM In his capacity as the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister, on Saturday issued Law No. 21 of 2021, establishing the Dubai Council to outline and deliver the emirate’s future development agenda with a view to boosting its leading edge competitiveness and leadership regionally and internationally, and ...

Bloomberg Oil set its biggest weekly gain in more than three months as the worst fears over the new virus strain have receded. West Texas Intermediate futures climbed 8.2% this week. Fuel consumption so far escaped any major blows from the omicron variant. Yet confidence is limited. Rallies are still punctuated by selloffs after rising infection rates prompted some governments ...

ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan has sent a message of condolences to the Emir of Kuwait His Highness Nawaf Al Ahmad Al Jaber Al Sabah, on the death of Sheikh Duaij Khalifah Al Abdullah Al Khalifah Al Sabah. HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the ...

Bloomberg The Group of Seven (G-7) finance ministers will convene virtually on Monday to discuss the recent surge in inflation, according to people with knowledge of the matter. The talks will come against the backdrop of supply-chain snarls that have hampered the world economy, and ministers will also discuss healthcare, according to the people, who spoke on condition of anonymity. ...

ABU DHABI / WAM In line with the UAE government’s focus on supporting the performance and competitiveness of the industrial sector and easing procedures, the UAE cabinet has amended the requirement for nutritional labelling under the standard No. UAE.S 5034: 2018 (Nutritional labelling of pre-packed products as traffic light colors) from mandatory to voluntary. Under the standard, which was scheduled ...

Dubai / WAM The Roads and Transport Authority (RTA) announced the start of civil site works for the infrastructure of the operation of the electric scooter in preparation for the launch of Phase I of the project, which would cover 10 Dubai districts and start operation in the first quarter of 2022. The step responds to the Executive Council’s endorsement ...

Sharjah / WAM Sultan Abdullah bin Hadda Al Suwaidi, Chairman of Sharjah Economic Development Department (Sedd), and Dr Khalid Omar Al Midfa, Chairman of Sharjah Media City (Shams), discussed cooperation and enhancing coordination between the two parties for the benefit of the investor. Earlier, Al Suwaidi and several directors and advisors received Dr Al Midfa and his delegation at the ...

Dubai / Emirates Business With the end of school term and the start of the holiday season, Emirates is expecting over 1.1 million passengers to pass through Terminal 3 at Dubai International during this busy travel period which will run through until December 21. This weekend will see a peak surge of close to 250,000 travellers departing from Terminal 3. ...

Abu Dhabi / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted 242,454 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 ...