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Bloomberg Bonds rallied from Europe to the US, with 30-year Treasury yields falling to the lowest since July, a move that was accelerated by traders unwinding their short bets. The 30-year US rate falls as much as 9 basis points to 1.79%, narrowing its gap with five-year yields to 72 basis points, within less than 1 basis point of the ...

Bloomberg Tesla Inc lost about $199 billion in value during its biggest back-to-back selloff since September 2020 amid a host of negative news. The drumbeat of adverse headlines reached a crescendo after Elon Musk’s Twitter poll that asked voters over the weekend if he should sell 10% of his stake in the electric-vehicle company was followed by news of his ...

ABU DHABI / WAM Adnoc Distribution on Tuesday reported that its Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) stood at AED2.3 billion, with a net profit of AED1.7 billion for the first nine months of 2021. For the third quarter, EBITDA was AED737 million with a net profit of AED529 million. The company continues to see recovery with September ...

ABU DHABI / WAM The UAE Cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai, approved a temporary licence to test self-driving vehicles, a move that comes as a part of the government’s continuous efforts to adopt advanced technologies within all sectors. The meeting, held on Tuesday ...

ABU DHABI / WAM Abu Dhabi National Insurance Company (Adnic) on Tuesday reported its financial results for the nine-month period ended on September 30, 2021. The company’s net profit increased by 18 percent to AED333.7 million, compared to a net profit of AED282.8 million for the same period in 2020. Adnic’s gross written premium increased by 2.4 percent to AED3.24 ...

Abu Dhabi / WAM AD Ports Group, a leading facilitator of trade and logistics, has signed a Memorandum of Understanding (MoU) with the Egyptian Group for Multipurpose Terminals, the commercial arm of the Egyptian Ministry of Transportation, for the development and operation of a multipurpose terminal in Safaga Port. The signing was conducted on the sidelines of the 4th Smart ...

Abu Dhabi / WAM Abu Dhabi Agriculture and Food Safety Authority (ADAFSA) has begun the final assessment of the Food Safety Index for the emirate of Abu Dhabi, in collaboration with the Food and Agriculture Organisation of the United Nations (FAO), where various local and federal government agencies related to the Food Safety Index participate in the assessment. The index ...

NAIROBI / WAM Trade enabler, DP World, on Tuesday announced the launch of its global wholesale e-commerce platform DUBUY.com in Kenya. This latest expansion of DUBUY.com follows its successful launch in Rwanda earlier this year, where the platform has become a major gateway for trade in the East Africa region. DUBUY.com is an innovative online marketplace that will help unlock ...

Dubai / WAM National Bonds, an investment company owned by The Investment Corporation of Dubai, has increased its stake in Taaleem Holdings (Taaleem), a company with paid up capital of AED 750 million, from 19.6 percent to 23 percent, which makes National Bonds the largest shareholder in Taaleem. “We are delighted to strengthen our journey with Taaleem, a world-class innovative ...

DUBAI / WAM Comoros celebrated its National Day at Expo 2020 with a flag-raising ceremony at Al Wasl Plaza in the presence of President Azali Assoumani of Comoros and Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence and Commissioner General of Expo 2020 Dubai. Speaking on the occasion, President Assoumani said, “We are pleased that the UAE ...