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Fujairah / WAM Oil product stockpiles at the UAE’s Fujairah port rebounded from a 13-month low, with middle distillates expanding to near the record high set in June. Inventories as of November 2 were at 20.243 million barrels, up 9.6% from a week earlier, according to data released on Wednesday from the Fujairah Oil Industry Zone. Stocks of jet fuel, ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on Wednesday met with His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. During the meeting, both sides discussed several national issues related to ...

Dubai / WAM Dr Bernd van Linder, Chief Executive of Commercial Bank of Dubai (CBD) rang the market-opening bell at Nasdaq Dubai on Wednesday to celebrate the listing of a $600 million AT1 conventional bond. The six-year bond with a 6 percent interest rate was 2.1 times subscribed, and allocated to investors in the Middle East (61%), Europe (24%) and ...

Abu Dhabi / WAM Dr Omar Abdulrahman Al Hammadi, Official Spokesman of the UAE Government said that this week, 803,579 tests were conducted around the country, a three percent increase compared to the previous week, adding that the data showed a 15 percent decrease in confirmed cases, amounting to 8,525. Dr Al Hammadi explained the data and statistics collected by ...

Dubai / WAM DP World, UAE Region has announced that its Mina Rashid has won the award for the Middle East’s Leading Cruise Port for the 13th consecutive year at the World Travel Awards (WTA), 2020. Considered as a noteworthy accolade in the travel industry, the award included nominations of cruise ports from around the world. Commenting on the announcement, ...

Bloomberg Shares of Vestas Wind Systems A/S, the world’s biggest wind-turbine maker, fell the most in three years as investors weighed the impact of the US election on the renewable energy sector. Shares fell as much as 13% before recovering some losses; down 7.7% in Copenhagen. The wind turbine maker posted a stronger-than-expected profit in the third quarter on Wednesday. ...

Bloomberg Statkraft AS has signed an agreement to buy the London-based renewable energy developer Solarcentury Holdings Ltd, it said in statement. The 118 million-pound ($152 million) deal will hand the Norwegian state-owned utility six gigawatts of solar projects under development in Spain, the Netherlands, the UK, France, Greece, Italy and Chile. “This acquisition is in line with our strategy to ...

There were already lawsuits challenging votes and voting procedures even on the Election Day. Some of them are invoking the Supreme Court’s 2000 decision in Bush v. Gore, which effectively handed that year’s presidential election to George W Bush. We should expect a lot more to come. Bush v. Gore is widely misunderstood. It rested on exceedingly narrow grounds. As ...

Diversification has been a blessing for BNP Paribas SA. France’s biggest bank is emerging from the economic carnage unleashed by the first wave of the pandemic better than competitors, even after losing money on derivatives. But absent a repeat of the buoyant trading markets we’ve seen this year, not even BNP can escape the pressures of souring debt and declining ...

The Bank of England meets on Thursday against the backdrop of a newly imposed lockdown that’s designed to curb the spread of the coronavirus, but will also crimp the economy. For lenders who were already nervous about borrowers being unable to pay their debts, the prospect of a second collapse in growth will prompt them to rein in their support ...