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#UAE central bank extends $13.6 billion stimulus measure until end of the year - WAM | Reuters

UAE central bank extends $13.6 billion stimulus measure until end of the year - WAM | ReutersThe United Arab Emirates central bank decided to extend until the end of this year a 50 billion dirhams ($13.6 billion) facility introduced to help banks and financial companies, state news agency WAM said on Wednesday.The “zero cost funding support facility” was one of a series of stimulus measures introduced last year by the UAE central bank to contain the impact of the coronavirus crisis on the econom...
Tags: Travel, Wam, Uae, Rupert Neil Bumfrey, ReutersThe United Arab Emirates


MIDEAST STOCKS-Major Gulf markets end mixed; #AbuDhabi snaps winning streak | Nasdaq

MIDEAST STOCKS-Major Gulf markets end mixed; Abu Dhabi snaps winning streak | NasdaqMajor stock markets in the Gulf ended mixed on Wednesday, with the Abu Dhabi index ending its run of gains, while Saudi Arabia was lifted by its financial shares.The Saudi benchmark index .TASI rose 0.3%, helped by a 5.7% gain in Banque Saudi Fransi 1050.SE and a 3.3% increase in Dr Sulaiman Al-Habib Medical Services 4013.SE.However, petrochemical firm Saudi Basic Industries Corp (SABIC) 2010.SE eased 0.3%.SABIC ...
Tags: Travel, Saudi Arabia, Wam, Qatar, Hsbc, United Arab Emirates, Dubai, Abu Dhabi, Morgan Stanley, Uae, Gulf, Reuters, Adi, SABIC, Tasi, Rupert Neil Bumfrey


#UAE Appoints Veteran Al Tameemi as Central Bank Governor - Bloomberg

UAE Appoints Veteran Al Tameemi as Central Bank Governor - BloombergThe United Arab Emirates appointed financial services veteran Khaled Mohammed Al Tameemi as the Gulf nation’s central bank governor as it plots a way out of the pandemic-driven economic downturn.Al Tameemi, who has worked in banking and financial services for more than three decades, previously held the central bank’s vice chairman post. He was previously a board member at the General Pension and Social Security Authority, and a...
Tags: Travel, Wam, United Arab Emirates, International Monetary Fund, Uae, Gulf, Central Bank, U S Federal Reserve, Arab Gulf, Rupert Neil Bumfrey, BloombergThe, Abu Dhabi Investment Council, Abdulhamid Saeed Alahmadi, Al Tameemi, Central Bank Governor Bloomberg, Khaled Mohammed Al Tameemi


Most major Gulf markets gain; #Qatar eases | Reuters

Most major Gulf markets gain; Qatar eases | ReutersMost major stock markets rose in early trade on Monday, with Abu Dhabi index leading the gains, although Qatar traded lower.Saudi Arabia’s benchmark index rose 0.2%, with Al Rajhi Bank gaining 0.2%, while Saudi Arabian Mining Company advanced 1.2%.Saudi Arabia increased the price of its Arab light crude for the Asian market by $0.4/barrel in May, compared to April, and lowered those for the U.S. and European markets by $0.1/barrel and $0.2/barre...
Tags: Travel, Saudi Arabia, Iraq, Wam, Qatar, United Arab Emirates, Dubai, Abu Dhabi, Uae, Gulf, Reuters, Aramex, Qatar National Bank, Qatar Islamic Bank, Mustafa al Kadhimi, Rupert Neil Bumfrey


#UAE to invest $10 billion with Indonesia's sovereign wealth fund | Reuters

UAE to invest $10 billion with Indonesia's sovereign wealth fund | ReutersThe United Arab Emirates will invest $10 billion with Indonesia’s state fund, the Indonesia Investment Authority, to be spent on projects inside the Southeast Asian country, the UAE state news agency reported on Tuesday.The investment will be used for infrastructure projects, including roads and ports, and also tourism, agriculture and other “strategic sectors”, WAM reported. [Author: [email protected] (Rupert Neil B...
Tags: Travel, Indonesia, Wam, United Arab Emirates, Uae, Reuters, Rupert Neil Bumfrey, Indonesia Investment Authority


#Dubai leads most of Gulf higher; Saudi index dips | Reuters

Dubai leads most of Gulf higher; Saudi index dips | ReutersStock markets in the United Arab Emirates ended higher on Thursday, on the back of financials and energy shares, while the Saudi index ended a four-day winning streak.Dubai’s main share index advanced 1%, with its largest lender Emirates NBD rising 2.6%, while sharia-compliant lender Dubai Islamic Bank closed 1.5% higher.Elsewhere, Dubai Investments rose 3.4% after announcing a 8% cash dividend for the year 2020.In Abu Dhabi, the index a...
Tags: Travel, Saudi Arabia, Wam, Israel, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Reuters, Emirates NBD, Dana Gas, Rupert Neil Bumfrey, Industries Qatar, Dubai Islamic Bank, Al Rajhi Bank, First Abu Dhabi Bank


MIDEAST STOCKS-Most Gulf indexes rebound on global rally, higher oil prices | Nasdaq

MIDEAST STOCKS-Most Gulf indexes rebound on global rally, higher oil prices | Nasdaq Most bourses in the Gulf rebounded in early trade on Thursday, tracking a rally in global equity markets and a jump in oil prices.Oil prices extended gains for a fourth straight session to reach the highest levels in more than 13 months, underpinned by assurance of continued supportive measures by the U.S. Federal Reserve and a sharp drop in U.S. crude output.Saudi's benchmark index .TASI was up 1.4%, aided by a...
Tags: Travel, Wam, Qatar, Joe Biden, United Arab Emirates, Dubai, Abu Dhabi, Uae, Gulf, Reuters, Mohammed bin Salman, Salman, U S Federal Reserve, Tasi, Rupert Neil Bumfrey, Emirates NBD ENBD DU


Most Gulf markets fall; #AbuDhabi gains | Reuters

Most Gulf markets fall; Abu Dhabi gains | Reuters Most Gulf markets ended in the red on Thursday, with the Saudi index pressured by losses in its banking shares.Saudi Arabia’s benchmark index ended the session down 0.7%, but was still up 0.9% on the week.Al Rajhi Bank dropped 0.7%, while the kingdom’s largest lender National Commercial Bank retreated 1.9%.Crude oil exports in Saudi Arabia, the world’s largest oil exporter, rose for a sixth straight month to an eight-month peak in December 2020, ...
Tags: Travel, Saudi Arabia, Wam, United Arab Emirates, Dubai, Abu Dhabi, Boeing, Gulf, Reuters, Emirates NBD, Qatar National Bank, Oct, Qatar Islamic Bank, Rupert Neil Bumfrey, Aldar Properties, National Commercial Bank


MIDEAST STOCKS-Gulf markets little changed in early trade | Nasdaq

MIDEAST STOCKS-Gulf markets little changed in early trade | Nasdaq Major Gulf stock markets were little changed early on Thursday, with the Dubai index slipping slightly on declines among Industrial and financial stocks.Saudi Arabia's benchmark index .TASI rose 0.1%, with Saudi Arabian Mining Company 1211.SE gaining 2.6% and petrochemical firm Saudi Basic Industries 2010.SE increasing 0.6%.Saudi Arabia's crude oil exports rose for a sixth straight month to an eight-month peak in December 2020, o...
Tags: Travel, Saudi Arabia, Wam, Qatar, United Arab Emirates, Dubai, Abu Dhabi, Boeing, Gulf, Joint Organisations Data Initiative, Emirati, Commercial Bank, Tasi, Rupert Neil Bumfrey, Saudi Basic Industries, QSI


#UAE- #Qatar ties: All land, sea and air ports to reopen January 9 | ZAWYA MENA Edition

UAE-Qatar ties: All land, sea and air ports to reopen January 9 | ZAWYA MENA Edition The UAE will reopen air, land and sea borders with Qatar starting Saturday, state news agency, Wam announced.In a statement issued on Friday, Khalid Abdullah Belhoul, Undersecretary of the Ministry of Foreign Affairs and International Cooperation, said the UAE will hold bilateral talks to phase out the boycott in effect against Qatar since June 5, 2017. This follows the signing of the Al Ula Declaration on Tuesd...
Tags: Travel, Saudi Arabia, Wam, Qatar, GCC, Uae, Gulf, Rupert Neil Bumfrey, Anwar Gargash, UAE Qatar, Gargash, Khalid Abdullah Belhoul Undersecretary


Major Gulf markets little changed; #Dubai ends winning streak | Reuters

Major Gulf markets little changed; Dubai ends winning streak | Reuters Major stock markets in the Gulf were little changed on Sunday in the absence of new catalysts to encourage buying, with Dubai closing flat after six days of rises.Saudi Arabia’s benchmark index was flat, with Jabal Omar Development rising 4.1%, snapping three sessions of losses.Dubai’s main share index traded flat, with its largest lender Emirates NBD Bank falling 0.9%.The Abu Dhabi index gained 0.6%, with the country’s large...
Tags: Travel, Saudi Arabia, Wam, Qatar, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Reuters, Reuters Major, Qatar National Bank, Rupert Neil Bumfrey, Industries Qatar, Jabal Omar Development, First Abu Dhabi Bank, Major Gulf


#UAE, #Israel export credit agencies sign agreement to boost trade | Reuters

UAE, Israel export credit agencies sign agreement to boost trade | Reuters The export credit agencies of the United Arab Emirates (UAE) and Israel have signed a cooperation agreement to develop economic relations between the two countries, the UAE’s state news agency WAM said.Etihad Credit Insurance and the Israel Foreign Trade Risks Insurance Corporation (ASHR’A) plan to support jointly exports, trade, and investment between the two countries, WAM said.Since the UAE and Israel agreed to normali...
Tags: Travel, Wam, Israel, Uae, Reuters, United Arab Emirates UAE, Rupert Neil Bumfrey, UAE Israel, Etihad Credit Insurance


#UAE, #Israel Start Talks on Energy Cooperation as Ties Normalize - Bloomberg

UAE, Israel Start Talks on Energy Cooperation as Ties Normalize - Bloomberg Israel and the United Arab Emirates held talks to discuss cooperation in the oil and gas sector, months after the two nations agreed to normalize ties.OPEC’s third-largest oil producer and Israel held their first natural gas and petroleum working group meeting, UAE’s state-run WAM news agency reported on Thursday.The countries discussed ways to develop bilateral relations and cooperation in energy, petroleum and natural ...
Tags: Travel, Wam, Israel, Opec, United Arab Emirates, Uae, Mediterranean, Red Sea, Rupert Neil Bumfrey, Abu Dhabi National Oil Company


#AbuDhabi Plans $122 Billion in Oil Spending to Boost Output - Bloomberg

Abu Dhabi Plans $122 Billion in Oil Spending to Boost Output - Bloomberg Abu Dhabi will invest 448 billion dirhams ($122 billion) in oil and natural gas over the next five years as it seeks to raise production capacity, even while OPEC restricts its output.The Gulf emirate’s top body for energy policy, the Supreme Petroleum Council, approved the budget for Abu Dhabi National Oil Co., the state-run WAM news agency reported on Sunday. The investment plan will contribute to growth and expansion “in...
Tags: Travel, Wam, Opec, Bloomberg, United Arab Emirates, Abu Dhabi, Uae, Gulf, Rupert Neil Bumfrey, Abu Dhabi National Oil Co, Supreme Petroleum Council, Bloomberg Abu Dhabi


Mideast Stocks- Most major stocks rise in Mideast | ZAWYA MENA Edition

Mideast Stocks- Most major stocks rise in Mideast | ZAWYA MENA Edition Most major stock markets in the Middle East ended higher on Sunday, with Saudi leading gains on a rise in financial shares, while Egypt bucked the trend to close lower.By Thursday major Gulf markets had logged weekly gains following positive developments in a COVID-19 vaccine, which boosted hopes of a faster-than-expected global economic recovery.Saudi Arabia's benchmark index increased 0.8% on Sunday, with Al Rajhi Bank1120....
Tags: Travel, Saudi Arabia, Wam, Qatar, Egypt, Middle East, United Arab Emirates, Uae, Gulf, Reuters, Mideast, Dana Gas, Qatar National Bank, Rupert Neil Bumfrey, Al Rajhi, Saudi Electricity


Most major Gulf markets rise; #Qatar shares fall | Reuters

Most major Gulf markets rise; Qatar shares fall | Reuters Most major stock markets in the Gulf traded higher early on Sunday, largely on the back of gains in finance industry shares, while the Qatari index was down, bucking the firmer trend.Saudi Arabia's benchmark index .TASI rose 0.5%, led by a 4.7% jump in utility company Saudi Electricity 5110.SE and a 0.4% increase in Al Rajah Bank 1120.SE.On Thursday, major Gulf markets had logged weekly gains following positive developments in a COVID-19 ...
Tags: Travel, Saudi Arabia, Wam, Qatar, Dubai, Abu Dhabi, Gulf, Reuters, United Arab Emirates UAE, Qatar National Bank, Tasi, Rupert Neil Bumfrey, QSI, Reuters Most, DFMGI, Emaar Properties EMAR DU


Gold Tops UAE’s Non-Oil Trade During First Half of 2020 - Bloomberg

Gold Tops UAE’s Non-Oil Trade During First Half of 2020 - Bloomberg Non-oil trade in the United Arab Emirates amounted to about 658.3 billion dirhams ($179.2 billion) during the first half of 2020, the state-owned news agency WAM reported on Saturday citing the Federal Competitiveness and Statistics Centre. More on the UAE’s trade: Gold topped the list at 104 billion dirhams, or 15.7% of total trade.Imports during the first half were at 378.8 billion dirhams, while the value of exports rea...
Tags: Travel, China, Wam, Bloomberg, United Arab Emirates, Uae, Rupert Neil Bumfrey, Saudi Arabia India


#UAE's loan deferment scheme benefits over 320,000 residents, businesses | ZAWYA MENA Edition

UAE's loan deferment scheme benefits over 320,000 residents, businesses | ZAWYA MENA Edition About 310,000 individuals have benefited from the UAE’s loan deferment initiative since the onset of the coronavirus pandemic, according to the latest statistics.The number of small and medium-sized enterprises (SMEs) and other companies in the private sector who have sought financial relief has also reached at least 11,500.The latest data were mentioned in a report on the Targeted Economic Support Schem...
Tags: Travel, Wam, Uae, UAE Central Bank, Rupert Neil Bumfrey


#UAE cuts spending in 2021 federal budget | Reuters

UAE cuts spending in 2021 federal budget | Reuters The cabinet of the United Arab Emirates approved a smaller federal budget for 2021 in a sign that the country is curbing expenditure amid the coronavirus crisis and lower oil prices.The budget for next year was set at 58 billion dirhams ($15.8 billion), state news agency WAM reported on Sunday, down from this year’s 61.35 billion dirhams, which was the largest budget since the establishment of the country.“The UAE economy will be among the faste...
Tags: Travel, Wam, United Arab Emirates, Dubai, Abu Dhabi, Uae, Reuters, Rupert Neil Bumfrey, Sheikh Mohammed bin Rashid


#UAE central bank announces new regulations regarding licensed financial institutions mandatory reserves system, WAM | Reuters

UAE central bank announces new regulations regarding licensed financial institutions mandatory reserves system, WAM | Reuters The United Arab Emirates Central Bank announced on Thursday that effective Oct. 28, it will introduce new regulations regarding reserve requirements for deposit-taking licensed financial institutions, according to the state news agency (WAM).The introduction of these regulations represents the second step towards implementation of the new Dirham Monetary Framework announ...
Tags: Travel, Wam, Uae, Reuters, Rupert Neil Bumfrey, United Arab Emirates Central Bank, Dirham Monetary Framework


#UAE firms sign agriculture deals in #Israel as pact approved | Reuters

UAE firms sign agriculture deals in Israel as pact approved | Reuters: Israeli irrigation company Netafim has agreed to open an office in the United Arab Emirates, UAE state news agency WAM said, under one of four deals announced on Monday in the wake of a U.S.-brokered pact between the two countries.The deals were made as a UAE business delegation visited Israel, WAM reported, without going into further details.Abu Dhabi-based agriculture firm Al Dahra Holding, whose managing director led the U...
Tags: Travel, Washington, Wam, Israel, Abu Dhabi, Uae, Reuters, United Arab Emirates UAE, Rupert Neil Bumfrey, Netafim, Al Dahra Holding, Watergen


MIDEAST STOCKS-Major Gulf markets gain in early trade | Reuters

MIDEAST STOCKS-Major Gulf markets gain in early trade | Reuters:Major stock markets in the Gulf rose in early trade on Tuesday, with property shares supporting the Saudi index.Saudi Arabia’s benchmark index gained 0.4%, with Jabal Omar Development advancing 3.1% and oil behemoth Saudi Aramco adding 0.7%.Dubai’s main share index rose 0.3%, helped by a 1.3% gain in logistic firm Aramex and a 1.4% increase in shopping malls operator Emaar Malls.In Abu Dhabi, the index added 0.3%, with the country’s...
Tags: Travel, Saudi Arabia, Wam, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Reuters, Saudi Aramco, Aramex, Commercial Bank, Emaar, Rupert Neil Bumfrey, Jabal Omar Development, First Abu Dhabi Bank


#UAE scraps Israel boycott in new step towards normal ties - Reuters

UAE scraps Israel boycott in new step towards normal ties - Reuters:The president of the United Arab Emirates scrapped an economic boycott against Israel, allowing trade and financial agreements between the countries in another key step towards normal ties, the UAE’s state news agency reported on Saturday.Israel and the UAE said on Aug. 13 they would normalise diplomatic relations in a deal brokered by U.S. President Donald Trump that reshapes the order of Middle East politics from the Palestini...
Tags: Travel, Wam, Israel, Tel Aviv, Iran, Middle East, United Arab Emirates, Abu Dhabi, Donald Trump, Uae, Reuters, Khalifa bin Zayed al Nahyan, Ben Gurion Airport, Rupert Neil Bumfrey, Gabi Ashkenazi, El Al Israel Airlines Ltd


#UAE Formally Ends Israel Boycott Amid US-brokered Deal - Bloomberg

UAE Formally Ends Israel Boycott Amid US-brokered Deal - Bloomberg:The ruler of the United Arab Emirates issued Saturday a decree formally ending the country's boycott of Israel amid a U.S.-brokered deal to normalize relations between the two countries.The state-run WAM news agency said the move was made on the orders of Sheikh Khalifa bin Zayed Al Nahyan, the ruler of Abu Dhabi and the Emirates' leader.WAM said the new decree allows Israelis and Israeli firms to do business in the UAE, a federa...
Tags: Travel, Wam, Israel, United Arab Emirates, Abu Dhabi, Uae, Arabian Peninsula, Khalifa bin Zayed al Nahyan, Rupert Neil Bumfrey, Israel Boycott Amid US, Deal Bloomberg


#UAE News: New Stimulus Measures Planned to Bolster Virus-Hit Economy - Bloomberg

UAE News: New Stimulus Measures Planned to Bolster Virus-Hit Economy - Bloomberg:The United Arab Emirates will deliver a three-stage “flexible package” of measures to bolster the economy, including steps to support the labor market and encourage investment, state-run WAM reported on Wednesday.Economy Minister Abdullah bin Touq Al-Marri said the proposals would provide “studied” stimulus packages. The UAE’s central bank had provided more than 256 billion dirhams ($70 billion) of stimulus by March...
Tags: Travel, Saudi Arabia, Wam, Egypt, United Arab Emirates, Uae, Rupert Neil Bumfrey, IHS Markit, Economy Bloomberg, Abdullah bin Touq Al Marri


#UAE May Allow SMEs to Develop Internet Calling Applications - Bloomberg

UAE May Allow SMEs to Develop Internet Calling Applications - Bloomberg:The United Arab Emirates may allow small and medium-sized enterprises to develop internet calling applications, in a sign that it’s easing the government’s monopoly over telephone services.SMEs may be allowed to develop the technology to facilitate remote learning and work, state-run WAM news agency reported, citing a cabinet meeting.The UAE had restricted voice and video calls over the internet until the coronavirus pandemi...
Tags: Travel, Wam, Bloomberg, United Arab Emirates, Uae, Rupert Neil Bumfrey


#UAE announces Sunday as first day of #EidAlFitr 2020 - Arabianbusiness

UAE announces Sunday as first day of Eid Al Fitr 2020 - Arabianbusiness: The UAE will celebrate the first day of Eid al-Fitr on Sunday May 24, after a meeting of the UAE's moon-sighting committee.The state news agency WAM, said the moon-sighting committee announced the news after its meeting tonight at the Abu Dhabi Judicial Department.Sultan bin Saeed Al Badi Al Dhaheri, Minister of Justice, and chairman of the committee, said the committee, after exhausting the sharia methods of sighting the ...
Tags: Travel, Wam, Uae, Shawal, Rupert Neil Bumfrey, Abu Dhabi Judicial Department


MIDEAST STOCKS-Aramco climbs as coronavirus restrictions eased - Agricultural Commodities - Reuters

MIDEAST STOCKS-Aramco climbs as coronavirus restrictions eased - Agricultural Commodities - Reuters:Most bourses in the Middle East closedhigher on Sunday as some countries in the region eased theircoronavirus lockdown rules for the Muslim fasting month ofRamadan, allowing more businesses to reopen and shorteningnight-time curfews.Saudi Arabia's benchmark index ended up 3.5%, withAl Rajhi Bank and oil giant Saudi Aramcoboth rising 3%.Thob Al Aseel soared 10% after reporting anincrease in first-q...
Tags: Travel, Saudi Arabia, Wam, Middle East, United Arab Emirates, Dubai, Mecca, Abu Dhabi, Spa, Salman, Etihad Airways, Emaar Properties, Air Arabia, Rupert Neil Bumfrey, First Abu Dhabi Bank, Agricultural Commodities Reuters


#Dubai imposes two-week lockdown as Gulf states step up coronavirus fight - Reuters

Dubai imposes two-week lockdown as Gulf states step up coronavirus fight - Reuters:Dubai imposed a two-week lockdown Saturday night and Saudi Arabia sealed off parts of the Red Sea city of Jeddah as Gulf states tightened measures in big cities to contain the spread of the coronavirus. FILE PHOTO: Police car patrols Al Ras district, famous for its gold and spice markets, after a full lockdown, following the outbreak of the coronavirus disease (COVID-19), in Dubai, United Arab Emirates, Ma...
Tags: Travel, Saudi Arabia, Wam, United Arab Emirates, Dubai, Jeddah, Gulf, Reuters, Red Sea, DUBAI United Arab Emirates, Interior Ministry, Gulf Cooperation Council GCC, Rupert Neil Bumfrey


#AbuDhabi evictions, car seizures, bank account freezing halted amid Covid-19 impact - Arabianbusiness

Abu Dhabi evictions, car seizures, bank account freezing halted amid Covid-19 impact - Arabianbusiness:Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Monday directed the Abu Dhabi Judicial Department to halt all rental property eviction cases currently underway.Executive procedures like imprisonment, blocking of bank accounts, seizure of vehicles, stocks and assets have also been halted for a period of two months as the coro...
Tags: Travel, Wam, Abu Dhabi, Uae, UAE Armed Forces, Rupert Neil Bumfrey, Abu Dhabi Judicial Department



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