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#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


UAE announces candidacy for U.N. Security Council seat

The United Arab Emirates on Tuesday announced its candidacy for a two-year term on the U.N. Security Council in 2022-2023, the state news agency WAM said. The announcement came in a statement made by the minister of foreign affairs and international cooperation, Sheikh Abdullah bin Zayed, at the annual U.N. General Assembly in New York. The Security Council is the only U.N. body that can make legally binding decisions like imposing sanctions and authorising the use of force.
Tags: New York, News, Wam, United Arab Emirates, Uae, Security Council, U N General Assembly, U N Security Council, Abdullah bin Zayed


Coronavirus Australia live update: Victoria reports 35 new cases and NSW four as Paul Keating appears at aged care royal commission

Victoria to turn roads and footpaths into dining spaces to help hospitality industry as Queensland border row deepens. Follow all today’s newsPaul Keating appears before aged care inquiryQueensland man’s daughter writes open letter to PMFollow our global coronavirus live blogLatest NSW Covid-19 hotspotsLatest Queensland hotspots 4.21am BST New Zealand is having its own version of border wars, but as always, seem to just be doing it better.Via AAP:Travelling around the South Island has reinfo...
Tags: Health, Australia, Senate, Wam, Australia news, Infectious Diseases, Coalition, Australian politics, Queensland, New South Wales, Sydney, Queensland politics, New Zealand, Brisbane, Victorian politics, New South Wales politics


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


Trump Announces Israel, UAE Agree To Establish Full Diplomatic Ties

DUBAI, United Arab Emirates (AP) — President Donald Trump said on Thursday that the United Arab Emirates and Israel have agreed to establish full diplomatic ties as part of a deal to halt the annexation of occupied land sought by the Palestinians for their future state. The announcement makes the UAE the first Gulf Arab state to do so and only the third Arab nation to have active diplomatic ties to Israel. Trump tweeted a statement from the countries, acknowledging the deal. He then told repo...
Tags: News, Washington, White House, Wam, Israel, Joe Biden, Iran, Ap, Afghanistan, Egypt, Gaza, Middle East, West Bank, United Arab Emirates, Dubai, Slovenia


#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


Coronavirus live news: India and Pakistan to reimpose local lockdowns amid new rise in cases

Covid-19 mutation increases chance of infection, says study; Beijing locks down 10 residential compounds amid new outbreak; Iran deaths top 100 for first time in two monthsWHO cautions against further lifting of lockdown in EnglandGermany and France reopen borders as continent emerges from lockdownRepublican coronavirus scepticism may shift as cases rise in Trump statesUK coronavirus updates - liveSee all our coronavirus coverage 6.26pm BST More than 100 cases of Covid-19 have been officiall...
Tags: Europe, Science, France, China, Wam, India, Africa, Americas, UK News, World news, Australia news, US news, Iran, Beijing, Asia Pacific, Middle East and North Africa


#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


Abu Dhabi announces partial refund for restaurant and tourism property leases

Abu Dhabi has announced a 20% refund on annual commercial property leases for restaurants and for tourism and entertainment facilities, state news agency WAM reported on Monday.
Tags: Money, Wam, businessNews, Abu Dhabi


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


Saudi Arabia announces start of Ramadan after sighting moon

Saudi Arabia and some other Muslim-majority nations, including Egypt, the United Arab Emirates and Jordan, declared that the holy month of Ramadan — when the faithful observe a dawn-to-dusk fast — would begin on Friday, based on a moon-sighting methodology. The Saudi statement came on the kingdom's state-run Saudi Press Agency while the Emiratis made the announcement through their state-run WAM news agency. Oman said the fasting month will begin on Saturday as the sultanate's religious authori...
Tags: News, Saudi Arabia, Wam, Egypt, United Arab Emirates, Oman, Muslim, Jordan, Saudi Press Agency


#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


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

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. Dubai had been under an overnight curfew along with the rest of United Arab Emirates since March 26 but its Supreme Committee of Crisis and Disaster Management said the lockdown would now run around the clock for two weeks, state news agency WAM said.
Tags: News, Saudi Arabia, Wam, United Arab Emirates, Dubai, Jeddah, Gulf, Red Sea


#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


#UAE to suspend all passenger flights for two weeks - Arabianbusiness

UAE to suspend all passenger flights for two weeks - Arabianbusiness:The United Arab Emirates announced on Monday it will temporarily suspend all passenger and transit flights amid the novel coronavirus outbreak. The Emirati authorities "have decided to suspend all inbound and outbound passenger flights and the transit of airline passengers in the UAE for two weeks as part of the precautionary measures taken to curb the spread of the Covid-19", reported the official state news agency, WAM.It sai...
Tags: Travel, Wam, United Arab Emirates, Dubai, Abu Dhabi, Uae, Rupert Neil Bumfrey


MIDEAST STOCKS-Gulf stocks slide as virus-related lockdowns deepen recession fears - Reuters

MIDEAST STOCKS-Gulf stocks slide as virus-related lockdowns deepen recession fears - Reuters:Stock markets in the Middle East dropped on Monday as a rising number of lockdowns in the region and elsewhere worsened fears of a deep, coronavirus-driven global recession.In Abu Dhabi, the index declined 3.1%. Top lender First Abu Dhabi Bank fell 3.3%, while Emirates Telecommunications was down 4.3%.The United Arab Emirates suspended all passenger and transit flights to and from the country for two wee...
Tags: Travel, Wam, Middle East, United Arab Emirates, Dubai, Abu Dhabi, Uae, Civil Aviation Authority, Reuters, Sheikh Mohammed bin Rashid al Maktoum, Rupert Neil Bumfrey, First Abu Dhabi Bank, National Emergency, Emirates Telecommunications


MIDEAST STOCKS-Most Gulf stocks resume retreat; Egypt extends gains - Reuters

MIDEAST STOCKS-Most Gulf stocks resume retreat; Egypt extends gains - Reuters:Most stock indexes in the Gulf closedlower on Sunday, with Abu Dhabi leading the losses, as measuresby central banks to stem a coronavirus-induced financial routfaded, though Egypt extended gains.  More than 305,000 people have been infected by coronavirusacross the world and more than 13,000 have died, according to aReuters tally.In Abu Dhabi, the index declined 3.6%, dragged downby a 4.4% slide in top lender First...
Tags: Travel, Wam, Egypt, United Arab Emirates, Abu Dhabi, Uae, Gulf, Reuters, Rupert Neil Bumfrey, First Abu Dhabi Bank, Etisalat Dubai, Emaar Propertiestumbling


UPDATE 1- #UAE banks ease pressure on core industries as social restrictions tighten - Reuters

UPDATE 1-UAE banks ease pressure on core industries as social restrictions tighten - Reuters:Banks in the United Arab Emirates announced a raft of measures on Saturday they said would benefit the biggest contributors to the economy as the country announced its first deaths linked to the coronavirus pandemic.Aviation, hospitality, healthcare, retail, event management, consumer goods and education would be prioritised by the banks, which will reschedule or delay loan payments, reduce instalments a...
Tags: Travel, Wam, United Arab Emirates, Dubai, Uae, Reuters, Mashreq, Rupert Neil Bumfrey, Abu Dhabi Islamic Bank ADIB


BRIEF- #UAE banks to ease pressure on customers hit by virus -WAM news agency - Reuters

BRIEF-UAE banks to ease pressure on customers hit by virus -WAM news agency - Reuters: State news agency WAM: * UAE’S EMIRATES NBD, DUBAI ISLAMIC, MASHREQBANK AND COMMERCIAL BANK OF DUBAI TAKE MEASURES TO EASE ECONOMIC PRESSURES ON CUSTOMERS DUE TO CORONAVIRUS FROM APRIL 1 TO JUNE 30 * PRIORITY IN GRANTING SUPPORT MEASURES FOR MAIN SECTORS THAT CONTRIBUTE TO STATE ECONOMY, INCLUDING HEALTHCARE, AVIATION, HOSPITALITY, RETAIL, EVENT MANAGEMENT, CONSUMER GOODS AND EDUCATION * MEASURES...
Tags: Travel, Wam, Dubai, Uae, Reuters, Rupert Neil Bumfrey


#UAE suspends entry of valid residence visa holders abroad over coronavirus concerns - Reuters

UAE suspends entry of valid residence visa holders abroad over coronavirus concerns - Reuters:United Arab Emirates will suspend entry of valid residence visa holders who are still abroad starting at noon on Thursday for two weeks, over coronavirus concerns, state news agency WAM said on early Thursday.The UAE has recorded 113 cases on the flu-like disease. [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Wam, United Arab Emirates, Uae, Reuters, Rupert Neil Bumfrey