Browsing: Business

Dubai Aerospace Enterprise (DAE) revealed today that its Board of Directors and Shareholders have approved an additional $300 million for bond repurchases through open market transactions. This move follows DAE’s previous repurchases of around US$1.13 billion of principal amount of

Abu Dhabi Ports (AD Ports) Group has launched a new weekly container shipping service from Khalifa Port in the UAE to Shuwaikh Port in Kuwait to improve connectivity and facilitate trade between the two countries. The inaugural visit of the

Gold prices remained close to one-year highs on Friday, fueled by recent US economic data that suggested the Federal Reserve may be nearing the end of its rate-hiking cycle. This drove non-yielding bullion towards a second consecutive weekly increase. Spot

Emirates Global Aluminium (EGA) has announced its collaboration with the Heavy Industry Low-carbon Transition Cooperative Research Centre (HILT CRC) to advance research in the decarbonization of alumina refining. HILT CRC is an Australian cooperative research center that brings together industry,

The International Monetary Fund (IMF) has provided over $24 billion in interest-free loans to more than 50 low-income countries since the COVID-19 pandemic. The resource adequacy of the Poverty Reduction and Growth Trust (PRGT), Resilience and Sustainability Trust (RST), and

Gold prices have surged past $2,000 an ounce, scaling one-year highs, as the US dollar and yields weakened. This follows weaker-than-expected US economic data, which reinforces bets for a slowdown in the pace of interest rate hikes despite growing concerns

Switzerland’s Federal Prosecutor is investigating potential breaches of criminal law by officials involved in the state-backed takeover of Credit Suisse by UBS Group, which was announced last month. The prosecutor’s office is examining the deal for any evidence of wrongdoing

Saudi Arabia and other OPEC+ oil producers announced further oil output cuts of around 1.16 million barrels per day on Sunday, ahead of a virtual meeting of an OPEC+ ministerial panel. The unexpected move takes the total volume of cuts

Global sales of heat pumps grew by 11% in 2022, according to the latest International Energy Agency (IEA) analysis, marking a second year of double-digit growth for the central technology in the world’s transition to secure and sustainable heating. Increased

TRUST International Group, a defence trading specialist and major supplier of premium solutions to the UAE Armed Forces and security establishments, has been acquired by EDGE Group. TRUST will become part of EDGE’s Trading and Mission Support cluster, complementing the