Abu Dhabi ports have seen a 15.7% increase in non-oil trade during the second quarter of this year. Figures released by the emirate’s statistics centre show a surge in foreign demand for precious metals. It comes as analysts predict GCC economies to grow by 3.4% in 2015. Due to falling oil prices, countries with fewer financial buffers are witnessing problems related to low growth performance. Saudi Arabia and the UAE are less impacted, with strategies under way to promote non-oil trade.
Expo City Dubai issues UAE’s first green licences
Expo City Dubai has issued its first 'Green Licences' to six businesses, including small-sized social enterprises and multinational organisations, as it works towards establishing its Green Innovation District.
ADNOC Distribution to acquire South African fuel network in $1 billion deal
ADNOC Distribution will fully acquire Shell Downstream South Africa (SDSA) in a $1 billion deal that will allow the Abu Dhabi company to own its 580 fuel sites.
US judge rejects Elon Musk's bid to set aside Twitter fraud verdict
A federal judge on Monday rejected Elon Musk's bid to void a jury verdict finding that the world's richest person defrauded Twitter investors by trying to drive down the social media company's stock price after agreeing to a $44 billion takeover.
OPEC+ approves further output increase as Hormuz exports start to recover
OPEC+ has agreed a further increase in output targets from August, the group said in a statement on Sunday, adding to global supply at a time when oil prices are falling due to the gradual reopening of the Strait of Hormuz for oil exports.
UAE thwarts advanced cyberattacks targeting financial sector
The UAE Government's Cyber Security Council (CSC) said on Friday it has successfully countered a series of advanced cyberattacks targeting the country's financial sector.
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