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Emirates Development Bank rated AA-

Fitch Ratings has affirmed the rating of the Emirates Development Bank (EDB) at AA- The bank’s support rating (SR) has been affirmed at ‘1’ and support rating floor (SRF) has been also confirmed at ‘AA-‘, Fitch said. “The advanced ratings confirms the bank’s distinctive performance and reflects the achievements it …

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Oil staff evacuated after missile strike in Iraq

A rocket hit a site in southern Iraq used by foreign oil companies on Wednesday, including U.S. energy giant ExxonMobil, wounding three people and threatening to further escalate U.S.-Iran tensions in the region. There was no immediate claim of responsibility for the attack near Iraq’s southern city of Basra, the …

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Erdogan calls for inquiry into Mursi death

Turkish President Tayyip Erdogan on Wednesday vowed to try to ensure the Egyptian government is tried in international courts for the death of former president Mohamed Mursi, who suffered a fatal heart attack in a Cairo court earlier this week. “Muhammed Mursi flailed on the courtroom floor for 20 minutes …

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Generel visa for Central Asia

Introduction of a single Silk Visa in the territory of the Central Asian region could be the expansion of many-sided beneficial cooperation, the development of the tourism sector, and the strengthening of cultural and economic ties. According to the overwhelming majority of specialists and analysts, the introduction of a single …

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Iran says deadline over for Europeans

Iran said on Wednesday it will start enriching uranium at a higher level in July and won’t give European powers any more time to prevent this move by protecting Tehran from U.S. sanctions. Iran stopped complying in May with some commitments in the 2015 nuclear deal that was agreed with …

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Russia tells US to pull new Mideast troops

Russia told the United States on Tuesday to drop what it called provocative plans to deploy more troops to the Middle East and to cease actions that looked like a conscious attempt to provoke war with Iran. The comments, from Deputy Foreign Minister Sergei Ryabkov to Russian news agencies, followed …

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ADNOC partners with OCI N.V

The Abu Dhabi National Oil Company (ADNOC) today announced a new strategic partnership with OCI N.V, which is a global producer and distributor of natural gas-based fertilisers and industrial chemicals, headquartered in the Netherlands. The partnership will see ADNOC combine its fertiliser business, ADNOC Fertilisers, into OCI’s Middle East and …

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UAW water production project in Yemen

With the support of the UAE, a project to increase water production capacity was launched yesterday in Mocha, on Yemen’s Red Sea Coast. It will serve more than 30,000 residents of the city and neighbouring areas. Mohammed Al Junaibi, Director of Humanitarian Affairs for the Emirates Red Crescent, ERC, in …

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UAE and Ethiopia sign MoU

Dr. Amal Abdullah Al Qubaisi, Speaker of the Federal National Council, FNC, and Keria Ibrahim, Speaker of the House of Federation of Ethiopia, today signed a Memorandum of Understanding, MoU, at the FNC’s headquarters. The MoU, which was signed during a discussion session chaired by Dr. Al Qubaisi and Ibrahim, …

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Sanad Aerotech working with Rolls-Royce

Abu Dhabi’s Sanad Aerotech today announced the conclusion of a landmark agreement with Rolls-Royce plc to become a Rolls-Royce Trent 700 Authorised Maintenance Centre, AMC. Sanad Aerotech is a maintenance, repair and overhaul, MRO, provider for aero engines and industrial gas turbines that is wholly owned by Mubadala Investment Company …

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Attractive Uzbekistan

I am an ordinary young man, my great hobby is travelling. I am at the age of 35 and I have visited more than 50 countries all over the world so far. Recently I have visited Uzbekistan – the pearl of the East. Here I would like to share my …

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Tehran sets deadline for Europe over nuclear deal

The time is short for Europe to save the international nuclear deal with Tehran after Washington’s withdrawal, Iranian President Hassan Rouhani said on Monday, according to Fars news agency. “It’s a crucial moment, and France can still work with other signatories of the deal and play an historic role to …

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Iran and Russia planning OPEC meeting, strategy

Iran’s oil minister is scheduled to meet his Russian counterpart in Iran later on Monday, industry sources said, raising hopes of progress in resolving a month-long impasse over when OPEC and its allies will hold their next policy gathering. The Organization of the Petroleum Exporting Countries and partners including Russia, …

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Iran reiterates position on tankers and Hormuz

Iran’s military denied on Monday being behind attacks on oil tankers in the Gulf of Oman last week, and said if it decided to block Strait of Hormuz, a vital gateway in the Gulf for the oil industry, it will do it publicly. Iran’s Armed Forces Chief of Staff, Major …

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UAE public joint stock companies capital rises by 1%

The capital of public joint stock companies listed by the Securities and Commodities Authority amounted to circa AED412 billion in 2018, a growth of 1 percent on year, according to statistics obtained from official sources. The capital of Abu Dhabi Securities Exchange-listed firms stood at AED94.8 bn, while the Dubai …

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Dubai’s financial roadshow in New York attracts major investor

The Dubai Financial Market, DFM, International Investors Roadshow in New York 2019 has witnessed significant participation from international investment institutions. The roadshow enabled listed companies to hold 81 one-on-one meetings with senior representatives of 35 international institutions, managing approximately US$3.2 trillion in assets. The roadshow was organised last week, in …

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Interest rate swaps on rise in UAE

Ten-year term interest rate SWAPs maintained an upward movement in 2018, spiking to 4.39 percent in mid-November from 3.7 percent in early January before rebounding to 4.15 percent by the end of the year, statistics by the Central Bank of the United Arab Emirates have shown. Interest rate swaps are …

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Pompeo also not keen on Iran war

While it is “unmistakable” that Iran was responsible for the attacks on two tankers last week, the United States does not want to go to war with Tehran, U.S. Secretary of State Mike Pompeo said on Sunday. In an interview with “Fox News Sunday”, Pompeo said, “President Trump has done …

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Netanyahu wife confesses to criminal wrongdoing

Israeli Prime Minister Benjamin Netanyahu’s wife, Sara, appeared in court on Sunday to admit criminal wrongdoing over the misuse of state funds to order catered meals, in a plea bargain carrying no jail time. Under the agreement, a fraud charge was reduced to a lesser offense and she will pay …

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