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Gold steady in Asia with traders digesting cooling US Inflation

Gold steady in Asia with traders digesting cooling US Inflation

Bullion initially jumped on August 10 after the US consumer price index decelerated by more than expected in July

New generation UAE passport to be issued from Sept 1

UAE to issue new generation of Emirati passports from September 1

The passports of the previous generation are considered valid and their holders can use them for travel until the expiry date of the passport approaches

COVID CASES AUGUST 11

UAE reports 861 new Covid cases, 887 recoveries

The Covid-19 nationwide case count has risen to 1,002,306

Covid cases August 10

UAE reports 889 new Covid cases, total crosses one million

The Covid-19 nationwide case count has risen to 1,001,445

Oil steadies as Traders weigh Russian pipeline halt, stockpiles

Oil steadies as Traders weigh Russian pipeline halt, stockpiles

West Texas Intermediate held above $90 after edging higher on August 9

Elon Musk sells $6.9bn of Tesla shares, first since April

Elon Musk sells $6.9bn of Tesla shares, first since April

Musk has now sold around $32bn worth of stock in the electric-car maker in the past 10 months

covid cases aug 9

UAE reports 919 new Covid cases, 859 recoveries

The Covid-19 nationwide case count has risen to 1,000,556

Syed Basar Shueb, IHC’CEO

International Holding Company’s H1 2022 net profit rises 137 per cent to Dhs10.35bn

The holding company’s revenue grew by 121 percent to Dhs21.93bn in the first six months of 2022

Covid cases August 8

UAE reports 923 new Covid cases, 895 recoveries

The Covid-19 nationwide case count has risen to 999,637

SoftBank reports record $23.4bn loss as holdings tumble

SoftBank reports record $23.4bn loss as holdings tumble

The Vision Fund segment posted a loss of 2.33 trillion yen in the three months ending June 30, following a then-record 2.2 trillion yen loss in the previous quarter

Oman posts $2bn surplus in first half on high oil, gas

Oman has implemented a series of reforms to balance its budget and lower its debt, including the introduction of value-added tax last year

Oil steadies as Traders weigh Russian pipeline halt, stockpiles

Oil extends 10% weekly drop as demand concerns spur caution

Investors have backed away from commodities in recent months as slowing growth feeds concern that energy usage will drop

Hamad Buamim, President and CEO, Dubai Chamber steps down

Hamad Buamim to step down as president and CEO of Dubai Chambers

Hassan Al Hashemi has been appointed to the role of president and CEO in an acting capacity

Covid cases August 5

UAE reports 998 new Covid cases, 989 recoveries

The Covid-19 nationwide case count has risen to 996,775

Saudi Arabia raises oil prices for Asia to record levels

State producer Saudi Aramco increased its Arab Light grade for next month’s shipments to Asia to $9.80 a barrel

Covid cases today

UAE reports 1,084 new Covid cases, 890 recoveries

The Covid-19 nationwide case count has risen to 995,777

Shell records strong performance in second quarter, adjusted earnings of almost $11.5bn

$6bn share buybacks are expected to be completed by Q3 2022 results

OPEC+meeting

OPEC+ agrees to increase 100,000 barrels a day for September oil production

For July and August, the group had pledged to add more than 600,000 barrels a day to the market

UAE signs treatyUAE signs treaty at ASEAN meet courtesy WAM at ASEAN meet

UAE signs ASEAN’s Treaty of Amity and Cooperation

The peace treaty was signed at the ongoing 55th Foreign Ministers Meeting of the Association of Southeast Asian Nations in Cambodia

Dubai Smart Police Stations process 48,462 transactions in H1 2022

Smart Police Stations in all of its editions – SPS, drive-thru and walk-in, also welcomed 413,540 customers during the same period

Covid cases August 3

UAE reports 1,009 new Covid cases, 989 recoveries

The Covid-19 nationwide case count has risen to 994,693

Gold holds drop after US Jobs data support rate-hike outlook

Gold advances as traders weigh US-China tensions, hawkish Fed

Gold climbed as the dollar and bond yields retreated, with investors assessing US-China tensions and an apparent hawkish turn from the Federal Reserve

Oil declines as OPEC+ decision on production takes center stage

Oil declines as OPEC+ decision on production takes center stage

Ahead of the OPEC+ session, the American Petroleum Institute reported that US crude stockpiles expanded by more than 2 million barrels

Covid-19

UAE reports 1,032 new Covid cases, 965 recoveries

The Covid-19 nationwide case count has risen to 993,684

OPEC Haitham Al Ghais

Haitham Al Ghais takes office as OPEC Secretary General

He was appointed for a three-year term at the special meeting of the OPEC Conference held on January 3

Asia’s richest men prep for battle as Adani enters Ambani’s turf

Asia’s richest men prep for battle as Adani enters Ambani’s turf

Gautam Adani had overtaken Mukesh Ambani as Asia’s richest man a few months earlier

Sheikh Hamdan announces restructuring of Dubai Municipality

Sheikh Hamdan announces restructuring of Dubai Municipality

Dubai Municipality will feature four new agencies, facilitate enhanced governance, privatise eight main activities and create Dhs10bn worth of new economic opportunities

UAE reduces fuel price in August

UAE reduces fuel prices for August 2022

The price of Super 98 has been reduced to Dhs4.03 per litre in August

Hfza and Rafid Auto sign Mou

Sharjah’s Hamriyah Free Zone, Rafid partner to set up integrated technical centre for auto services

The integrated technical centre within the free zone will provide vehicle repair, maintenance, inspection, as well as registration services and roadside assistance

Abu Dhabi pharmacies to give Covid vaccine and PCR tests

Abu Dhabi pharmacies will offer free Covid vaccines and Dhs40 PCR tests

Several pharmacies have successfully completed courses certified by DoH to administer these vaccinations