#China

Shanghai

UAE’s First Abu Dhabi Bank to open first mainland China branch

FAB will offer both RMB and foreign currency business onshore in China through its new branch in Shanghai

OPEC+ warns of response as Biden poised for oil reserve release

The Organization of Petroleum Exporting Countries and its allies will meet on December 2

Oil extends drop as investors assess reserve release, Covid wave

Oil rallied to the highest level since 2014 in October but has faltered over the past month

Qatar orders six gas ships from South Korea to boost exports

LNG is seen as an important substitute for fuels such as oil and coal

Expo 2020 Dubai pavilions: Sweden, Kuwait, China, Canada, Belgium, Mexico, Pakistan, Sierra Leone

Here’s a list of eight participating country pavilions and their offerings

Oil drops at start of key week as Biden boosts pressure on OPEC+

Crude has soared this year, with production trailing supply as the global economy recovered from the impact of the pandemic

Brent oil rises above $85 as Saudi Arabia vows caution on supply

Oil has more than doubled over the past 12 months as the global economy rebounded from the dislocation caused by the coronavirus pandemic

The US replaces China as world’s biggest Bitcoin miner

At the end of August, America accounted for 35.4 per cent of the global hash rate

Chinese regulators are serious about banning crypto this time

Authorities said crypto transactions in China are banned and they will root out mining of digital assets

Terminus Group_MENA headquarters

Terminus Group inaugurates MENA headquarters in Dubai

Terminus Group was announced by Expo 2020 Dubai as the only official premier partner from China

Gold edges higher as havens rally on growing Evergrande fears

The traditional haven has lost 8 per cent this year

UAE’s Mashreq opens first representative office in Shanghai

With the new office, Mashreq now operates in 13 countries, including the UAE

china-arab states expo

China-Arab States Expo closes with $24bn worth of deals

The fifth edition of the biennial China-Arab States Expo was held in China’s Ningxia Hui Autonomous Region from August 19-22

Oil heads for longest run of losses since March on virus, dollar

The delta variant has spurred fresh curbs on mobility in many nations including China, harming energy consumption

Bitcoin roars back, putting $100,000 predictions in vogue again

The world’s largest cryptocurrency is staging a comeback that has taken it up more than 50 per cent from recent lows

Oil climbs from three-week low as traders assess demand outlook

Delta has raised concerns about the short-term demand outlook

Renewable energy investment rose to a record in first half

Investment in solar projects was up 9 per cent to a record $78.9bn in the first half

Oil holds decline as investors track delta’s spread across China

West Texas Intermediate was slightly higher after slumping 3.6 per cent on Monday

UAE builds waste-to-energy plant to manage growing trash

Dubai is constructing a $1.1bn facility that will burn garbage to generate power

Bitcoin surges amid short covering, speculation over Amazon plan

Bitcoin remains some $27,000 off its mid-April high of almost $65,000

Brent oil extends gain as OPEC+ talks end without supply deal

The global market has tightened significantly over the past few months amid a robust rebound in fuel demand in the US, China and parts of Europe

Tesla delivered a record 201,250 cars in second quarter

Quarterly deliveries are one of the most closely watched indicators for Tesla

Bitcoin leads broad crypto rally after defense of $30,000 level

The digital currency had reached a record near $65,000 in mid-April

Tesla dealt big blow as almost all cars in China need safety fix

In most cases, the fix should be able to be made remotely with an online update to the cars’ active cruise control feature

China crypto clampdown sends bitcoin closer to key $30,000 level

Bitcoin has roughly halved from a record of $65,000 in mid-April

Brent oil edges above $75 as investors assess tightening market

Brent oil has rallied more than 40 per cent this year as a strong rebound from the pandemic in the US, China and Europe underpins increasing fuel consumption

Global power grids pushed to breaking point

The extreme weather highlights the real world impact of climate change

Global food costs surge to decade high as drought parches crops

A United Nations gauge of world food costs climbed for a 12th straight month in May

China’s Sinovac shot cleared for wider global use by the WHO

The WHO recommended its use for people aged 18 and older in a two-dose schedule with a spacing of two to four weeks between shots

Oil steady near highest since 2018 with Saudis upbeat on demand

Oil is up 40 per cent this year as the recovery from the pandemic in the US, China and parts of Europe boosts the outlook for fuel consumption