#China

BMW records first quarterly loss since 2009 on virus impact

BMW shares have lost more than a fifth this year

Kuwait Airways

Kuwait issues guidelines to permit entry of people from banned countries

Last week, the cabinet agreed to resume flights from Kuwait International Airport in three phases

china oman

Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

China’s state-owned oil giant is reportedly conducting advanced discussions with BP for a 10 per cent stake in the Khazzan natural gas field

DIFC

China strengthens fintech cooperation with Dubai through new agreement with DIFC

Jiaozi Fintech Dreamworks and DIFC will collaborate on key sectors such as blockchain, artificial intelligence, big data and cloud computing

UAE Hope Probe

UAE’s launch kicks off a trio of Mars missions as planet draws close

The UAE launched its mission on Sunday, with the US and China to follow later this month and next

Chinese School Dubai

First Chinese national curriculum overseas school to open in Dubai this September

Located in Mirdif, the school will be the the first overseas Chinese school to receive financial support from the Chinese government

Expo 2020 Dubai appoints China’s Terminus as official robotics partner

The technology firm will set up its first headquarters outside China at District 2020

China Innoway to set up regional office in Dubai's DMCC free zone

China’s Innoway to set up an office in DMCC to spur Dubai’s tech startup ecosystem

Innoway, dubbed China’s Silicon Valley, has incubated over 3,400 startups and raised approximately Dhs4.7bn

Oil extends drop with virus milestones spurring demand angst

A surge in cases across the southern and western US is causing states to reinstate measures, threatening the outlook for oil demand

An epidemic of contaminated waste is following the coronavirus

Manila in the Philippines produced an additional 280 tons a day of medical trash, while Jakarta generated 212 tons

Oil falls again with virus resurgence casting doubt on demand

US gasoline futures tumbled the most in two months amid fears that lockdowns may need to be re-imposed

Covid-19 vaccine trials

UAE begins world’s first phase III clinical trial of Covid-19 vaccine

If successful, the vaccine could enter the market by the end of 2020 or early 2021

Mubadala to double down on tech after $1.2bn Jio stake

The $232bn fund is looking at India, China and Southeast Asia for potential investments

UAE ranks 19th in FDI confidence index backed by strong investor sentiment

China, Brazil and the UAE were the only three emerging economies that ranked on the index

Oil holds near $42 while investors weigh demand against virus

Brent futures for August settlement gained 3 cents to $42.22 a barrel on the ICE Futures Europe exchange as of 12.03pm in Singapore

Oman steps up plan to build Middle East’s biggest oil-tank farm

Oman Tank Terminal Co. (OTTCO) has almost finished constructing eight tanks to store crude for a new refinery near the town of Duqm on the Arabian Sea

Second wave virus concerns loom large over crude oil market

While oil has rebounded rapidly since April as OPEC+ production cuts kicked in and US output fell, the rally fizzled last week

saudi arabia riyadh

Saudis cut July oil supply to some Asian buyers by up to 40%

The cuts were widespread across the region from South Asia and Southeast Asia to some parts of North Asia

Oil falls for a third day with second-wave virus risks in focus

Futures in New York fell below $35 a barrel after losing 8.3 per cent last week

Abu dhabi uae capital flag

UAE’s non-oil trade totals Dhs1.603 trillion in 2019

The UAE’s non-oil trade in 2019 grew 4.4 per cent from Dhs1.536 trillion in 2018

Google says China, Iran targeted American presidential campaigns

Google has alerted the respective campaigns and law enforcement agencies

Saudis make biggest oil price hike in 20 years after OPEC+ cuts

Brent crude, down 36 per cent this year, has clawed back some of its losses and ended trading on Friday at more than $40 a barrel

Chinese tech giants may soon be expelled from the US stock market

A proposed new law will require companies listed on American stock exchanges to demonstrate that they are not owned or controlled by a foreign government

Oil anchored near $33 a barrel amid rising US-China tensions

Oil has surged about 75 per cent this month as pockets of demand return

Why Covid-19 is leading to a digital transformation in healthcare

The pandemic will prompt authorities to re-examine the robustness of their healthcare systems, says Damien NG, PhD, Next Generation Research at Julius Baer

Abu Dhabi’s main refinery makes China sales push after servicing

Prior to the pandemic, the plant had been mostly targeting Europe for sales of low-sulfur diesel and jet fuel

Saudi signs $265m deal with China to fight virus

The deal will provide the Saudis nine million kits with a capacity to test 50,000 people per day

Saudi mulls granting visa-free access to visitors from certain nations

Last week, Saudi Arabia’s cabinet approved electronic visas for foreign visitors to attend sporting events and concerts

Qatar’s Wealth Fund Expands In China, Eyes New Investments

The fund is best known for European investments including the acquisition of London department store Harrods.

Top 10 Largest Aluminium Smelters In The World

Two from the UAE and one from Bahrain feature on the list of the world’s largest smelters by capacity.