Traders on Wall Street are awaiting a meeting of the US Federal Reserve this Tuesday and Wednesday. Few expect interest rates to be raised though. The Federal Open Markets Committee statement this week comes as a slew of big firms post their quarterly earnings, including tech giant Apple. Microsoft, Amazon and Alphabet, formally Google, all posted better than expected earnings last week and Apple is expecting revenue to be in the range of AED 179 – 183 billion.
FNC proposes Euro-Mediterranean and Gulf AI hub at economic forum
The UAE's Federal National Council (FNC) has proposed the creation of a Euro-Mediterranean and Gulf artificial intelligence hub to boost investment, research and cooperation in one of the world's fastest-growing sectors.
UAE calls for stronger Euro-Mediterranean, Gulf cooperation
Federal National Council Speaker Saqr Ghobash has called for closer economic and parliamentary cooperation between Euro-Mediterranean and Gulf countries to help address rapid technological and economic change and support sustainable development.
Dubai's DGCX to launch region’s first Gold Spot T+0 Contract
The Dubai Gold and Commodities Exchange (DGCX) is set to launch a new same-day gold trading contract on Monday, June 22, in a move aimed at making physical gold transactions faster and more efficient.
AD Ports launches new logistics link between UAE and Iraq
AD Ports Group has launched integrated logistics services connecting Khalifa Port with Umm Qasr Port in Iraq, reinforcing commitment to enhancing regional connectivity and supporting existing trade corridors.
Kuwait plans to boost oil output to 2 million bpd in a week
Kuwait Petroleum Corporation (KPC) has plans to raise the country's oil production to two million barrels per day (bpd) within a week, amid the reopening of the Strait of Hormuz under a US-Iran peace agreement, said KPC's Deputy Chairman and CEO, Sheikh Nawaf Saud Al-Sabah.
Dubai Humanitarian has facilitated a third emergency aid airlift to support efforts to contain the Ebola outbreak in the Democratic Republic of the Congo.
Rest areas will be provided for delivery riders at select bus and metro stations across Dubai to support them during the UAE's mid-day break.
The UAE has strongly condemned the shooting incident at a school in the city of Tacloban, southeast of Manila, that left three students dead and seven others injured.
