OPEC daily basket price stood at $65.09 a barrel Monday

VIENNA, The price of OPEC basket of thirteen crudes stood at $65.09 a barrel on Monday, 3rd May, compared with $65.42 the previous Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), … Read more

UAE announces 1,699 new COVID-19 cases, 1,686 recoveries, 2 deaths in last 24 hours

ABU DHABI, The Ministry of Health and Prevention, MoHAP, announced that it conducted 179,453 additional COVID-19 tests over the past 24 hours, using state-of-the-art medical testing equipment. In a statement, the Ministry stressed its aim to continue expanding the scope of testing nationwide to facilitate the early detection of coronavirus cases and carry out the … Read more

Emirates NBD, Etihad Credit Insurance sign agreement to ease bank’s businesses access to trade finance

DUBAI, Etihad Credit Insurance (ECI), the UAE Federal export credit company, and Emirates NBD have signed an agreement that will improve the liquidity of UAE exporters and businesses and enhance their global competitiveness. The agreement follows the Memorandum of Understanding (MoU) signed in 2019 between Massimo Falcioni, CEO of Etihad Credit Insurance, and Ahmed Al … Read more

Sharjah Islamic Bank operating profits increases by 27% in Q1 2021

SHARJAH, The operating profits of Sharjah Islamic Bank (SIB) has increased before provisions amounting to AED 212.2 million in Q1 2021, compared to AED 167.2 million for the same period last year, with an increase of 26.9 percent. According to the bank’s financial statement, net profit for the three months ended 31st March 2021 amounted … Read more