Major oil producing nations must “move quick” to cut output, or risk many years of low oil prices. That’s according to former Qatari Oil Minister Abdullah bin Hamad Al Attiyah who says simply freezing production at current levels is not enough. Speaking on the sidelines of an event for the Gulf Petrochemicals and Chemicals Association, he told ARN News that oil producers need to take action now.
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UAE cuts key interest rate by 25 basis points
The Central Bank of the UAE (CBUAE) has decided to cut the Base Rate applicable to the Overnight Deposit Facility (ODF) by 25 basis points, from 4.15 per cent to 3.90 per cent, effective from Thursday, October 30.
UAE-based companies contribute to $28 billion investments to Syria
Syrian President Ahmed Al-Sharaa announced that the country has attracted approximately $28 billion in investments during the first six months of this year, highlighting significant participation from companies based in the UAE, Saudi Arabia, and Qatar.
H.H. Sheikh Mohammed highlights expansion of economic ties with Africa
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has emphasised the UAE's commitment to strengthening economic ties with African nations.
Abu Dhabi Airports posts strong passenger, cargo growth
Abu Dhabi Airports has reported its 18th consecutive quarter of double-digit passenger growth.
New deal with Microsoft values OpenAI at $500 billion
Microsoft and OpenAI reached a deal to allow the ChatGPT maker to restructure itself into a public benefit corporation, valuing OpenAI at $500 billion and giving it more freedom in its business operations.
