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Global Economy Better Positioned In 2020

After a challenging 2019, the global economy is in better shape for 2020 with energy demand remaining robust according to Dr Sultan Al Jaber, Minister of State and Adnoc group chief executive. Al Jaber was speaking at the Atlantic Council Global Energy Forum held in Abu Dhabi, as hundreds of delegates including government officials and industry leaders convened together to ...

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Value Of Non-oil Trade Between UAE, Japan Totalled AED481.34 Billion Over 10 Years

According to statistics from the Ministry of Economy, the total value of non-oil trade between the UAE and Japan reached AED481.34 billion or US$130.8 billion over the past ten years from 2009 to 2019. These statistics highlight the growing trade and economic relations between the two countries, with the value of their overall trade in the first half of 2019 reaching ...

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Indonesia, UAE Sign Business Deals

Indonesia signed 11 business deals with the United Arab Emirates worth a combined 314.9 trillion rupiah ($23 billion) covering investment in energy and other sectors. The deals were signed between Abu Dhabi Crown Prince Sheikh Mohammed Bin Zayed and President Joko Widodo during an official visit to Abu Dhabi. Widodo, who began his second term in office in October, is keen for an increase in ...

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Japan’s Abe Meets Saudi King Amid Threats In Persian Gulf

Japanese Prime Minister Shinzo Abe was in Saudi Arabia for talks with King Salman recently as part of a tour of oil-producing Gulf Arab states aimed at promoting peace amid a spike in tensions between the U.S. and Iran. Japan has a deep alliance with the United States, but it also has ties with Iran, which until 2017 supplied Japan with about ...

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China’s Vice Premier Coming To Washington To Sign Trade Deal

  China’s economy czar will visit Washington next week for the signing of an interim trade deal, the government said. Vice Premier Liu He, Beijing’s chief envoy in talks with Washington over their tariff war, had been expected to attend the signing but the Commerce Ministry’s statement was the first official confirmation. Washington postponed planned tariff increases following the announcement of ...

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German Industrial Production Posts Biggest Increase In 1-1/2 years

According to data, German industrial output posted its biggest increase in 1-1/2 years in November, in a sign that Europe’s largest economy gained momentum in the fourth quarter. Industrial production rose by 1.1% on the month, beating expectations for a 0.7% rise, figures from the statistics office showed. That was driven by stronger production in manufacturing and booming construction. Germany’s export-dependent ...

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Trade Links With Asia Contribute To 19.8% Increase In Freight For African Carriers

The International Air Transport Association (IATA) in its November 2019 data for global air freight markets demand has recorded an increase in demand for African carriers by 19.8 percent, compared to the same period a year earlier. Strong trade and investment links with Asia contributed to positive performance. Capacity grew 13.7 percent year-on-year. The demand, measured in freight tonne kilometres (FTKs), ...

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ICT Sector In Africa Continues To Grow

The Information and communication technologies (ICT) sector in Africa has continued to grow, a trend that is likely to continue. Of late, mobile technologies and services have generated 1.7 million direct jobs (both formal and informal), contributed to $144 billion of economic value (8.5 percent of the GDP of sub-Saharan Africa), and contributed $15.6 billion to the public sector through ...

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Malta Launches New Strategy For Africa Focused On ‘Trade, Development And Diplomacy’

A strategy for strengthening relations between Malta and the continent of Africa was launched for public consultation, highlighting the already established connections between Europe’s smallest member state and the second-largest continent in the world. The strategy, which seeks to guide Malta’s path forward between 2020 and 2025, seeks to deepen and strengthen the relationship between Malta and Africa, as a union ...

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Absa Gets Miga Guarantees To Reduce RWA Across Africa

Absa has signed a deal with the Multilateral Investment Guarantee Agency (Miga) which will enable it to reduce the regulatory risk weighting of mandatory reserves held by its subsidiaries across sub-Saharan Africa, thus freeing up lending capacity. Absa’s subsidiaries outside of South Africa are required to maintain reserves at the central banks in their respective jurisdictions, based on the volume of ...

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