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UAE leaders congratulate President of India on Independence Day

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a congratulatory message to Indian President Droupadi Murmu on the occasion of her country’s Independence Day, which is celebrated on August 15. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His ...

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Dubai Airports raises AED950,000 for Dubai Cares in support of P2E

DUBAI / WAM To mark International Youth Day, Dubai Airports has raised nearly AED950,000 in support of the ‘Passport to Earning’ (P2E) programme that was launched in partnership with Dubai Cares, Microsoft, Accenture and UNICEF at the RewirEd Summit during Expo 2020 Dubai. Operated by Generation Unlimited, a global multi-sector partnership that enables youth to become productive and engaged members ...

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DP World to add 3 million TEU of new container handling capacity

DUBAI / WAM DP World expects to add 3 million Twenty-Foot Equivalent Units (TEUs) of new container handling capacity by the end of the year, adding much needed infrastructure and capacity to boost global supply chain resilience. The global trade enabler currently manages approximately 9% of the world’s handling capacity, putting it among the top five global port operators. The ...

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AURAK joins world’s universities with ‘QS 5 Stars Plus’ rating

RAS AL KHAIMAH / WAM The American University of Ras Al Khaimah (AURAK) has been awarded the QS 5 Stars Plus rating, placing it in the league of a handful of the world’s elite universities. It is the first university in the UAE to be awarded this highest rating. The award of the rating followed a rigorous and independent data ...

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New industrial licences surge 16.6% in first year after Adis launch in 2022

ABU DHABI / WAM Launched by HH Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of Abu DhabiExecutive Council in June 2022, the Abu Dhabi Industrial Strategy (Adis) has accelerated the transformation of the emirate’s manufacturing sector, strengthening its position as the region’s most competitive industrial hub within its first year. Increased activity ...

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Yen weakens towards level that prompted September intervention

BLOOMBERG Japan’s currency dropped towards a level that triggered the first yen-buying intervention since 1998 in September, prompting a top official to voice concern. Finance Minister Shunichi Suzuki said authorities are watching the currency’s trends with a high sense of urgency and will take steps if excessive moves are seen. His comments caused the yen to rise a bit, trading ...

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Stocks, bonds decline as China’s surprise rate cut deepens gloom

BLOOMBERG Stocks and bonds declined as concern grew that China’s faltering recovery and debt problems will spread to the global economy. Instead of reassuring investors, China’s surprise rate cut only deepened anxiety about policy steps to revive growth, driving Europe’s Stoxx 600 index down as much as 1.2% to the lowest in a month. US equity futures pointed to a ...

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