DUBAI / WAM Dubai South Properties announced the appointment of Ginco General Contracting for a significant contract valued at AED 1 billion for the development of the initial phases of South Bay, the master development located in the heart of The Residential District within Dubai South alongside the Expo Road. The project is scheduled for completion by Q1 2026 and ...

SHARJAH / WAM Sharjah Electricity, Water and Gas Authority (Sewa) has concluded the extension project of a crucial main pipeline with a diametre of 800mm, aimed at transporting water from Al Zubair Station to Al Shanouf Suburb. This significant endeavour, initiated in mid-July 2022, utilised environmentally friendly materials to ensure water quality, while effectively catering to the growing demand for ...

BLOOMBERG Wall Street has been caught by surprise by a rally in local emerging-market debt, an asset class that’s been largely abandoned by foreign investors after a decade of underperformance. Domestic-currency bonds are this year’s developing-world winners, handing money managers far stronger returns than hard-currency debt or equities, according to data compiled by Bloomberg. BlackRock Inc has started calling local ...

BLOOMBERG The coders who maintain Bitcoin’s blockchain are clashing over whether to stamp out the meme tokens swarming the network. A torrent of speculative coins led to a record number of transactions and an 11-fold spike in processing fees on the blockchain in May, creating a logjam and forcing the Binance exchange to temporarily halt Bitcoin withdrawals. The tumult has ...

ABU DHABI / WAM H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and Chairman of the Higher Committee Responsible for Overseeing Preparations for the 28th Conference of the Parties to the UNFCCC (COP28 UAE), received here the US Special Presidential Envoy for Climate, John Kerry, to review the strategic relations between the two nations and the existing ...

ABU DHABI / WAM In the presence of HH Sheikh Hamed bin Zayed Al Nahyan, the Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) on Sunday hosted commencement for the Class of 2023, its second cohort, strengthening AI talent capacity and contributing solutions to global challenges, including health, education, and climate. The MBZUAI commencement ceremony celebrated 59 students graduating with ...

DUBAI/ WAM Driven by the banking giants’ continuous quest for digital excellence and in line with its ambitious transformation strategy, the financial powerhouse announced on Sunday the launch of DIB alt, a full-fledged digital umbrella brand to house all of the bank’s digital offerings and capabilities under one roof. DIB ‘alt’ is not another bank, or another mobile banking app, ...

ABU DHABI / WAM AD Ports Group, the leading facilitator of global trade, logistics, and industry, has signed a 25 years agreement with Singapore based Crystal Offshore, a recognised one-stop logistics solution provider to the marine & offshore industry. Under the agreement’s terms, a 20,000 square metre plot of land and an associated quay wall in Khalifa Port will be ...

SHARJAH / WAM The Sharjah Chamber of Commerce and Industry (SCCI) has successfully concluded its trade mission to India after five days of fruitful meetings and discussions with Indian business and industrial associations in New Delhi and Mumbai. The trade mission, organised by the Sharjah Exports Development Centre, visited Indian capital and commercial hub to discuss potential investment advantages and ...

BLOOMBERG  Standing by vast, ash-coloured coalfields, miner Rabi Behera expressed few doubts about the job at hand. To cope with increasingly brutal temperatures, India has to keep its power grid standing— and for now that means digging up ever expanding quantities of the dirtiest fossil fuel. “It’s hard to survive without electricity during the summer,” he said, giant trucks rumbling ...