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Bloomberg European Union (EU) governments have pledged more than 550 billion euros ($536 billion) to protect citizens and businesses from soaring energy costs over the past year, highlighting the enormous fiscal burden the bloc’s leaders face as they jostle over how to pay for it. That figure climbs to 710 billion euros when support for utilities via loans, bailouts and ...

Bloomberg The race to be Britain’s next prime minister will be mostly conducted behind closed doors, as contenders embark on a frantic weekend of lobbying Conservative lawmakers to get onto Monday’s party ballot. Liz Truss’s dramatic resignation on Thursday triggered a leadership contest that, coming so soon after the bitter one that put her into 10 Downing Street, is likely ...

  Abu Dhabi / WAM Abu Dhabi National Oil Company (Adnoc) announced on Thursday that a new world record for the longest oil and gas well has been set at its Upper Zakum Concession. Stretching 50,000 feet, the well is around 800 feet longer than the previous world record set in 2017 and supports Adnoc’s efforts to expand production capacity ...

  Abu Dhabi / WAM Edge group PJSC (Edge or the ‘group’), one of the world’s top 25 advanced technology groups for defence and beyond, is proud to be participating in the Special Operations Forces Exhibition (Sofex), being held at Aqaba Gate Aviation, King Hussein International Airport in Aqaba, Jordan, from November 1-3. Edge will use its presence at the ...

  Dubai / WAM In his capacity as the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, issued Law No. (17) of 2022 on Dubai’s Endowments and Minors’ Trust Foundation. His Highness also issued Law No. (18) of 2022 affiliating the Mohammed Bin Rashid Global Centre for Awqaf and ...

  Abu Dhabi / WAM Abu Dhabi Health Services Company (Seha), the UAE’s largest healthcare network, has signed a memorandum of understanding (MoU) with Abu Dhabi University (ADU) to bolster medical education and mutual knowledge transfer between the two entities. The partnership will aim to promote ties between both parties through student placements, training programmes, sharing of facilities and resources, ...

Bloomberg Liz Truss quit as UK prime minister after a brief and chaotic tenure that saw her announce a massive package of tax cuts before unwinding most of it in the face of a market rout. Truss, 47, said she was resigning after just 44 days in office, and is set to become the shortest-ruling prime minister in British history. ...

  ABU DHABI / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, has received a phone call from Josep Borrell, High Representative of the European Union for Foreign Affairs and Security Policy. HH Sheikh Abdullah and Borrell reviewed the importance of enhancing the values of tolerance, pluralism, respect and peaceful coexistence in ...

  Abu Dhabi / WAM Mubadala Investment Company, the Abu Dhabi-based sovereign investor managing a global portfolio of assets valued at $284 billion, has acquired a stake in Skyborn Renewables, the world’s largest private offshore wind developer, alongside Global Infrastructure Partners (GIP). The acquisition of a 100% interest in Skyborn Renewables provides GIP and co-investors, including Mubadala, with access to ...

Dubai / WAM Jebel Ali Free Zone (Jafza), in its report published on Wednesday, explained that the Gulf’s electronics and electrical sector has grown sharply in the last few years, driven by rising disposable income, tourism and deep internet penetration rates, making the region one of the most connected globally. Due to its strategic location, Dubai is one of the ...