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  Bloomberg Investors betting on Singapore’s two largest internet companies are staring down hefty losses as rising interest rates and recession risks extended a tech rout that wiped out $110 billion from their market capitalisation. E-commerce platform operator Sea Ltd plunged 78% this year while ride-hailing firm Grab Holdings Ltd has more than halved. The two companies, both listed in ...

  Bloomberg Bangladesh’s capital now has its first metro rail, a Japanese-funded project that aims to ease commuting in one of the most congested cities in the world. A section of the over 20-kilometre (12.427 miles) urban rail project, known as Line 6, was inaugurated by PM Sheikh Hasina. The line connects the northern zone of Dhaka to a hub ...

Bloomberg President Joe Biden said his administration would comply with the Supreme Court’s order keeping in place sweeping, coronavirus border controls. “The court is not going to decide until June, apparently, and in meantime we have to enforce it,” Biden told reporters after the Supreme Court ordered that the border restrictions, known as Title 42, stay in effect while litigation ...

Abu Dhabi / WAM The UAE has been ranked as the world’s leader in the field of technical and vocational education and training, in the Global Knowledge Index 2022, issued by the United Nations Development Programme (UNDP), in cooperation with the Mohammed bin Rashid Al Maktoum Knowledge Foundation. This achievement is the fruit of the UAE’s efforts to achieve Sustainable ...

Abu Dhabi / Gulf Time Emirates Global Aluminium, the largest industrial company in the United Arab Emirates outside oil and gas, has opened sustainable corporate bank accounts with Citi and Standard Chartered Bank (StanChart). EGA is amongst the first in the region to choose the accounts, which ensure cash balances are used to finance or refinance the sustainability progress elsewhere ...

Dubai / WAM Dubai Chamber of Commerce has announced the establishment of the Zimbabwean Business Council with a main objective of promoting commercial interests of Zimbabwe and Zimbabwean businesses in Dubai. The business council also aims to promote Zimbabwe-owned UAE-registered companies as well as their goods and services in the UAE. The launch of the council is in line with ...

  Dubai / WAM The International Committee of the Red Cross (ICRC) and The Big Heart Foundation (TBHF) have signed a grant agreement worth AED550,000 ($150,000) in support of the ICRC’s health operations in Pakistan. The two-month programme is expected to commence in January 2023 and end in February 2023 and will support the running of the ICRC’s mobile clinic, ...

  Abu Dhabi / WAM The Department of Health – Abu Dhabi (DoH) and the Make-A-Wish Foundation UAE (MAWF), signed a memorandum of understanding assisting the foundation to reach children with critical illnesses between the ages 3 and 18 years and grant their wishes to enrich them with joy, hope and strength during their medical treatment in the emirate’s healthcare ...

Bloomberg Soaring heating and electricity bills are pushing Europeans to find hacks that will cut their energy use and reduce costs. Mats Johansson installed 30 solar panels with a production capacity of 13.5 kilowatts on his house in Halmstad, southwest Sweden earlier this year. The nation has some of the highest rates of energy consumption per capita in Europe — ...

  Bloomberg With China’s massive construction sector still in a funk and the US and Europe likely heading into recessions, India has emerged as a savior for flagging global steel demand. Poised to overtake China as the world’s most populous country next year, India is in the midst of a building boom. Prime Minister Narendra Modi is seeking to modernise ...