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EAD, FAO join efforts to revive pearl industry in Abu Dhabi

  Abu Dhabi / WAM The Environment Agency – Abu Dhabi (EAD) has partnered with the Food and Agriculture Organisation (FAO) of the United Nations in a joint effort to revive the heritage and traditions of the emirate’s pearl industry. The “Abu Dhabi Pearls” project involves sustainably farming high-quality pearls in the warm waters of the Arabian Gulf. The project ...

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Adib enables digital solutions to support UAE IPOs’ push

Abu Dhabi / WAM Abu Dhabi Islamic Bank (Adib), a leading Islamic financial institution announced that its retail customers were able to conveniently participate in the subscription to initial public offerings (IPOs) that were issued this year through its mobile app. 80% of clients subscribed IPOs that were issued in 2022 through Adib Mobile app in just a few clicks. ...

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e& launches its FutureNow Sustainability Call initiative

  Abu Dhabi / Gulf Time e& (formerly known as the Etisalat group) has on Monday announced the launch of its collaborative initiative; the FutureNow Sustainability Call. As part of the group’s overarching FutureNow campaign from e& enterprise, the global technology conglomerate is inviting technology and digital solution scale-ups to develop , sustainable solutions towards reducing energy consumption across the ...

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Dewa marks National Day with host of activities

  Dubai / WAM In a distinguished patriotic atmosphere, Dubai Electricity and Water Authority (Dewa) celebrated the 51st National Day, with the participation of Saeed Mohammed Al Tayer, MD & CEO of Dewa, Executive Vice Presidents and Vice Presidents. Many employees and customers participated in the celebrations, which featured patriotic and heritage activities. Dewa’s celebrations of the National Day included ...

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Abu Dhabi Airports sees 4.7mn passenger traffic in Q3 2022

  Abu Dhabi / WAM Abu Dhabi Airports, the operator of the five airports in the emirate of Abu Dhabi, on Monday released its passenger traffic results report for the third quarter of 2022. During this period, passenger traffic totalled 4.7 million passengers, a rise of 250% compared to the 1.3 million passengers in Q3 2021. The report highlights impressive ...

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China economy braces for more slump as Covid, protests spread

Bloomberg China’s economic activity slumped in November and could drop further in coming weeks as Covid outbreaks spread across the country and protests against tighter virus restrictions escalate. Bloomberg’s aggregate index of eight early indicators showed a likely contraction in activity in November from an already subdued pace in October. With Covid cases spreading rapidly in each of China’s provinces ...

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Drive to bypass China in lithium refining grows in Australia

  Bloomberg Pilbara Minerals Ltd, one of Australia’s biggest lithium producers, plans to build a demonstration plant in Western Australia capable of refining the material that’s key to the booming global battery metals market. The pilot plant would process Pilbara Minerals’ hard-rock ore into lithium salt near the company’s Pilgangoora Project in Western Australia, in a joint venture with Australia’s ...

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Korean house prices drop most since 2013 over credit concerns

  Bloomberg South Korean house prices recorded the biggest decline in nine years as the central bank’s 16-month tightening cycle weighs on the property market, adding to credit concerns for policy makers. Nationwide home prices dropped 0.32% in November from a year earlier, while Seoul slid 0.12%, according to data from Kookmin Bank. South Korean surveyors tend to count the ...

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Pakistan halts payments for in-app purchases

  Bloomberg Pakistan has halted payments for in-app purchases including online video games bought by local customers using airtime from telecommunications companies, the latest sign of distress caused by the country’s depleted foreign-exchange reserves. Telecom service providers were violating regulations by allowing payments to be made for customers under an arrangement with the government that permitted the phone companies to ...

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Foxconn offers $1,800 bonus to staff who stay in iPhone city

Bloomberg Apple Inc partner Foxconn is offering bonuses of as much as $1,800 to existing workers at its Zhengzhou facility, hoping to sustain the staff levels it needs to run the world’s largest iPhone factory. Foxconn, also known as Hon Hai Precision Industry Co, will top up wages by as much as 13,000 yuan per month in December and January ...

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