News

  Bloomberg A lack of progress by the world’s largest economies to reduce the debt burden of the poorest nations as borrowing costs increase will cause worsening poverty rates and instability, World Bank Group President David Malpass said. “Debt relief is of major importance for the world because the interest rates are going up,” Malpass said in an interview on ...

PARIS / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan left Paris on Tuesday concluding a two-day state visit to the French Republic. His Highness Sheikh Mohamed bin Zayed was seen off at Orly Airport to the sounds of the UAE national anthem. During the visit, the UAE President met with President Emmanuel Macron and a number of ...

  Abu Dhabi / WAM Hub71, Abu Dhabi’s global tech ecosystem, has announced the launch of the second edition of “The Outliers Programme”, bringing together leading corporate and government partners including Aldar, Department of Culture and Tourism – Abu Dhabi (DCT) and Department of Health – Abu Dhabi (DoH), and Thales to present business and operational challenges for tech startups ...

  AL AIN / WAM Zaki Anwar Nusseibeh, Cultural Advisor to the President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Chancellor of the United Arab Emirates University (UAEU), has congratulated the faculty and staff of the university for having once again achieved international accreditation by the Western Association of Schools and Colleges’ (WASC) Senior College and University Commission ...

Sharjah / WAM Sharjah Media City (Shams) is expanding support for entrepreneurial ventures in the media sector and adding new financing opportunities to its portfolio that target innovative start-ups and SMEs and enable them to secure financing through a strategic partnership and guarantee scheme agreement with venture debt platform Funding Souq. The agreement aims to provide innovative financing facilities for ...

  Dubai / WAM Saeed Mohammed Al Tayer, MD&CEO of Dubai Electricity and Water Authority (Dewa), announced that energy demand in Dubai during the first half of 2022 increased by 6.3% compared to the same period in 2021. Demand for energy in the first half of 2022 reached 23,096 GWh compared to 21,729 GWh in the first half of 2021. ...

  Dubai / WAM The Dubai International Financial Centre (DIFC) Courts on Tuesday released its figures for the first six months of 2022, reaffirming increased efficiency of process for businesses engaged with the region’s prime jurisdiction for dispute resolution. The volume of cases across all the divisions recorded a 10 percent increase in the first half of this year, compared ...

Bloomberg The few commuters who braved the heat of London’s Underground transport system had to endure temperatures deemed too hot to safely transport cattle, showing the brutal conditions sweeping through Europe and impacting everything from transport to food and energy production. Intense heat caused London’s Luton Airport to halt flights for runway repairs, while Wales set a new record and ...

  Bloomberg Canadian home prices saw their biggest monthly decline in at least 17 years as the impact of higher interest rates began to spread across the country. The benchmark price of a home falls 1.9% in June versus the previous month, according to data by the Canadian Real Estate Association. That’s the third straight month of falling prices, and ...

Bloomberg Volvo AB said a slowing global economy is not yet weighing on demand as the truckmaker reported better-than-expected profit for the second quarter. “We realise, like everyone else, that the macro-economic measures taken now by central banks must have an effect in order to reduce the inflationary pressures,” Volvo’s Chief Executive Officer Martin Lundstedt said in a phone interview ...