News

  DUBAI / WAM The 27th edition of the Dubai International Pharmaceutical & Technologies Conference and Exhibition (Duphat 2022) has generated exceptional direct and indirect business deals worth AED5.1 billion. The high volume of deals reflects the event’s success in providing a platform to showcase the latest innovations in the pharmaceutical industry and build partnerships that benefit the entire sector. ...

  DUBAI / WAM Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, visited the Pavilion of Japan at Expo 2020 Dubai and explored the innovations on display, such as the “Cities of the Future” experience, and the sustainability aspect of Japanese architecture and smart transportation. Dr Al Jaber met with Akio Isomata, Ambassador of Japan to ...

  ABU DHABI / WAM The Abu Dhabi Chamber of Commerce and Industry signed a cooperation agreement with Cyprus Chamber of Commerce and Industry to boost economic and investment cooperation between Abu Dhabi and Cyprus. The cooperation agreement comes on the sidelines of the meeting the Abu Dhabi Chamber organised with Cyprus Investment Promotion Agency (Invest Cyprus) at the Chamber’s ...

DUBAI / WAM Bel Group, the global leader in dairy branded cheese and a major player in healthy single serving portions, has signed on to engage with the Global Compact Network UAE, a non-binding UN organization that encourages businesses to adopt sustainable and socially responsible policies, and to report on their implementation. The signing ceremony, held at the French Pavilion ...

  Dubai / Gulf Time Dr Sulaiman Al-Fahim, founder and Chairman of the Board of Directors of Sustain Digital Trading, praised the company’s listing on the “Dubai Next” platform, which is the first official government digital crowdfunding platform based on community support, for young people and those with creative and ambitious ideas of different nationalities to be launched from Dubai. ...

Bloomberg From Chelsea penthouses to Highgate mansions, Russia’s long-standing infatuation with UK real estate is evident from a cursory glance at some of the country’s priciest property transactions. The past decade has seen that trend explode. The number of UK properties whose owners’ principal correspondence address is in Russia reached 1,127 in August 2021, according to data released by the ...

  Bloomberg Norway’s $1.3 trillion sovereign wealth fund’s chief executive, Nicolai Tangen, is resisting pressure to sell Russian stocks now, saying doing so would be akin to a “gift” to the country’s oligarchs. The Oslo-based fund is the world’s biggest owner of publicly traded companies with a portfolio of about 9,000 stocks, and has about 0.2% of its assets invested ...

  Bloomberg Russia still has about $300 billion of foreign currency held offshore — enough to disrupt money markets if it’s frozen by sanctions or moved suddenly to avoid them. That’s according to Credit Suisse Group AG strategist Zoltan Pozsar, who parsed data from the Bank of Russia and financial markets to calculate that a much larger share is held ...

  Bloomberg Italy’s new plan to break its dependence on Russian gas may rely partly on an old source of energy: coal. Prime Minister Mario Draghi said Friday that the country could reopen some shuttered coal plants to help bridge its looming energy supply gap and cut its dependence on Russia, which currently accounts for 45% of Italian gas supplies. ...

  Bloomberg Polish residents queued to withdraw cash from banks amid concerns over the fallout from Russia’s invasion of neighboring Ukraine, triggering a statement from the central bank that the country has sufficient reserves despite some ATMs running out of zloty. “All bank orders are carried out without value limits, in the full nominal value, throughout the country,” the National ...