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  Dubai / WAM Noura bint Mohammed Al Kaabi, Minister of Culture and Youth witnessed the launch of an e-book telling the story of the UAE’s seven emirates in 50 portraits of individuals. Devoted to the esteemed legacy of Sheikh Hamdan bin Rashid Al Maktoum and published in the year of the UAE’s Golden Jubilee, the book, titled, ’50U’, tells ...

  ABU DHABI / WAM The central bank of the UAE (CBUAE) and the Bank of Korea (BOK) on Wednesday renewed the Bilateral Local Currency Swap Agreement, reaffirming their commitment to promote trade and financial cooperation. The agreement was signed by Khaled Mohamed Balama, CBUAE governor, and Juyeol Lee, governor of the Bank of Korea. The agreement, which was originally ...

  Dubai / WAM Dubai Electricity and Water Authority (Dewa) has announced a donation of AED10 million to contribute to the “1 Billion Meals” initiative, to assist and provide sustainable food support to the underprivileged and most needy groups in 50 countries in the Middle East, North Africa and the world – in particular children, refugees, displaced persons, and victims ...

  ABU DHABI / WAM The Ministry of Economy (MoE) has confirmed the continuation of its periodic monitoring of the 300 most sought-after basic commodities in the markets, in partnership with the economic departments and regulatory authorities at the local and federal levels, through a weekly follow-up by the relevant work teams. More than 40 outlets and cooperative societies in ...

Bloomberg A group of Gazprom PJSC companies temporarily under the control of the German government will not return to the ownership of the Russian gas giant, according to the group’s trading unit. Gazprom views the separation as permanent and has already asked the companies to stop using its branding and trademarks, London-based Gazprom Marketing & Trading said in an email ...

Bloomberg President Joe Biden for the first time accused Russia of committing genocide in Ukraine, significantly escalating his condemnation of President Vladimir Putin’s invasion. Speaking at an event in Iowa laying out steps to lower fuel costs that have surged during the war, Biden described Russia’s actions in the conflict as a “genocide.” He later stood by his comments, but ...

  Bloomberg A Mexican truck blockade at a key Texas bridge is diverting US-bound cargoes to far-flung crossings, worsening shipping snarls and raising the specter of delivery disruptions for everything from avocados to auto parts. Truckers on the Mexican side of the Pharr-Reynosa International Bridge are protesting Texas Governor Greg Abbott’s stepped-up inspection effort. With commercial traffic at a total ...

  Bloomberg UK inflation surged to a 30-year-high of 7% last month, intensifying a cost of living crisis that threatens to derail the economic recovery. Consumer prices rise by 1.1% in March alone, the fastest increase on record for that month. It adds to pressure on the government and Bank of England to act, with prices set to surge further ...

Bloomberg The average price of a Toronto home dipped in March as a slight cooling of activity allowed the pace of new listings to close the gap with sales, even as the market remained heavily tipped in sellers’ favour compared with historic standards. The average home price in Canada’s largest city dipped 2.6% to just under C$1.3 million in March ...

Abu Dhabi / WAM ADQ, an Abu Dhabi-based investment and holding company, and Chimera Investments, an Abu Dhabi-based private investment firm managing a diversified portfolio of listed and unlisted equities on both local and international markets, announced on Tuesday they have established ADC Acquisition Corporation PJSC (ADC), the UAE’s first Special Purpose Acquisition Company (SPAC). ADC plans to raise AED367 ...