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  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. ...

  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 ...

  Bloomberg Tencent Holdings Ltd is stepping up the use of renewable energy with a goal of zeroing out emissions by 2030, acknowledging the damage wrought by its data centers while heeding Beijing’s call to protect the environment. The Chinese social media and gaming giant plans to use all but renewable energy by the same timeframe and has already purchased ...

Bloomberg Russian forces closed in on Ukraine’s capital and its embattled leadership as President Vladimir Putin shrugged off a barrage of sanctions imposed by the US and Europe and pressed deeper with his invasion. With the war raging Friday, Chinese President Xi Jinping told Putin in a call that he supported negotiations between Russia and Ukraine, according to China Central ...

  Bloomberg Russia’s invasion of Ukraine poses a difficult question for China: How can it support a key strategic partner when relations with the US and Europe are so much more important for its economy? An important energy supplier to China, Russia has strengthened trade ties with Beijing over the past decade. However, Russia’s economic weight pales in comparison to ...

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 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 US inflation-adjusted consumer spending advanced by more than expected in January, highlighting the resilience of American demand despite a surge in Covid-19 cases and prices rising by triple the Federal Reserve’s target. Purchases of goods and services, adjusted for changes in prices, increased 1.5% from December, the most in 10 months, according to Commerce Department figures Friday. The personal ...

  ABU DHABI / WAM Borouge, a joint venture between Adnoc and Borealis that provides innovative, value-creating polyolefin solutions, has announced the successful start-up of its new fifth polypropylene unit (PP5) in Ruwais. The new unit will boost the UAE’s polypropylene production to meet the growing global demand for manufactured products in the recyclable advanced packaging, infrastructure, and other industrial ...