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Bloomberg Around 1,000 European Union (EU) finance firms are expected to open their first offices in the UK after losing their passporting rights because of Brexit. Roughly two-thirds of the 1,500 money managers, payment firms and insurers that have applied for regulatory permission to continue operating in the UK previously had no physical operations in Britain, according to Financial Conduct ...

ABU DHABI / WAM The first day of the International Defence Exhibition (Idex) and the Naval Defence Exhibition (Navdex) 2021 has seen the UAE Armed Forces sign 19 deals, worth AED 5.03 billion, with local and international companies. The deals came on the first day of the two exhibitions, which will run until February 25. Staff Brigadier-General Mohammed Al Hassani, ...

DUBAI / WAM Gulfood 2021 kicked off on Sunday at the Dubai World Trade Centre (DWTC), with the participation of 2,500 companies from 85 countries, including some of the most prominent brands in the F&B sector. Gulfood presents the main market trends on food and beverage and aims to highlight new innovations, consumer behaviour patterns, and revive communication links between ...

BRASILIA / WAM Saleh Ahmed Al Suwaidi, UAE Ambassador to Brazil, discussed with Tarcisio Gomes de Freitas, Minister of Infrastructure of Brazil, ways of advancing overall cooperation between the UAE and Brazil, most notably in the infrastructure and investment sectors. They also addressed Brazil’s participation in Expo 2020 Dubai. During the meeting, Al Suwaidi stated that relations between the two ...

DUBAI / WAM Dubai Municipality is joining the activities of the UAE Innovates 2021, organised by the General Secretariat of Dubai Executive Council, until February 27, to enhance the municipality’s directions towards promoting the values of creativity and innovation in its various sectors. Dawoud Al Hajri, Director General of Dubai Municipality, emphasised the municipality’s keenness to participate in the activities ...

Bloomberg Nedbank Group Ltd is leading discussions to restructure South African power utility Eskom Holdings SOC Ltd’s $32 billion debt load, according to people familiar with the talks. The parties met in recent days, and one of the options is to transfer at least 100 billion rand of debt to a special-purpose vehicle that would be overseen by the Public ...

Bloomberg Myanmar’s anti-military protesters plan to hold their largest mass rally yet on Monday after two demonstrators were shot dead this weekend. Shops and businesses are expected to close in solidarity, with the nation’s largest retailer, City Mart, announcing it will shut all of its outlets. The violent crackdown on the largely-peaceful movement risks stunting an already troubled economy. Nearly ...

Sharjah / WAM The Sharjah Entrepreneurship Centre (Sheraa) launched its latest programme, the Sharjah Startup Studio (S3), designed to build enduring businesses that will accelerate the region’s digital transformation and contribute to the growth of the non-oil economy in the UAE. This model provides founders with $30,000 in pre-seed funding and allows them to focus on building a high-quality product, ...

DUBAI / WAM The Roads and Transport Authority (RTA) announced that the AED2 billion improvement project to widen the Dubai-Al Ain Road reached a completion rate of 60 percent. The project is aligned with HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai’s vision for the emirate for the next ...

Abu Dhabi / WAM Under the patronage of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, the International Defence Conference 2021 kicked off on Saturday in Abu Dhabi. For the first time, the International Defence Conference 2021 is being held as a hybrid event. The conference brings together more than 24 experts and specialists in the defence sector, physically ...