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UAE and US discuss ties in military, defence fields

ABU DHABI / WAM Major General Saleh bin Mejren Al Ameri, Commander of Joint Operations at the UAE Ministry of Defence, has met with Lt Gen Alexus G Grynkewich, Commander, Ninth Air Force (Air Forces Central), Shaw Air Force Base, South Carolina, and the Combined Forces Air Component Commander for US Central Command, Southwest Asia, at the ministry’s headquarters. During ...

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UAE launches summit visualising future of AI

DUBAI / WAM The UAE government launched the ‘Machines Can See 2023’ summit, one of the international conferences in artificial intelligence (AI) in the whole region, taking place at the Museum of the Future in Dubai, in partnership between Artificial Intelligence, Digital Economy, and Remote Work Applications Office and ‘Machines Can See’ company. The summit aims to convene an array ...

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COP28 Presidency, YCC advance youth engagement at Ecosoc

NEW YORK / WAM The COP28 Presidency and the COP28 Youth Climate Champion (YCC) team rolled out a series of engagement events for youth during the United Nations Economic and Social Council (Ecosoc) Youth Forum in New York with over 200 youth participants. Highlighting the essential role of youth in climate action, the first event, ‘Harnessing the Power of Youth ...

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UAE holds fifth financial dialogue with Swiss Confederation in Bern

BERN / WAM The UAE, represented by the Ministry of Finance (MoF), has held the fifth financial dialogue with the Swiss Confederation in the Swiss capital, Bern. Both parties discussed bolstering strategic relations and bilateral cooperation in various development, economic and financial fields of common interest. Younis Haji Al Khoori, Undersecretary of the Ministry of Finance, headed the UAE delegation. ...

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European stocks drop before ECB; PacWest Bancorp slumps

BLOOMBERG European stocks dropped as investors turned their focus towards a rates decision by the European Central Bank (ECB) after a quarter-point hike by the Federal Reserve. US regional lenders slumped on renewed worries about financial stability. Most industry groups were in the red in Europe, with energy a bright spot after Shell Plc posted strong quarterly profit and maintained ...

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BofA says a 40% earnings downgrade awaits Indian stocks

BLOOMBERG Earnings estimates for Indian firms may be slashed by about 40% this fiscal year and next due to a host of global and domestic risks, according to Bank of America Corp (BofA). Consensus estimates for NSE Nifty 50 companies are lofty and haven’t moderated despite a weak outlook for software firms, analyst Amish Shah wrote in a note. Estimates ...

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Gold hits near record high as Fed hints rate-hike pause

LONDON / WAM Gold prices traded near record-high levels on Thursday, as US yields and the dollar dipped after the US Federal Reserve hinted it might pause its rate-hike cycle, Reuters reported. Spot gold was up 0.1% at $2,040.46 per ounce by 0249 GMT. Earlier in the session, prices rose to $2,072.19 per ounce and hovered close to an all-time ...

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Sharjah Ruler approves ‘Jawaher Boston Medical District’ project

SHARJAH / WAM H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, in the presence of his wife, H.H. Sheikha Jawaher bint Mohammed Al Qasimi, Chairperson of the Board of Directors of BEEAH Group, approved the joint “Jawaher Boston Medical District” project between BEEAH Group, “Mass General Brigham Hospitals Network,” and “Dana-Farber Cancer Institute,” ...

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