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Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan, on Monday presided over the annual meeting of the Abu Dhabi National Oil Company (Adnoc) Board of Directors, in his capacity as its Chairman. During the meeting, which was held at Adnoc Headquarters, the board directed Adnoc to pursue a “Net Zero by 2050” ambition to support ...

  Abu Dhabi / WAM Hub71, Abu Dhabi’s global tech ecosystem, has grown its community to more than 200 startups following the selection of 20 companies to join its latest cohort. Of the 20 startups in the cohort, nine are UAE-based companies while the remaining 11 have relocated to Abu Dhabi, reinforcing the UAE capital’s ability to attract high-quality companies ...

  Abu Dhabi / WAM The Environment Agency – Abu Dhabi (EAD) has partnered with the Food and Agriculture Organisation (FAO) of the United Nations in a joint effort to revive the heritage and traditions of the emirate’s pearl industry. The “Abu Dhabi Pearls” project involves sustainably farming high-quality pearls in the warm waters of the Arabian Gulf. The project ...

Abu Dhabi / WAM Abu Dhabi Islamic Bank (Adib), a leading Islamic financial institution announced that its retail customers were able to conveniently participate in the subscription to initial public offerings (IPOs) that were issued this year through its mobile app. 80% of clients subscribed IPOs that were issued in 2022 through Adib Mobile app in just a few clicks. ...

  Abu Dhabi / WAM Abu Dhabi Airports, the operator of the five airports in the emirate of Abu Dhabi, on Monday released its passenger traffic results report for the third quarter of 2022. During this period, passenger traffic totalled 4.7 million passengers, a rise of 250% compared to the 1.3 million passengers in Q3 2021. The report highlights impressive ...

Bloomberg China’s economic activity slumped in November and could drop further in coming weeks as Covid outbreaks spread across the country and protests against tighter virus restrictions escalate. Bloomberg’s aggregate index of eight early indicators showed a likely contraction in activity in November from an already subdued pace in October. With Covid cases spreading rapidly in each of China’s provinces ...

  Bloomberg Pilbara Minerals Ltd, one of Australia’s biggest lithium producers, plans to build a demonstration plant in Western Australia capable of refining the material that’s key to the booming global battery metals market. The pilot plant would process Pilbara Minerals’ hard-rock ore into lithium salt near the company’s Pilgangoora Project in Western Australia, in a joint venture with Australia’s ...

  Bloomberg South Korean house prices recorded the biggest decline in nine years as the central bank’s 16-month tightening cycle weighs on the property market, adding to credit concerns for policy makers. Nationwide home prices dropped 0.32% in November from a year earlier, while Seoul slid 0.12%, according to data from Kookmin Bank. South Korean surveyors tend to count the ...

Bloomberg Apple Inc partner Foxconn is offering bonuses of as much as $1,800 to existing workers at its Zhengzhou facility, hoping to sustain the staff levels it needs to run the world’s largest iPhone factory. Foxconn, also known as Hon Hai Precision Industry Co, will top up wages by as much as 13,000 yuan per month in December and January ...

Bloomberg Prime Minister Justin Trudeau’s government is boosting military spending and expanding Canadian trade ties in the Indo-Pacific region as part of a “generational” policy shift aimed at countering China’s influence. Foreign Minister Melanie Joly released her nation’s Indo-Pacific Strategy, including nearly $1.7 billion (C$2.3 billion) in spending. That money is being used for more navy patrols in the region, ...