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Argentina extends export ban on beef cuts

  Bloomberg Argentina extended an export ban on seven beef cuts until the end of 2023, doubling down on its unconventional approach to taming meat prices for local consumers. The government also prohibited exporters from shipping full cattle carcasses and half carcasses, among other categories, for the next two years. Argentine beef is part of the national identity, producing mostly ...

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China tech selloff deepens as Tencent sale spooks traders

  Bloomberg China’s tech stocks fall once again on Wednesday as firms backed by Tencent Holdings Ltd. came under pressure after it pared investment in the cohort for a second time in two weeks. The Hang Seng Tech Index fell 4.6% — the most since July — in a third straight day of declines, with overnight weakness in US peers ...

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Buffett’s Berkshire Hathaway plans return to yen bond market

  Bloomberg Warren Buffett’s Berkshire Hathaway Inc is planning a potential return to the yen bond market, just as a drop in the Japanese currency versus the greenback makes investments in nation’s companies more attractive. The US company has mandated banks for a potential benchmark yen-denominated bond offering. The deal may come in the near future, subject to market conditions. ...

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Citi’s Chronert bolsters S&P 500 year-end target

  Bloomberg Citigroup Inc strategist Scott Chronert gave up on what had appeared to be a too conservative market view after US stocks rounded out a third year of monster gains. Chronert increased his year-end target for the S&P 500 to 5,100 from 4,900, citing an earnings expansion that could last for at least two more years. While keeping his ...

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Sheikh Mohammed announces AED100m Great Arab Minds fund

  Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on Tuesday launched the Great Arab Minds initiative. The initiative will be driven by and headquartered at the Museum of the Future, the Emirates’ new global scientific landmark. Great Arab Minds is the Arab world’s largest ...

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Alpha Dhabi acquires 25% stake in Al Qudra Holding

  ABU DHABI / WAM Alpha Dhabi Holding (ADH) has announced the acquisition of 25.24% shareholding in Al Qudra Holding, as part of its AED8 billion strategic investment plan across various key-sectors in the UAE. Al Qudra Holding is an Abu Dhabi-based private joint stock company which has grown significantly by focusing on sustainable development in the region and creating ...

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Adda, Etisalat, Trend Micro team up to boost Abu Dhabi’s cyber security

  ABU DHABI / WAM Abu Dhabi Digital Authority (Adda), Etisalat, and Trend Micro Incorporated on Tuesday announced launch of Cyber Eye, an initiative designed to strengthen the Abu Dhabi Government entities’ cybersecurity capabilities. Cyber Eye initiative is a central part of Abu Dhabi government’s cybersecurity strategy. It will employ first of its kind technology and systems to identify cyber ...

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Imdaad secures FM contract for Nakheel project in Dubai

  DUBAI / WAM Imdaad, a Dubai-based group of companies that provides integrated, sustainable Facilities Management (FM) services that enhance the operational efficiencies of physical assets, has secured a contract to provide Hard FM and Data Loss Prevention (DLP) management services to ‘The View at The Palm’, a stunning observation deck that showcases a 360-degree view of Palm Jumeirah, the ...

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