BLOOMBERG The offshore yuan weakened toward its lowest on record against the dollar, as a cut to the daily reference rate for the managed currency stoked bets China is comfortable with a gradual depreciation. China’s currency declined as low as 7.3623 per dollar in overseas trading, beyond the psychologically important level of 7.35 and close to the weakest since the ...

BLOOMBERG The dollar pulled back from a six-month high as dovish comments from Federal Reserve officials revived speculation that the central bank may keep interest rates at current levels. The Bloomberg Dollar Spot Index retreated 0.1%. The moves came after Fed Bank of New York President John Williams said in a discussion on Thursday that US monetary policy is “in ...

ABU DHABI / WAM Tabreed has signed a memorandum of understanding (MoU) with the regional Indian Government of Telangana to explore developing and investing in district cooling infrastructure in Hyderabad, India. The MoU was signed during a ceremony in Dubai in the presence of Khalid Al Marzooqi, CEO of Tabreed; KT Rama Rao, Telangana Minister for Information Technology and Industries; ...

NAIROBI / ABU DHABI The COP28 UAE Presidency team attended the inaugural Africa Climate Summit (ACS), taking part in speaking engagements, meetings with African national leaders and leaders from business, policy and civil society and community visits, in a show of support and commitment to the continent as a major player in a better climate future. Activity conducted by the ...

ABU DHABI/ WAM The United Kingdom wants to work with all major economies, including the UAE, at the G20 Summit in New Delhi, as part of its efforts to address global economic challenges, a top UK diplomat told the Emirates News Agency (WAM). “Building a strong global economy is also at the heart of the UK Prime Minister’s priorities, and ...

BLOOMBERG China plans to expand a ban on the use of iPhones in sensitive departments to government-backed agencies and state companies, a sign of growing challenges for Apple Inc in its biggest foreign market and global production base. Several agencies have begun instructing staff not to bring their iPhones to work, people familiar with the matter said, affirming a previous ...

NEW DELHI/ WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan arrived today in the Republic of India on a working visit to attend the 18th Group of 20 (G20) Summit in which the UAE is participating as a guest of honour. At the summit, held under the theme “One Earth, One Family, One Future” in the city of New ...

NAIROBI / WAM The COP28 UAE’s Youth Climate Champion (YCC) is intensifying its dedication to inclusivity by driving global youth engagement, with a particular emphasis on amplifying young voices during Africa Climate Week in Nairobi, Kenya. The YCC team launched a series of dynamic initiatives aimed at not only elevating youth concerns, but also underscoring their indispensable role in addressing ...

ABU DHABI / WAM Dr. Saleh Al Hashemi, ADNOC’s Director of Commercial and In-Country Value (ICV) Directorate, said that ADNOC’s new eMarketplace is a centralised digital platform that is enhancing the speed and efficiency of its procurement pipeline and programmed to put local suppliers first. In a statement to the Emirates News Agency (WAM), Dr. Al Hashemi said that the ...

NEW DELHI / WAM The UAE is participating in the 18th summit of the Group of Twenty (G20) leaders, which is being held in New Delhi on 9-10 September, with the aim of boosting international cooperation and achieving sustainable economic prosperity. The UAE’s participation in this year’s summit as a guest country comes at the invitation of India, which is ...