DUBAI / WAM The UAE Food Bank, which is a part of the Mohammed bin Rashid Al Maktoum Global Initiatives, collaborated with Meta’s Facebook platform to distribute approximately 720 food baskets, which are equivalent to 55,000 meals, to blue-collar workers in Dubai’s Al Quoz neighbourhood. The food baskets were generously provided by Carrefour, a brand represented by Majid Al Futtaim. ...

ABU DHABI / WAM Adnoc Logistics & Services (Adnoc L&S), the shipping and maritime logistics arm of Adnoc, announced on Thursday the deployment of five new-build Very Large Gas Carriers (VLGC). The gas carriers were built at Jiangnan Shipyard in Shanghai, China, and will be owned and operated by AW Shipping, an Adnoc L&S joint venture with Wanhua Chemical Group ...

ABU DHABI / WAM Emirates Development Bank (EDB), a key financial engine for the economic development and industrial advancement in the United Arab Emirates (UAE), has partnered with the UAE Ministry of Economy’s Entrepreneurial Nation to support the Smart Farming Global Innovation Challenge, in line with the bank’s commitment to the UAE’s sustainable economic development and food security — one ...

DUBAI / WAM Dubai Airports has won two major accolades with its integrated Contact Centre being recognised with a Gold Stevie Award and an International Business Excellence Award (IBXA). Dubai Airports was awarded the “Contact Centre of the Year (Up to 100 Seats) — in the All Other Industries” category at the 17th annual Stevie Awards for Sales & Customer ...

DUBAI / WAM Mashreq has joined the World Green Building Council’s (WorldGBC) Advancing Net Zero Readiness Framework as a collaborator in the Mena region to promote a Net Zero built environment in the region. The initiative aims to create a community of Net Zero collaborators to speed up investment and build confidence in Net Zero. As a collaborator, Mashreq will ...

BLOOMBERG The European Central Bank (ECB) has to continue to raise borrowing costs, according to Governing Council member Klaas Knot, conceding that a slower pace of tightening could be warranted. “We are certainly not done with interest-rate hikes,” the Dutch central bank chief told the NRC newspaper in an interview. “Core inflation in the euro zone is now almost 6%, ...

BLOOMBERG  New Bank of Japan (BOJ) Governor Kazuo Ueda struck a dovish tone once again by highlighting the risk of inflation slowing below the central bank’s target. Comparing the risk of inflation overshooting and falling below 2%, “it’s appropriate to conduct monetary policy by focusing on the latter risk” considering economic conditions, Ueda told reporters in Washington. Coming three days ...

BLOOMBERG  HSBC Holdings Plc plans to recruit about 30 bankers to service India’s ultra-rich through its private bank that the lender will launch in the country in the next few months, according to people with knowledge of the matter. The bank is seeking to fill the roles internally from staff in the country, as well as to hire wealth managers ...

BLOOMBERG  British banks expect to put the squeeze on the mortgage market in the coming months after signs emerged of business and household loan defaults picking up. The Bank of England’s (BOE) quarterly credit conditions survey showed that the availability of home loans will be curtailed in the second quarter (Q2). Lenders said that default rates on mortgages, unsecured credit ...

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has awarded  Khemissi Arif, ambassador of Algeria to the UAE, the First Class Medal of Independence, on the end of his tenure as ambassador to the UAE. Sheikh Shakhboot bin Nahyan Al Nahyan, Minister of State, presented the medal to Ambassador Arif. Sheikh Shakhboot expressed his ...