Bloomberg Bank Indonesia stepped in to prop up the rupiah for a second day, joining a host of other policy makers which are pushing back against a surging dollar. Indonesian authorities are intervening in the spot and domestic non-deliverable forwards markets to prevent the rupiah from weakening excessively, Edi Susianto, executive director of monetary management, said in a text ...

Bloomberg The dollar rises to another record after the White House talked down the prospect of weakening the currency, while UK bonds surged after the Bank of England (BOE) said it would carry out temporary purchases of long-dated government bonds to help restore order to the market. US futures were mixed, while European stocks dropped for a fifth day as ...

  Bloomberg Investors are abandoning European stocks at levels last seen during the euro zone debt crisis, according to Citigroup Inc. strategists, adding that this could represent a contrarian signal to buy. European equity funds are on track for eight straight months of outflows totalling $98 billion, or 6% of assets under management, the bank said in a note citing ...

  Sharjah / WAM Beeah group and Green Planet, Egypt’s emerging environmental services company, have formed a partnership to deliver a landmark ten-year contract in Sharm el-Sheikh. The development comes ahead of Cop27, which will be held in Sharm el-Sheikh, between November 6-18. In the presence of Dr. Mostafa Madbouly, Prime Minister of Egypt; Khaled Al Huraimel, Group CEO of ...

  ABU DHABI / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to President Serdar Berdymukhamedov of Turkmenistan, on the occasion of his country’s Independence Day, which is celebrated annually on September 27. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of ...

TBILISI / WAM The first round of talks to reach a Comprehensive Economic Partnership Agreement (CEPA) between the UAE and the Republic of Georgia are ongoing in the Georgian capital, Tbilisi. The agreement aims to drive economic growth in the two countries and boost the deep and growing relations between the two countries. Dr. Thani bin Ahmed Al Zeyoudi, Minister ...

  DUBAI / WAM Ducab group has been awarded the full EPC (engineering, procurement & contracting) contract to supply and install 400 kV cables and accessories to link Al Dhafra, the world’s largest solar plant in Abu Dhabi, with the emirate’s main Transco transmission grid (Abu Dhabi Transmission and Despatch Company) through its specialised division, Ducab HV. This collaborative project ...

  Abu Dhabi / WAM Emirates Global Aluminium (EGA) continued its collaboration with Abu Dhabi’s Human Resources Authority (HRA) by holding a recruitment drive in Abu Dhabi to attract young UAE nationals. More than 50 UAE nationals were shortlisted for places on EGA’s long-running National Training Programmes, following interviews with EGA representatives at the recruitment drive. Successful candidates will undergo ...

  Dubai / WAM Etihad Energy Services Company (Etihad ESCO), a wholly-owned subsidiary of Dubai Electricity and Water Authority (Dewa), signed several contracts and memoranda of understanding (MoUs) with several Dubai government entities at the 24th Water, Energy, Technology and Environment Exhibition (Wetex) and Dubai Solar Show (DSS). Etihad ESCO signed MoUs with the Real Estate Regulatory Agency (RERA), a ...

  Muscat / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has met with His Majesty Sultan Haitham bin Tariq, the Sultan of Oman, at Al Alam Palace in the Omani capital, Muscat. During the meeting on the first day of the UAE President’s state visit to the Sultanate of Oman, the two leaders spoke of the historical ...