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 ...

  Bloomberg Credit Suisse Group AG said it’s working on possible asset and business sales as it seeks ways to drive down costs and restore profitability under a strategic plan to be announced next month. While Credit Suisse didn’t give details on divestments, Bloomberg reported that executives are weighing the sale of its Latin American wealth management operations excluding Brazil. ...

  Bloomberg New Zealand’s central bank (RBNZ) still has some work to do to tame inflation but the bulk of the heavy lifting is behind it, Governor Adrian Orr said. “We believe we still have some work to do, but the good news is because we’ve done so much already, the tightening cycle is very mature, it’s well advanced,” Orr ...

  Bloomberg Hungary will raise its key interest rate to a new European Union high as a standoff with the bloc over the rule of law complicates the central bank’s efforts to end its monetary-tightening cycle. Policy makers will raise the benchmark interest rate by a full percentage point to 12.75%, according to 8 out of 12 analysts in a ...

  Bloomberg The Bank of England’s (BOE) stress tests are meant to provide an unlikely ‘tail risk’ scenario designed to test the resilience of British lenders. The current UK market turmoil means this year’s scenario is looking increasingly plausible. The scenario released amid a UK sell off includes the UK base rate rising rapidly to 6% in early 2023 before ...

  Bloomberg Nigeria’s naira declined further to record lows in both official and unauthorised markets ahead of the central bank of Nigeria rate decision. The local currency unit weakened 1.18% in early morning trading to 436.42 against the dollar in the spot market as of 9 a.m. in the commercial capital of Lagos. It slipped to 720 a dollar in ...