April, 2023

• 9 April

  Sheikh Zayed was an icon of giving and humanitarianism, force for good: Fujairah Ruler

  

  FUJAIRAH / WAM HH Sheikh Hamad bin Mohammed Al Sharqi, Supreme Council Member and Ruler of Fujairah, has affirmed that the Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan, was an icon of giving and humanitarianism, and a force for good that benefitted all of humanity. In a statement marking Zayed Humanitarian Work Day, Sheikh Hamad said that ...

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• 9 April

  BOE economist says rates may have to increase as prices fall

  

  BLOOMBERG  The Bank of England (BOE) Chief Economist Huw Pill said officials may need to raise interest rates even as inflation falls to prevent resurgence in prices caused by households and companies trying to claw back their lost income. Inflation is set to drop sharply from the current 10.4% level in the coming months due to lower energy prices and ...

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• 9 April

  JPMorgan’s Dimon sees bank crisis near end even if more fail

  

  BLOOMBERG  The US bank crisis that rattled global markets in March is probably nearing the end, even if more unforeseen failures occur, JPMorgan Chase & Co Chief Executive Officer (CEO) Jamie Dimon said. Only a handful of lenders have the problems that toppled Silicon Valley Bank, and when the industry starts reporting quarterly earnings, the numbers will probably be good, ...

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• 9 April

  Sri Lanka FX reserves rise by $2.69 billion in March

  

  BLOOMBERG  Sri Lanka’s foreign exchange reserves grew in March to the highest in over a year after the South Asian nation clinched a $3 billion International Monetary Fund (IMF) bailout. The stockpile increased to $2.69 billion from $2.22 billion in February, according to data released by the central bank on its website. The reserves include a swap facility from the People’s ...

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• 9 April

  Falconry between past and present at Adihex 2023

  

  ABU DHABI / WAM The 20th edition of the Abu Dhabi International Hunting and Equestrian Exhibition (Adihex) will be held from August 23-29, sponsored by the Environment Agency — Abu Dhabi, the International Fund for Houbara Conservation (IFHC), and the Abu Dhabi National Exhibition Centre (Adnec), which is also the venue of the event. Raising awareness about the value of ...

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• 9 April

  UAB completes issuance of AT1 capital instruments

  

  SHARJAH / WAM United Arab Bank PJSC (UAB) has announced the successful issuance of its $150 million Additional Tier 1 (AT1) capital instrument which recently concluded through a private placement as per the general assembly approval.  This landmark issuance will strengthen the bank’s capital adequacy and boost its Tier 1 Capital ratio. Commenting on the transaction, Shirish Bhide, Chief Executive ...

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• 9 April

  Dubai charity auction raises AED97.9 million for 1 Billion Meals Endowment campaign

  

  DUBAI / WAM The Most Noble Number charity auction, held this evening in Dubai, has raised AED97.920 million that will go in full towards supporting the “1 Billion Meals Endowment” campaign, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to establish the largest Ramadan sustainable food ...

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• 9 April

  UAE leads national efforts with ‘Green Retreat’ ahead of COP28

  

  DUBAI / WAM The UAE Ministry of Climate Change and Environment, a leading force in global climate initiatives, hosted ministers and over 150 high-ranking officials from 50 government and private entities at the ‘Green Retreat’. This collaborative event showcased the UAE’s dedication to addressing climate change and served as a strategic precursor to the nation’s much-anticipated hosting of the Conference ...

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• 9 April

  Airbus to build new China factory for top-selling A320

  

  BLOOMBERG Airbus SE will double production capacity in China of its top-selling jet in a bold bet on future demand in one of the world’s biggest aviation markets. The European planemaker will add a second final assembly line for A320 narrow-bodies at its existing factory in Tianjin, under a deal signed by Chief Executive Officer Guillaume Faury in Beijing. The ...

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• 9 April

  Southwest CEO’s bonus rises despite holiday meltdown

  

  BLOOMBERG Southwest Airlines Co, which promised to cut bonus payments after a late-December meltdown in flight operations, boosted short-term incentive pay for its chief executive officer and chief operations officer. CEO Bob Jordan’s bonus for 2022 rose 89% to $195,720, according to a regulatory filing by the Dallas-based airline. He received more than $5.3 million in total compensation last year, ...

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