May, 2023

• 10 May

  UAE leads int’l, Arab rankings in attracting investments: Hanafi

  

  ABU DHABI / WAM Dr Khaled Hanafi, Secretary-General of the Union of Arab Chambers, said the UAE had become a centre for foreign investments, leading Arab, regional and global rankings in attracting investments. In a statement to the Emirates News Agency (WAM) on the sidelines of the Annual Investment Meeting (AIM) 2023, Hanafi stressed that business owners in the Arab ...

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• 10 May

  Sheikh Hamdan appoints new heads of Economic Development Corporation and Business License Corporation

  

  DUBAI / WAM His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, has issued Executive Council Resolution No (30) of 2023 appointing Hadi Mohammed Taher Mohammed Badri as the Executive Director of the Dubai Economic Development Corporation. His Highness also issued Executive Council Resolution No (31) of 2023 appointing ...

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• 10 May

  Adnoc aims to list 15% stake in its logistics unit on ADX

  

  ABU DHABI / WAM Adnoc has announced its intention to float a 15% minority stake in Adnoc Logistics & Services (Adnoc L&S), its mission-critical global energy maritime and integrated logistics leader, on the Abu Dhabi Securities Exchange (ADX). The offering is expected to open on May 16, subject to regulatory approvals and other relevant considerations. Adnoc L&S is a vital ...

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• 10 May

  Sultan AlNeyadi to host live call for students in Mauritius from ISS

  

  DUBAI / WAM The Mohammed Bin Rashid Space Centre (MBRSC) on Wednesday announced the international debut of “A Call From Space,” a live call series hosted by Sultan AlNeyadi. From the International Space Station (ISS), in the State of Mauritius, in line with the recently signed memorandum of understanding (MoU) with Mauritius, aimed at supporting the space sector of the ...

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• 10 May

  Emirates NBD’s four branches achieve LEED certifications

  

  DUBAI / WAM Emirates NBD has announced that four of its branches in the UAE and KSA have achieved LEED Platinum and LEED Gold certifications. The Emirates NBD Mall of the Emirates (MOE) branch in Dubai is now the first LEED Platinum ID+C V4 bank in the Mena region and the first Arab bank branch globally to obtain this certificate, ...

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• 10 May

  Norway irks investors with plan to slap 40% tax on wind power

  

  BLOOMBERG As the US and EU throw billions at building out the industry needed for the transition to a low-carbon economy, Norway is spooking investors by slapping taxes on wind farms. Norway’s Labour-Centre government is boosting taxes as the cost of pensions, health services and care for the elderly outpace mainland revenues. Salmon farmers, wind turbine owners and hydropower producers ...

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• 10 May

  UK firms turn to temporary staff as wages keep rising

  

  BLOOMBERG UK companies are increasingly relying on short-term workers amid hiring freezes and economic uncertainty, a new survey showed. Permanent staff hiring declined at the sharpest pace in over two years in April, according to a report from KPMG and the Recruitment and Employment Confederation (REC). At the same time, companies registered the quickest jump in billings from temporary staff ...

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• 10 May

  Spain’s premier to ask Biden to drop Trump-era olive tariffs

  

  BLOOMBERG Spanish Prime Minister Pedro Sanchez will ask President Joe Biden to scrap Trump-era duties on his country’s olives that have strained trade ties between the US and European Union (EU). In his first official visit to the White House since he took office in 2018, Sanchez will appeal to Biden to remove the tariffs and put an end to ...

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• 10 May

  EU’s fastest inflation slips as Hungary eyes rate-cut cycle

  

  BLOOMBERG Hungarian inflation, the European Union’s (EU’s) fastest, eased for a third month, bringing the central bank closer to cutting the bloc’s highest key interest rate. The inflation rate dropped to 24% in April from 25.2% the previous month, lower than the median estimate of 24.1% in a Bloomberg survey. Month-on-month prices increased 0.7%. Central bank officials will assess the ...

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• 10 May

  Biden to host state dinner for India’s Modi on June 22

  

  BLOOMBERG US President Joe Biden will host India’s Narendra Modi for a state dinner on June 22, the White House confirmed on Wednesday, marking his third such formal event after dinners for the leaders of France and South Korea. “The upcoming visit will affirm the deep and close partnership between the United States and India and the warm bonds of ...

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