April, 2023

• 7 April

  UAE President invites Egypt’s El Sisi to COP28

  

  ABU DHABI / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a written message to Egyptian President Abdel Fattah El Sisi, inviting him to attend the COP28 Climate Change Conference, to be held at Expo City Dubai in November. The message was delivered to the Egyptian President by Mariam Al Kaabi, UAE ambassador to the Arab ...

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• 7 April

  Zero Two digital assets infra firm launches in Abu Dhabi

  

  ABU DHABI / WAM Zero Two, a digital assets infrastructure company based in Abu Dhabi, has launched its operations to serve the growing interest in Web3 technology and its ecosystem. The company offers a comprehensive range of end-to-end digital assets infrastructure solutions, including power infrastructure development, sourcing and testing of latest-generation technologies, data centre building and operation, and digital assets ...

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• 7 April

  Sheikh Nahyan joins dinner to honour Cleveland’s physicians

  

  ABU DHABI / WAM Cleveland Clinic Abu Dhabi, a Mubadala Health partner, hosted a celebratory dinner in honour of its physicians and healthcare professionals. The dinner was attended by Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence; and Hasan Jasem Al Nowais, Vice Chairman, Cleveland Clinic Abu Dhabi and Chief Executive Officer, Mubadala Health. The event celebrated ...

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• 7 April

  Sharjah Ruler opens Al Dhaid Mosque

  

  SHARJAH / WAM HH Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, on Thursday inaugurated Al Dhaid Mosque which accommodates 7,000 worshippers, in Al Awaided area in Al Dhaid city. Upon his arrival, the Ruler of Sharjah removed the curtain to mark the opening of the mosque, with its distinctive feature of a mixture ...

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• 7 April

  Dubai Culture organises Sikka Ramadan pop-up

  

  DUBAI / WAM Dubai Culture and Arts Authority (Dubai Culture) is hosting a two-week Sikka Ramadan Pop-Up at the Al Safa Art and Design Library. The event will be held in two sessions, the first  from 7-9 April and the second from 14-16 April. The pop-up will feature talented fashion designers who will showcase their unique designs and products that ...

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• 7 April

  ZHO sets up cheese factory at People of Determination centre

  

  ABU DHABI / WAM The Zayed Higher Organisation for People of Determination (ZHO) has set up a cheese factory at the ZHO’s People of Determination Production Centre in Al Bahia area, Abu Dhabi, adopting “Made in the UAE” slogan. The move is geared towards meeting the daily production requirements of various dairy products, storing goat milk for later production and ...

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• 6 April

  Credit Suisse’s fatal bank run points to gaps in liquidity rules

  

  BLOOMBERG  Credit Suisse AG was hit by renewed outflows over several days in March that took it to the brink of bankruptcy, even when it was supposed to have enough funds to cover a month of deposit flight. As Swiss officials and Credit Suisse executives emphasised that the firm’s emergency sale staved off imminent collapse, they highlighted how sharp the ...

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• 6 April

  Walmart bets on warehouse robots, dangles profit potential

  

  BLOOMBERG Walmart Inc is betting on greater supply-chain automation and hinting that a recent investment binge might lift profit beyond the retailer’s stated long-term goals. Within three years, the unit cost of moving goods will fall 20% as warehouse robots play a larger role in speeding goods to customers, Walmart said. While the company reiterated its outlook for this year ...

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• 6 April

  FedEx targets $4bn cost cuts by merging delivery networks

  

  BLOOMBERG FedEx Corp is seeking to cut $4 billion in costs by combining its two main delivery networks, in an ambitious plan by new Chief Executive Officer (CEO) Raj Subramaniam to increase profit margins. The company has for decades operated an express package business separately from its ground unit, which FedEx acquired in 1998 and depends on third-party contractors to ...

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• 6 April

  Branson’s rocket-launch firm Virgin Orbit files for bankruptcy

  

  BLOOMBERG Virgin Orbit Holdings Inc filed for bankruptcy after the satellite launch firm tied to British billionaire Richard Branson failed to secure the funding needed to keep operating and cut about 85% of its staff. The company listed $243 million in assets and $153.5 million for its total debt in a Chapter 11 petition filed in Delaware. The move punctuates ...

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