May, 2023

• 10 May

  Italy intends to exit China Belt and Road pact

  

  BLOOMBERG Italy has signalled to the US that it intends to pull out of a controversial investment pact with China before the end of the year. Italian Prime Minister Giorgia Meloni reassured US House Speaker Kevin McCarthy during a meeting in Rome that while a final decision hasn’t been taken, her government is favouring an exit from its role in ...

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• 10 May

  Ukraine reports local breakthrough in Bakhmut

  

  BLOOMBERG Ukraine said troops pushed back Russian forces near Bakhmut in the eastern Donetsk region, though the Russian Defense Ministry said its units were advancing in the west and northwest of the devastated town. Ukraine advanced 2.6 kilometres into Russian-held areas near Bakhmut along a 3 kilometre stretch of front line, according to Andriy Biletskyi, a commander of the brigade ...

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• 10 May

  Warren Buffett’s Japan trading house stock picks hit record highs

  

  BLOOMBERG Shares of the Japanese trading companies that Warren Buffett has invested in reached record levels this week after announcing earnings and buybacks. Mitsubishi Corp, the largest, surged as much as 6% to an all-time high after announcing plans to repurchase $2.2 billion worth of shares along with a better-than-expected profit target for the fiscal year through March 2024. Peers ...

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• 10 May

  Stocks decline as caution prevails before US CPI data

  

  BLOOMBERG Stocks edged lower as cautious investors assessed the latest crop of earnings and awaited a US inflation report for insights on the path of Federal Reserve rate hikes. Contracts for the S&P 500 and the Nasdaq 100 retreated, with Airbnb Inc sliding 13% in premarket trading after the vacation home-rental company gave a cautious forecast for revenue in the ...

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• 10 May

  Hale Ivy Insider: Back with A Bang

  

  ABU DHABI  / GULF TIME Hale is proud to announce its Seventh Annual Ivy Insider: A Conversation with Students and US University Experts at the iconic Hilton Palm Jumeirah. We have an incredible line-up of inspirational talks from panelists consisting of graduating seniors ready to share valuable insight into their challenges and successes throughout their admissions journey. Current and prospective ...

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• 10 May

  Q2 Market Outlook: FOREX.com analysts remain cautiously optimistic

  

  DUBAI / GULF TIME There’s no doubt that 2023 has been lively so far. Equity and commodity traders were quick to rejoice on news of China’s reopening in early January, whilst Yen traders were treated to an out-of-meeting policy adjustment which gave currency markets a jolt. And whilst geopolitical tensions have somewhat receded, they have now been replaced with fears ...

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• 10 May

  UAE: 102.4 Mirchi introduces major technological breakthrough in radio

  

  ABU DHABI / GULF TIME UAE adds yet another feather to its cap as 102.4 Mirchi launches a one of its kind innovations in commercial radio, a first in the world. On 27th April, 102.4 Mirchi, in the UAE is all set to change the way we listen to radio. Taking a step ahead and moving with time, 102.4 Mirchi ...

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• 10 May

  Q Properties launches second phase of Reem Hills luxury apartments project

  

  ABU DHABI / GULF TIME Q Properties – a leading UAE real estate developer and subsidiary of Q Holding – has announced the launch of phase 2 of its new luxury apartments in Reem Hills after buyers snap up all phase 1 units in record time. These apartments come with a 2 years’ service charge waiver, thus offering an attractive ...

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• 9 May

  Passenger traffic at DXB reaches 95.6% of 2019 levels in Q1

  

  DUBAI / WAM Traffic at Dubai International (DXB) has reached 95.6% of 2019 levels with passenger numbers exceeding 21.2 million in the first quarter of the year. This follows DXB’s strong showing in 2022, during which the airport clocked 66 million passengers to retain its position as the world’s busiest international hub for the ninth year running. DXB’s passenger traffic ...

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• 9 May

  CBI net profit increases 65% to AED34mn in Q1

  

  DUBAI / WAM The Commercial Bank International (CBI) has released its financial results for the first quarter of 2023 in Dubai. The financial highlights include a 65% year-on-year increase in net profit from AED20.6 million in Q1 2022 to AED34 million in Q1 2023, a 33% year-on-year increase in net operating income from AED111 million in Q1 2022 to AED148 ...

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