August, 2023

• 4 August

  BOE raises rates to 5.25% with warning policy will remain tight

  

  BLOOMBERG The Bank of England (BOE) raised interest rates to a new 15-year high, warning that its fight against inflation may require tighter borrowing conditions for a prolonged period. The UK central bank lifted its key rate a quarter point to 5.25%, a smaller hike than the half-point increase delivered in June. Investors and economists had expected the move and …

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• 4 August

  Next raises profit guidance again as summer sales boom

  

  BLOOMBERG Next Plc raised its guidance for the second time in recent months after wet weather and sticky inflation failed to deter shoppers from buying fashion. Full-price sales in the second quarter rose nearly 7% on last year, according to the company’s earnings report. That has driven Next to increase its forecast for profit before tax by £10 million ($12.7 …

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• 4 August

  Lufthansa, Wizz slide on cost pressures, capacity plan pullbacks

  

  BLOOMBERG Deutsche Lufthansa AG and Wizz Air Holdings Plc slid after reporting robust quarterly results, as investors focused in on capacity constraints and cost pressures that will prevent the carriers from taking full advantage of demand for air travel. Lufthansa, Europe’s biggest airline group, said that cost inflation is being driven by a rise in air traffic control and airport …

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• 3 August

  Dubal Holding, Thailand’s Oriental Copper sign pact

  

  DUBAI / WAM DUBAL Holding, the investment arm of Dubai Government in the commodities, mining, power, energy, and industrial sectors, has signed a Memorandum of Understanding (MoU) with Oriental Copper, a manufacturer of high conductivity copper products in Thailand, to manufacture high-quality copper products in the UAE. The MoU was signed by Ahmad Hamad bin Fahad, CEO of DUBAL Holding, …

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• 3 August

  GMC, an ideal platform for fast-tracking media sector’s development: Al Zeyoudi

  

  ABU DHABI / WAM Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, said that the second edition of the Global Media Congress (GMC), held under the patronage of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Minister of the Presidential Court, is an ideal platform for fast-tracking the development of …

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• 3 August

  UAE Foreign Minister, Argentinian counterpart discuss fostering ties

  

  ABU DHABI / WAM HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs, has discussed bilateral relations and mutual cooperation with Santiago Andrés Cafiero, Minister of Foreign Affairs, International Trade and Worship of the Republic of Argentina. During a phone call, the two sides explored the ways to enhance cooperation for their mutual interests. Minister Cafiero expressed his …

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• 3 August

  DXB LIVE to organise 3rd World of Coffee Exhibition in 2024

  

  DUBAI / WAM DXB LIVE, the integrated event management and experiential agency of Dubai World Trade Centre, will organise the third edition of the World of Coffee Exhibition in 2024, in line with its unwavering commitment to supporting the thriving coffee sector in the Middle East and North Africa (Mena) region. The exhibition will be held in collaboration with the …

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• 3 August

  Aurora50 unveils ‘Noora’ new corporate network for women

  

  DUBAI / WAM Aurora50, the UAE-based training and development company dedicated to creating thriving, inclusive workplaces, in partnership with Abu Dhabi National Energy Company PJSC (Taqa),  Accenture, Emirates Global Aluminium (EGA), Emirates Group, and Enoc, have launched new membership community named “Noora” to support ambitious corporate women, from first-time managers to leaders of leaders. Supporting the UAE’s continued efforts to …

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• 3 August

  UAE opens coordination office for foreign aid in Chad

  

  AMDJARASS / WAM The second coordination office for UAE foreign aid was inaugurated in the Chadian city of Amdjarass, as part of the UAE’s continuous efforts to provide assistance to the Chadian people and support endeavours to provide humanitarian and relief aid through the UAE’s humanitarian institutions to Sudanese refugees in Chad. Sultan Mohammed Al Shamsi, Assistant Minister for Development …

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• 3 August

  Sheikh Sultan bin Ahmed witnesses graduation of ‘Police Friends’ programme

  

  SHARJAH / WAM HH Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah, witnessed on Thursday, the graduation of the participants of the 36th Summer Course for Police Friends and 5th for Police Female Friends, at Culture Palace. Following the rendition of the UAE national anthem and recitation of some verses from the Holy Quran, police friend …

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