June, 2023

• 15 June

  Tecom group secures refinancing for existing loan facility

  DUBAI / WAM Tecom Group, the creator of specialised business districts and vibrant communities, on Thursday announced it has entered into a new five-year AED7.6 billion unsecured loan facility replacing the existing partially utilised term loan of AED7.6 billion. The facility will have a positive impact on the company’s cash flow profile while providing it with the funds to execute …

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• 15 June

  UN adopts UAE- and UK-led resolution on tolerance

  

  NEW YORK / WAM The United Nations Security Council on Thursday adopted a historic resolution, co-penned by the United Arab Emirates (UAE) and the United Kingdom, on tolerance and international peace and security that recognises for the first time that hate speech and extremism can contribute to the outbreak, escalation, and recurrence of conflict. “The UN Charter enshrines our collective …

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• 15 June

  Opec, Japan discuss global energy supplies, prospects for oil markets

  

  VIENNA / WAM Haitham Al Ghais, Secretary-General of the Organisation of the Petroleum Exporting Countries (Opec), and Japan Parliamentary Vice-Minister for Foreign Affairs Kei Takagi, discussed the current global energy supplies and future prospects for oil markets. During their meeting at Opec’s headquarters in Vienna, the two sides reviewed the expectations of global demand, highlighting the significance of establishing a …

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• 15 June

  DoH, Mass General Brigham’s iCGD partner to advance research

  

  ABU DHABI / WAM The Department of Health – Abu Dhabi (DoH), the regulator of the healthcare sector in the emirate, signed a declaration of collaboration with Mass General Brigham’s International Centre for Genetic Disease (iCGD). The agreement was signed during the BIO International Convention 2023 and is intended to advance life sciences across three strategic pillars including clinical and …

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• 15 June

  UAE President meets Serbian counterpart to discuss bilateral ties and regional issues

  

  BELGRADE / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan on Thursday made a working visit to Serbia, where he met with President Aleksandar Vucic to review relations between the two countries and discuss regional and international developments. His Highness Sheikh Mohamed and President Vucic discussed existing areas of cooperation between the UAE and Serbia and explored opportunities …

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• 15 June

  BMW first to source CelestiAL-R, says Emirates Global Aluminium

  

  ABU DHABI / WAM Emirates Global Aluminium (EGA) on Thursday announced that BMW Group is the first customer for CelestiAL-R, EGA’s world-first blend of solar aluminium and recycled metal. All EGA’s aluminium supplies to BMW Group since the start of 2023 have been CelestiAL-R. The metal is used in BMW Group electric drivetrain housings, engine components and large-scale structural parts. …

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• 15 June

  G42, Adio collaborate with Viola to create Global Valley

  

  ABU DHABI / WAM G42, the leading Abu Dhabi-based technology company, and Viola, Israel’s leading technology investment group with over $5 billion in assets under management, on Thursday launched Global Valley, a talent-as-a-service platform that meets the ongoing worldwide demand for top tech talent. The joint venture between G42 and Viola is supported by the Abu Dhabi Investment Office (Adio) …

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• 15 June

  Chaired by Sheikh Mansour, CBUAE takes measures to limit interest rate hike impact

  

  ABU DHABI / WAM His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, Minister of the Presidential Court and Chairman of the Central Bank of the UAE (CBUAE), has chaired the meeting of the CBUAE Board of Directors, which took place at Qasr Al Watan, Abu Dhabi. The CBUAE board went over the meeting’s agenda, reviewed …

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• 15 June

  UAE President sends letter to his Philippine counterpart with COP28 invitation

  

  ABU DHABI / WAM UAE President HH Sheikh Mohamed bin Zayed Al Nahyan sent a letter to Ferdinand Marcos Jr, President of the Republic of the Philippines, which included an invitation to the Conference of the Parties to the UN Framework Convention on Climate Change (COP28), which will be held at Expo City Dubai in November. The invitation was presented to …

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• 15 June

  Yen falls to 7-month low as traders shift focus from Fed to BOJ

  

  BLOOMBERG The yen weakened to its lowest since November against the dollar as traders shifted their focus from a hawkish Federal Reserve to Friday’s Bank of Japan (BOJ) policy decision. The relatively hardline stance from Fed officials stands in sharp contrast to BOJ policymakers who have stuck with monetary easing even as most global peers tighten, a disparity that favors …

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