February, 2023

• 19 February

  Instagram rolls out new feature to deliver posts directly to followers

  

    Bloomberg Instagram is rolling out a new feature called broadcast channels that lets users send text or photo updates directly to followers, the latest attempt by the Meta Platforms Inc. division to fine-tune the service. Meta Chief Executive Officer Mark Zuckerberg announced the news on his Instagram account by creating a channel of his own. The idea is to ...

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• 19 February

  Google’s $168bn in online ad business at risk in court case

  

    Bloomberg The US Supreme Court is poised to hear a case that could spell danger for the internet’s most lucrative business: online advertising. The case, Gonzalez v. Google, will be argued on Tuesday and centers on whether internet companies are liable for the content their algorithms recommend to users. The tech industry says it’s protected by a legal shield ...

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• 19 February

  Tesla recalls 362,000 cars over crash risk

    Bloomberg Tesla Inc. is recalling hundreds of thousands of vehicles after US authorities said its automated-driving technology could increase the risk of a crash. The automaker’s so-called Full Self-Driving Beta system “may allow the vehicle to act unsafe around intersections,” including travelling straight through from a turn lane and proceeding through steady-yellow traffic lights, according to a filing with ...

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• 18 February

  UAE continues to send relief to quake victims in Türkiye, Syria

  

  Abu Dhabi / WAM For the past 12 days, the UAE has been providing assistance to the victims of the earthquakes in Türkiye and Syria as part of the ‘Gallant Knight/2’ operation. To date, 97 cargo planes have been sent to both countries, with 58 flights carrying 1918 tonnes of relief materials to Syria, and 39 flights carrying 706 tonnes ...

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• 18 February

  Adnoc aims to list 4% stake of its gas business on ADX

  

    Abu Dhabi / WAM Adnoc has announced its intention to float a 4% minority stake in Adnoc Gas, its world-class gas processing, operations and marketing company, on the Abu Dhabi Securities Exchange (ADX). The offering is expected to open on February 23, subject to regulatory approvals and other relevant considerations. Adnoc Gas (the company), formed in January 2023 through ...

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• 18 February

  UAE leaders wish President of Kosovo on Independence Day

    Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to President Vjosa Osmani of Kosovo, on the occasion of her country’s Independence Day. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, also dispatched similar messages to the ...

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• 18 February

  Gross subscriptions written for Takaful insurance hit AED4.35b

  

  Abu Dhabi / WAM The central bank of the UAE (CBUAE) has released a comprehensive report on the Takaful insurance sector in the UAE, with the aim of developing this critical industry and enhancing the country’s position as a leading Takaful insurance market globally. The report highlights the growing importance of the Takaful insurance sector in the local market, as ...

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• 18 February

  Dewa, France’s Eutelsat to enhance cooperation

  

  Dubai / WAM Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (Dewa), welcomed a high-level delegation from France’s satellite operator Eutelsat, headed by its CEO Eva Berneke. The delegation included Cyril Dujardin, General Manager of the Connectivity BU; Ghassan Murat, Head of Connectivity BU, Mena, Africa and Asia; and Hani El Arja, VP of Connectivity ...

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• 18 February

  United Arab Bank profit up 120% in 2022

    Sharjah / WAM United Arab Bank PJSC (UAB) released its financial results for the year ending December 31, 2022, reporting a net profit of AED155 million. This represents a 120% increase from the AED70 million net profit recorded in 2021, driven by improved operating performance and lower expected credit losses, alongside disciplined cost control. UAB’s core businesses have made ...

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• 18 February

  Edge expands its portfolio, buys 70% stake in Gradeone

  

    Abu Dhabi / WAM Edge group PJSC has taken a 70 percent stake in Abu Dhabi-based Gradeone that specialises in manufacturing non-lethal pyrotechnics, ammunition, defence-related components and packing solutions, as well as defence trading. Gradeone will join Edge under its Trading & Mission Support cluster. The announcement has come ahead of the International Defence Exhibition (Idex) to be held ...

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