December, 2022

• 11 December

  Venezuela’s Maduro orders team to defend sliding bolivar

    Bloomberg Venezuela President Nicolas Maduro ordered his economic team to take measures to defend the bolivar following a sharp fall against the dollar this month. In a tweet, Maduro said that facing an attack from the “criminal dollar,” his government would move to protect the official exchange rate ahead of the holidays. He blamed criminal groups in Miami for ...

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• 11 December

  Bankman-Fried to testify at US hearing on FTX fallout

  

  Bloomberg The House Financial Services Committee confirmed that former FTX Chief Executive Officer Sam Bankman-Fried will testify at a hearing next week on the disintegration of his crypto empire. He is now listed as a witness alongside current FTX CEO John J Ray III, according to a media advisory the committee. The hearing will be split into two parts, each ...

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• 11 December

  Microsoft, Salesforce to track emissions

  

    Bloomberg A rush of regulation and investor pressure is forcing companies to do a better job of tallying up the environmental impact of their operations and the products they sell. That’s stirring demand for software that helps businesses measure carbon emissions. Salesforce Inc. and Microsoft Corp. have joined at least a dozen startups providing products to help companies calculate ...

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• 11 December

  Twitter relaunches Twitter Blue at higher price for Apple users

  

  Bloomberg Twitter will relaunch its Twitter Blue subscription service for $8 per month on the web, the company said. Users will also get access on iOS for $11 per month to subscriber-only features, including the blue checkmark, the company said in a series of tweets. The days of being constrained to just 280 characters in a tweet may soon be ...

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• 11 December

  Mercedes-Benz commits to make EVs in Thailand

  

    Bloomberg Mercedes-Benz Group AG has committed to manufacturing electric vehicles (EVs) in Thailand after signing an agreement to import its battery-powered cars — part of a government plan to bolster the Southeast Asian nation’s status as a clean automaking hub. The luxury carmaker will receive a slew of benefits including lower import duties and excise taxes for each fully electric ...

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• 11 December

  Stellantis to idle jeep plant in Illinois

    Bloomberg Stellantis NV plans to idle a Jeep-making factory in Belvidere, Illinois, citing challenges such as cost burdens due to the shift towards electrification of more models. The automaker said in a statement that the “difficult but necessary action,” effective Feb. 28, will result in layoffs of an unspecified number of workers, which will likely extend for more than ...

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• 10 December

  UAE stresses importance of cultural coordination among Arab countries

  

    Riyadh / WAM Mubarak Al Nakhi, Under-Secretary of the Ministry of Culture and Youth (MCY), participated in the 23rd session of the Conference of Arab Culture Ministers, which was held in the Saudi capital, Riyadh, under the patronage of His Highness Prince Badr bin Abdullah bin Farhan, Saudi Arabia’s Minister of Culture and Chairman of the National Committee for ...

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• 9 December

  Aramco, Shandong Energy partner on downstream projects in China

  

    DHAHRAN / WAM The Saudi Arabian Oil Company (Aramco) and Shandong Energy group, are exploring collaboration on integrated refining and petrochemical opportunities in China. The companies have signed a memorandum of understanding (MoU) which includes a potential crude oil supply agreement and chemicals products offtake agreement, supporting Aramco’s role in building a thriving downstream sector in Shandong Province. The ...

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• 9 December

  UAE President appoints Faras Al Ramahi as GPSSA Director-General

    Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has issued a federal decree appointing Faras Al Ramahi as Director-General of the General Pension and Social Security Authority (GPSSA). During his career that spans over more than 26 years, Al Ramahi held a number of positions in the financial field, and has experience in asset ...

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• 9 December

  Dubai records AED9.1b in weeklong realty deals

  

    Dubai / WAM A total of 3,186 real estate transactions worth over AED 9.1 billion were conducted during the week ending December 9, according to figures released by the Dubai Land Department (DLD). The DLD report revealed that 419 plots were sold for AED2.24 billion, while 2,233 apartments and villas were purchased for AED4.64 billion. The top three transactions ...

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