December, 2022

• 22 December

  UAE, Morocco discuss strategic cooperation

    Rabat / WAM During an official visit to Morocco, Dr Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, met with Aziz Akhannouch, Prime Minister of Morocco, and several ministers from the Moroccan government. The meeting was attended by Al Asri Saeed Ahmed Al Dhaheri, UAE ambassador to Morocco. At the beginning of the meeting, Dr Sultan Ahmed ...

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• 22 December

  Saudi Arabia’s Hassana invests $2.4b in DP World’s UAE assets

  

    Dubai / WAM DP World and the Saudi Arabia-based Hassana Investment Company (Hassana), the investment manager for the General Organisation for Social Insurance (Gosi), which owns one of the world’s largest pension funds, announced on Wednesday an investment of approximately $2.4 billion (AED8.82 billion) in three of DP World’s flagship UAE assets. This sale of a strategic minority stake ...

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• 22 December

  Adnoc acquires 24.9% stake in Austria’s OMV from Mubadala

  

    Abu Dhabi / WAM Abu Dhabi National Oil Company (Adnoc) and Mubadala Investment Company (Mubadala) on Wednesday announced a transaction involving OMV AG (OMV), a global energy and chemicals group, headquartered and listed in Vienna, Austria. Under the agreement, Adnoc will acquire a 24.9% shareholding in OMV from Mubadala. Financial details of the transaction are not being disclosed. Upon ...

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• 22 December

  Mother of the Nation Festival extended due to popular demand

  

  Abu Dhabi / WAM The Mother of the Nation Festival (Motn) will return with more action, shopping and mouth-watering cuisine from December 23 to January 1. The Motn festival is returning by popular demand, to kick off the festive season in style on the Abu Dhabi Corniche. The region’s ultimate entertainment event will reopen following its wildly popular 10-day run ...

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• 22 December

  Publilink receives coveted ‘company of the year award’

  

    Dubai / Gulf Time Al Abbas Group, UAE’s leading business conglomerate held their annual AAG Excellence Awards 2021-22. AAG Excellence Awards is an annual event organised by the Al Abbas Group to recognise and reward employees, across the group, for their performances in various categories. The third edition of AAG Excellence Awards was a glittering event attended by Ebrahim ...

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• 22 December

  UAE, Nepal discuss ways to enhance bilateral ties

    KATHMANDU / WAM Abdulla Al Shamsi presented his credentials as the UAE ambassador to Nepal to President Bidhya Devi Bhandari of Nepal, at the presidential palace in the capital, Kathmandu. During the meeting, Al Shamsi conveyed the greetings of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President ...

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• 22 December

  Moro Hub partners with F5 to expand application security

  

    Dubai / WAM Moro Hub, a subsidiary of Digital Dewa, the digital arm of Dubai Electricity and Water Authority (PJSC), has signed a Managed Service Provider Agreement (MSP) with F5 – a multi-cloud application security and delivery company committed to bringing a better digital world to life. The new partnership entails ensuring that Moro Hub’s customers across the region ...

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• 22 December

  Amazon, P&G fall short on environmental paper goals

  

    Bloomberg Companies from Procter & Gamble Co to Walmart Inc are lagging in efforts to mitigate environmental impact from the paper products they make and sell, according to a new report from an advocacy group. Environment America assessed the progress of six companies on their use of virgin fibres and indirect greenhouse-gas emissions. The group also looked at whether ...

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• 22 December

  Mondelez sells gum unit to Perfetti in $1.35b deal

  

    Bloomberg Mondelez International Inc agreed to sell its gum business in some of its major markets to European rival Perfetti Van Melle SpA. The deal values the business at about $1.35 billion, the companies announced. The sale includes brands such as Trident, Bubblicious, Chiclets, Dentyne and some European candy. Perfetti will own the portfolio in the US, Canada and ...

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• 22 December

  Swatch not to enter second-hand luxury watch market, says CEO

  

    Bloomberg Swatch Group AG Chief Executive Officer Nick Hayek said he doesn’t see the need to regulate the $20 billion market for second-hand luxury watches, contradicting moves by Rolex SA and H Moser & Cie. “Why should we mix ourselves into the market of used watches,” Hayek said in a Bloomberg TV interview. “This is a market that is ...

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