October, 2022

• 21 October

  Adnoc Drilling sets new world record for longest oil, gas well

  

    Abu Dhabi / WAM Abu Dhabi National Oil Company (Adnoc) announced on Thursday that a new world record for the longest oil and gas well has been set at its Upper Zakum Concession. Stretching 50,000 feet, the well is around 800 feet longer than the previous world record set in 2017 and supports Adnoc’s efforts to expand production capacity ...

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• 21 October

  Edge to showcase its advanced tech solutions at Sofex in Jordan

  

    Abu Dhabi / WAM Edge group PJSC (Edge or the ‘group’), one of the world’s top 25 advanced technology groups for defence and beyond, is proud to be participating in the Special Operations Forces Exhibition (Sofex), being held at Aqaba Gate Aviation, King Hussein International Airport in Aqaba, Jordan, from November 1-3. Edge will use its presence at the ...

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• 21 October

  Dubai issues law to regulate endowments, minors’ trusts

  

    Dubai / WAM In his capacity as the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, issued Law No. (17) of 2022 on Dubai’s Endowments and Minors’ Trust Foundation. His Highness also issued Law No. (18) of 2022 affiliating the Mohammed Bin Rashid Global Centre for Awqaf and ...

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• 21 October

  Seha, ADU to promote medical education, knowledge transfer

  

    Abu Dhabi / WAM Abu Dhabi Health Services Company (Seha), the UAE’s largest healthcare network, has signed a memorandum of understanding (MoU) with Abu Dhabi University (ADU) to bolster medical education and mutual knowledge transfer between the two entities. The partnership will aim to promote ties between both parties through student placements, training programmes, sharing of facilities and resources, ...

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• 21 October

  Saif Zone, HFZA win Superbrands Award

  

    Sharjah / Gulf Time Adding yet another milestone to their track record of global achievements, the Sharjah Airport International Free Zone Authority (Saif Zone) and Hamriyah Free Zone Authority (HFZA) received the prestigious “Superbrands Award 2022” for the second year in a row. The new achievement is yet another testament to the success of the two free zones in ...

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• 21 October

  Gargash Hospital organises fashion walk – Warriors’ Way Forward

  

    Dubai / Gulf Time As part of its ongoing campaign to raise awareness about breast cancer and highlight the importance of regular screenings, Gargash Hospital, organised a fashion walk – Warriors’ Way Forward – to demonstrate to the community that it is possible to a have a normal life after cancer if detected at an early stage and treated ...

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• 21 October

  Adib named safest Islamic financial institution

    Abu Dhabi / WAM Abu Dhabi Islamic Bank (Adib), a leading Islamic financial institution, announced on Thursday that it has been named the safest bank for 2022 by New York based trade publication Global Finance Magazine, marking the first time the bank has achieved this accolade. Adib was recognised at the awards ceremony held in conjunction with the 2022 ...

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• 21 October

  Jeremy Hunt, markets take Truss on a welcome U-turn

  

  Reality has undone Trussonomics in a few short weeks. Incoming Chancellor of the Exchequer Jeremy Hunt has wasted no time putting his predecessor Kwasi Kwarteng’s tax cuts to the sword. While it’s never a good look for your economic policies to be dictated by swings in the financial markets, a full 180-degree switch was required to draw a line under ...

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• 20 October

  Will variable mortgages make a comeback

  

    Adjustable-rate mortgages, or ARMs, have a bad reputation with homebuyers who have long viewed them as a dangerous financial trap. But with rates on fixed-rate mortgages more than doubling in the past year, some borrowers are taking a second look. The idea of paying less now in exchange for the risk of paying more later seems reasonable if you ...

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• 20 October

  The Twitter mess would never happen in the UK

    The UK takeover regime isn’t kind to private equity buyers. It got even tougher after Kraft Foods Inc.’s bitter acquisition of rival confectioner Cadbury in 2010. But are its rules too restrictive? If the leveraged finance market bounces back, UK stocks should be a prime hunting ground for the private equity industry. Yet local M&A rules are often seen ...

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