October, 2022

• 4 October

  Safeen, Amaan Baghdad sign fuel oil transport, storage deal

  

    Abu Dhabi / WAM AD Ports group’s Safeen group and Amaan Baghdad company signed an agreement to support a new project relating to fuel oil transport and storage from Khor Al Zubair and Umm Qasr oil terminals in Iraq. The project represents a significant extension of Safeen group’s portfolio of dedicated products and services in the oil and gas ...

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• 4 October

  DP World to support growth ambitions of large companies

  

    Dubai / WAM DP World has launched the Global Business Corporation (GBC), a new strategic arm focused on supporting large companies in achieving their growth ambitions. The initiative, which is set to further raise Dubai’s profile as a preferred global business destination, invites companies to enhance their international operating models with a base in the emirate. Driven by the ...

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• 4 October

  UAE ministry launches Customer First Forum

  

  Dubai / WAM The Ministry of Human Resources and Emiratisation (MoHRE) has announced the launch of the Customer First Forum, which comprises virtual sessions scheduled on a weekly basis to respond to queries of the employers and employees in the private sector and UAE nationals seeking employment. The Customer First Forum aims to listen to the feedback of all parties ...

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• 4 October

  DMCC named Global Free Zone of the Year once again

    Dubai / WAM DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – has been named Global Free Zone of the Year 2022 by the Financial Times’ fDi Magazine for the eighth consecutive year. The award, among the most prestigious of accolades a free zone can earn, is decided by the ...

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• 4 October

  Tadweer produces 1mn tons of products recycled from waste

  

    Abu Dhabi / WAM Abu Dhabi Waste Management Centre (Tadweer) announced that it has produced more than 1 million tonnes of products recycled from waste materials collected in the emirate of Abu Dhabi during the first half of 2022. This comes in line with Abu Dhabi’s strategy to promote sound waste management and recycling, and its aim to convert ...

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• 4 October

  Abu Dhabi upgrades parking payments to 5G smart system

  

    ABU DHABI / WAM In a move that improves the quality of services provided to customers and enhances the efficiency of the public parking system, the Integrated Transport Centre (ITC) of the Department of Municipalities and Transport (DMT) in Abu Dhabi, has announced the commencement of upgrading of all parking payment machines to a 5G smart system. The system ...

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• 4 October

  Is it too late for Truss to repair the damage?

  

  First impressions count, especially when it comes to economic policy. UK Prime Minister Liz Truss and Finance Minister Kwasi Kwarteng last week announced a fresh start for the country with a big shift in fiscal policy — and hit the ground face first. Their plan has crashed the pound, wrecked the government bond market, and destroyed the Bank of England’s ...

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• 4 October

  Welcome to the scary inflationary world

  

    The world looked on in horror last week as the UK’s market collapse prompted the Bank of England to reverse its plans for quantitative tightening with a spectacular intervention in the gilt market — “on whatever scale is necessary” — to save the nation’s pensions system. So far, this appears to be a uniquely British debacle. But what if ...

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• 4 October

  Bond markets nearing a painful inflection point

    This week’s bond meltdown has sent the mean 10-year borrowing cost for Group of Seven countries to its highest in more than a decade, with the average yield surging above 3%. What happens next could set the tone for financial markets and the global economy for years to come. And your guess is as bad as mine as to ...

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• 4 October

  Ian is a wake-up call on costs of climate paralysis

    After a sleepy start to the North Atlantic hurricane season, Ian jolted us all awake. The storm tore through the Carolinas and beyond. But all we can see at the moment is the devastation left behind in Florida. At least 15 people have been confirmed dead, some 2.6 million homes and businesses are without power and two bridges have ...

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