October, 2022

• 2 October

  Apple’s tech supply chain shows difficulty of dumping China

  

    Bloomberg American companies have had a growing list of reasons to downgrade their ties with China in recent years. Former President Donald Trump’s tariffs. Beijing’s stringent Covid lockdowns. The US-Sino standoff over Taiwan. Political pressure to “friend-shore” supply chains towards nations aligned with Washington. But breaking up, as the adage goes, is hard to do. That conclusion is evident ...

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• 2 October

  RoboSense seeks $150m in new round

    Bloomberg RoboSense, a Chinese developer of sensor technologies used in self-driving cars, is raising about $150 million in a new funding round to bankroll its product expansion, according to people familiar with the matter. The latest round has drawn investors including China Structural Reform Fund and Mirae Asset Securities Co., said the people, who asked not to be identified ...

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• 1 October

  UAE, China bilateral ties a global model to follow: Suhail Al Mazrouei

  

    ABU DHABI / WAM Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, has said that the bilateral relations between the UAE and China are a global model to follow. He also mentioned the strategic ties between the two countries were upgraded to a comprehensive partnership, thanks to their significant development prospects. In his recorded message to the ...

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• 1 October

  UAE condemns terror attack on Kabul educational center

    Abu Dhabi / WAM The UAE strongly condemned the terrorist attack that targeted an educational centre west of the Afghan capital, Kabul, and resulted in the death and injury of a number of people, the majority of whom were students. The Ministry of Foreign Affairs and International Cooperation (MoFAIC) affirmed that the UAE expresses its strong condemnation of these ...

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• 1 October

  Taqa secures refinancing of $3.5bn credit facility

  

    ABU DHABI / WAM Abu Dhabi National Energy Company (Taqa) on Friday announced that it has secured refinancing its $3.5 billion revolving credit facility. Secured via a syndicate comprising 20 banks, the new 5-year USD SOFR-based facility, which will be utilised for general corporate purposes, is set to replace the organisation’s existing $3.5 billion revolving credit facility, signed in ...

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• 1 October

  Adio partners with Innovaccer to boost heathcare services in Mideast

  

    ABU DHABI / WAM The Abu Dhabi Investment Office (ADIO) on Friday announced that it is partnering with Innovaccer, the Health Cloud company, to improve the accessibility, affordability and quality of healthcare in the Middle East. Under the partnership, Innovaccer will receive financial and non-financial incentives to set up its regional headquarters in Abu Dhabi, as part of ADIO’s ...

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• 1 October

  Emirates, United Cargo ink interline, block space deal

  

    Dubai / WAM Emirates SkyCargo and United Cargo signed a memorandum of understanding (MoU) that follows on the heels of the new broader historic commercial agreement between two of the largest global airlines. This coordination will deliver benefits to air freight customers of both Emirates Skycargo and United Cargo around the world. The MoU was signed at the World ...

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• 1 October

  Burjeel sets price range for its IPO

    ABU DHABI / WAM Burjeel Holdings on Friday announced the offer price range and the opening of the subscription period for its initial public offering (IPO) on the Abu Dhabi Securities Exchange (ADX). The opening of the subscription period for the Offering commences on September 30, and will continue until Tuesday October 4 for the first tranche (offering to ...

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• 1 October

  Dubai records decade-high $6.63b realty sales in August

  

    Dubai / WAM The real estate sector in the emirate of Dubai continued to maintain a sustainable growth in the number and value of sales during the month of August, as it witnessed the registration of 9,720 real estate sales, worth AED24.34 billion. This came in Mo’asher, Dubai’s official sales price and rental performance index launched by Dubai Land ...

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• 1 October

  Emirates SkyCargo, United Cargo announce landmark agreement

  

    Dubai / WAM Emirates SkyCargo and United Cargo signed a memorandum of understanding (MoU) that follows on the heels of the new broader historic commercial agreement between two of the largest global airlines. This coordination will deliver benefits to air freight customers of both Emirates Skycargo and United Cargo around the world. The MoU was signed at the World ...

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