September, 2022

• 2 September

  China’s mega banks hit by margin squeeze

  

    Bloomberg China’s biggest banks, including Industrial & Commercial Bank of China Ltd., reported slowing earnings growth and eroding margins after being enlisted by Beijing to help stave off a deeper slump in the world’s second-biggest economy. ICBC, the world’s biggest bank by assets, reported net income grew 4.9%, the slowest in two years, in the first half of the ...

  Read More »
• 2 September

  Chinese stock’s 13,000% surge creates another US IPO mystery

  

    Bloomberg Another Chinese firm is baffling investors with massive gains on its first day of trading in the US, following on from stellar debuts for AMTD Digital Inc. and Magic Empire Global Ltd. Addentax Group Corp. soared as much as 13,031% on Wednesday in its debut session, triggering more than 20 volatility halts. Its market capitalisation has ballooned to ...

  Read More »
• 2 September

  Stocks, bonds extend selloff; dollar gains

  

  Bloomberg Stocks and bonds extended their selloff on Thursday as a hawkish drumbeat from central banks and a lockdown in China further frayed investor nerves. The dollar gained. A global equity index hit a six-week low as Nasdaq 100 futures fall after a sales warning from Nvidia Corp. Miners led declines in Europe as commodities dropped amid concerns that aggressive ...

  Read More »
• 1 September

  UAE’s Hope probe discovers ‘patchy’ Mars proton aurora

  

    Abu Dhabi / WAM The Emirates Mars Mission (EMM), the first interplanetary exploration undertaken by an Arab nation, has made first observations of a new type of proton aurora around Mars. The spatially variable ‘patchy’ proton aurora potentially triggers new insights into unexpected behaviours in the Martian atmosphere. The EMM team has worked together with Nasa’s Maven (Mars Atmosphere ...

  Read More »
• 1 September

  Adnoc awards $1.83b deals for drilling-related services

  

    Abu Dhabi / WAM Abu Dhabi National Oil Company (Adnoc) on Wednesday announced the award of five framework agreements valued at $1.83 billion (AED6.72 billion) for Directional Drilling and Logging While Drilling (LWD) to support its efforts to expand production capacity of its low carbon oil and gas resources to help meet the world’s growing demand for energy. The ...

  Read More »
• 1 September

  President appoints new chief of National Library and Archives

    Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has issued a Federal Decree appointing Abdulla Majid Al Ali as the Director-General of the National Library and Archives, with the rank of Undersecretary.

  Read More »
• 1 September

  Jafza’s trade grows 19% to AED454.7bn in 2021

  

    Dubai / WAM Underpinning its status as a key pillar supporting Dubai’s economy, DP World’s flagship Jebel Ali Free Zone (Jafza) generated over AED454.7 billion in trade in 2021, up 19 percent year-on-year. The rise in trade compares to the AED382.8 billion facilitated by Jafza in 2020. Complementing this growth was an 18.6% increase in the number of new ...

  Read More »
• 1 September

  UAE to launch dialogue on sustainable industrial development at US event

  

    Dubai / WAM The Global Manufacturing and Industrialisation Summit (GMIS), a joint initiative between the United Nations Industrial Development Organisation (Unido) and the UAE Ministry of Industry and Advanced Technology (MoIAT), will host its inaugural edition of the GMIS America in Pittsburgh, Pennsylvania from September 28-30. The step aims to build bridges between manufacturers, governments, multilateral organisations, technologists, the ...

  Read More »
• 1 September

  Emirates flew 10m passengers this summer

    Dubai / WAM Emirates, the world’s largest international airline, carried more than 10 million passengers on nearly 35,000 flights to 130 destinations this summer. The airline also ramped up operations to serve customer demand during this busy period, reinstating daily services to London Stansted, and increasing flights to 33 cities on popular routes across Europe, Asia, and the Middle ...

  Read More »
• 1 September

  Beeah’s new facility to produce alternative green fuel from waste

  

  Sharjah / WAM Beeah Recycling, a waste processing and material recovery business under Beeah group, has added a new Solid Recovered Fuel (SRF) facility to its state-of-the-art, integrated waste management complex in Al Sajaa, Sharjah. The SRF facility will transform commercial residue waste into a high-quality alternative green fuel in cement factories, where the fuel will be injected into the ...

  Read More »