August, 2022

• 27 August

  TD reaps benefit of climbing rates with more gains to come

  

    Bloomberg Toronto-Dominion Bank (TD), which has struck two major deals to expand in the US this year, reaped the benefit of higher interest rates and sees more gains to come as central banks continue their fight against inflation. Net interest income rises 17% to C$7.04 billion ($5.45 billion) in the fiscal third quarter, the Toronto-based company said in a ...

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• 27 August

  Biggest EM Asia stock inflow since 2020 faces Jackson Hole test

  

    Bloomberg Global funds haven’t been this optimistic about emerging Asia ex-China stocks in almost two years. Whether this lasts will depend on the US policy signals. Overseas investors poured a net $7.5 billion into nine regional markets so far in August, the biggest monthly inflow since end-2020, according to exchange data compiled by Bloomberg. India accounted for the lion’s ...

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• 27 August

  China tech stocks gain as talks progress to avoid US delistings

  

    Bloomberg Chinese technology shares rose for a second day after talks between Beijing and Washington to avoid the delisting of companies in New York was said to show signs of progress. Hong Kong’s Hang Seng Tech Index climbed as much as 2.1% on Friday before paring gains to close 0.8% higher as it capped its biggest weekly gain in ...

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• 26 August

  Dubai records AED21 billion in real estate transactions in July

  

    Dubai / Gulf Time Dubai’s real estate market recorded a total of 7,092 sales transactions worth AED 21 billion in July, according to Mo’asher, the emirate’s official Sales Price and Rental Performance index launched by Dubai Land Department (DLD). The data marks the highest performance in the last decade and demonstrates a significant increase in the overall performance of ...

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• 26 August

  Etihad pilot becomes UAE’s first female Emirati captain

    Abu Dhabi / WAM Etihad Airways, the national airline of the UAE, this week celebrated Captain Aisha Al Mansoori who has become the UAE’s first female Emirati Captain in a commercial airline. This is a significant milestone for aviation within the UAE and part of Etihad’s efforts to expand the roles of women in aviation, in particular the pilot ...

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• 26 August

  Taqa, Injazat join hands to drive digital shift in UAE

  

    Abu Dhabi / Gulf Time Injazat, the UAE’s home-grown technology champion in digital transformation, cloud, and cyber security, on Thursday announced winning a digital transformation project for Taqa group, the recognized low carbon power and water champion from Abu Dhabi that is a top-10 integrated utilities company in the EMEA region. The contract was formalised during a signing ceremony ...

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• 26 August

  Emaar inks deal to sell fashion portal Namshi to Noon for AED1.23 billion

  

    Dubai / Gulf Time Emaar Malls Management LLC (Emaar Malls), a wholly-owned subsidiary of Emaar Properties PJSC (Emaar) and Noon AD Holdings Ltd (noon) announced on Thursday that they have entered into definitive documentation for Emaar Malls to sell the entire share capital of Namshi Holding Limited (Namshi) to noon for a total cash consideration of AED1.23 billion ($335.2 ...

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• 26 August

  FTA resumes its tax clinic initiative

    Abu Dhabi / WAM The Tax Clinic initiative, organised by the Federal Tax Authority (FTA) to establish and maintain direct communication with business sectors, has resumed its field activities across the emirates with sessions in Ras Al Khaimah and Sharjah. In a statement issued on Thursday, the FTA revealed that two new rounds of sessions were held in August ...

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• 26 August

  Sheikh Mohamed, President of Greece discuss ways to boost ties

  

  ATHENS / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan held a meeting on Thursday in Athens with Katerina Sakellaropoulou, President of the friendly Republic of Greece. At the beginning of the meeting, that took place at the presidential palace, President Katerina Sakellaropoulou welcomed HH Sheikh Mohamed bin Zayed Al Nahyan, and congratulated him on becoming the ...

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• 26 August

  Abu Dhabi to launch virtual assets strategy

  

  Abu Dhabi / WAM The Abu Dhabi Blockchain and Virtual Assets Committee held its first meeting, under the chairmanship of Mohamed Ali Al Shorafa, Chairman of the Abu Dhabi Department of Economic Development (Added) and Chairman Securities and Commodities Authority (SCA), to discuss strategy for blockchain and virtual assets, which is aligned with the Emirates economic strategy. The committee emphasised ...

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