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Bloomberg Goldman Sachs Group analysts downgraded Coinbase Global to a sell rating as the crypto winter continues to take its toll on the struggling digital currency exchange. Shares of the firm slumped 11% to $55.96, extending their decline this year to 78% as Bitcoin trades at less than half its value from six months ago. Goldman analyst William Nance cited ...
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June, 2022
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28 June
Pandemic cost culture up to 40% in lost revenue: Unesco
ABU DHABI / WAM The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) and the Unesco on Monday launched the co-publication “Culture in Times of Covid-19: Resilience, Recovery and Revival”, giving a global overview of the impact of the pandemic on the culture sector since March 2020, and outlining directions for its revival. Examining the impact of ...
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28 June
UAE’s ‘national initiative’ to produce 80 tonnes of wheat
Abu Dhabi / WAM “Emirates Wheat”, which was launched in 2017, is one of the leading initiatives in the agriculture sector and involves 170 farms, representing most of the national efforts to achieve food security by producing over 80 tonnes of wheat. The national initiative, headed by farmer Humaid Obaid Al Zaabi, aims to boost country’s wheat production, especially ...
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28 June
W Solar to invest in Libya renewable energy project
Abu Dhabi / WAM “W Solar” Investment, an investment company in the renewables energy industry and a subsidiary of Alpha Dhabi Holding, on Monday signed a memorandum of understanding with the General Electricity Company of Libya (GECOL) to develop a strategic long-term partnership in the renewable energy sector in Libya. Under this MoU, “W Solar” will invest in green ...
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28 June
UAE has made quantum leap in industrial development: Al Jaber
Abu Dhabi / WAM Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and Chairman of Emirates Development Bank (EDB), said that the UAE had made quantum leap in its industrial development thanks to the support, directives and vision of its wise leadership. The country has managed to enhance its strategic industrial position, as it moves ...
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27 June
Chimera Capital launches US Sharia compliant ETFs
Abu Dhabi / WAM Chimera Capital, an Abu-Dhabi-based investment management firm and subsidiary of Chimera Investment, on Monday announced the launch of the Chimera S&P US Shariah Value Exchange Traded Fund and the Chimera S&P US Shariah Growth Exchange Traded Fund, both of which are physical, in-kind, liquid and fully fungible exchange-traded funds (ETFs). Both funds will be listed ...
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27 June
Dewa launches automated grid recovery system
Dubai / WAM Dubai Electricity and Water Authority (Dewa) has announced the launch of an Automatic Smart Grid Restoration System (ASGR), the first of its kind in the Mena region, to increase the control, management, and monitoring of its power network. The system works around the clock without any human intervention. It uses a smart, innovative, and central system ...
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27 June
Adnoc inks deal with Nafis to create 3000 jobs for Emiratis
Abu Dhabi / WAM Abu Dhabi National Oil Company (Adnoc) on Monday announced that it has signed a strategic collaboration agreement with the Emirati Talent Competitiveness Council (Nafis), to accelerate the recruitment of talent in the private sector and create 3,000 additional jobs for UAE nationals in its supply chain by 2025. Through this agreement, Adnoc will step up ...
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27 June
Abu Dhabi conference to focus on ‘challenges to food system’
Abu Dhabi / Gulf Time AD Ports group, the leading facilitator of global trade, logistics, and industry in Abu Dhabi, announced on Monday that it will host the 2022 edition of the World Union of Wholesale Markets Conference (WUWM), a major event for the fresh food industry that will bring together high level – public and private sector – ...
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27 June
Bodour Al Qasimi urges Bosnian publishers to seize opportunities
Sarajevo / WAM Sheikha Bodour Al Qasimi, President of the International Publishers Association (IPA), has travelled to Sarajevo to meet with stakeholders from the publishing community of Bosnia and Herzegovina as they continue their recovery and response to the challenges presented by the global pandemic, and by increasing global instability. Underscoring the IPA’s mission to support and promote publishing for ...
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