November, 2021

• 2 November

  Sinking steel demand shows cracks in robust US market

  

  Bloomberg The record steel rally is starting to show early signs of cooling, with one top US producer scouring for buyers to take over abandoned orders of high-end metal used by automakers. US Steel Corp is offering metal originally earmarked for automotive customers who opted not to take up their full orders, an indication that an ongoing semiconductor shortage is ...

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• 2 November

  Equity bulls pause as Fed, economy risks dominate

  

  Bloomberg European stocks fall and US index futures were mixed as an earnings-driven rally stalled amid a deepening supply crunch and coronavirus curbs in China. The Treasury yield curve steepened before the Federal Reserve’s policy meeting. December contracts on the Dow Jones Industrial Average slipped after the underlying gauge surged past the 36,000 mark. Russell 2000 contracts rose. The yield ...

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• 2 November

  ETP fund flows hit $1trn record as global assets rally

  

  Bloomberg In a year already packed with superlatives, the fund industry has a new milestone to celebrate. Inflows into exchange-traded products (ETFs) across the world have just surpassed $1 trillion in 2021, according to data compiled by Bloomberg. The $3.9 billion added by investors in the latest data carried the sum past the magic mark. Even with two months left ...

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• 2 November

  UAE receives global praise for efforts to combat pandemic

  

  ABU DHABI / WAM Roberto Speranza, Italian Minister of Health, and current president of the G20 Ministers of Health, has praised the UAE for its exemplary efforts in combating the coronavirus pandemic and speed in implementing one of the most effective Covid-19 responses globally, evident with one of the lowest mortality and infection rate around the world. The approach ensured ...

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• 2 November

  Empower buys DXB’s district cooling units in AED1.1b deal

  

  DUBAI / WAM In the presence of HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation Authority, Chairman of Dubai Airports, and the Chairman of the Dubai Supreme Council of Energy, the Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, signed an agreement to acquire the district cooling systems of Dubai International ...

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• 2 November

  UAE delivers ambulances, food supplies to Ethiopia

  

  ADDIS ABABA / WAM The UAE, represented by the Emirates Red Crescent (ERC), on Monday delivered a number of ambulances to support the health sector in Ethiopia and its logistical capabilities. The aid, which included large quantities of food and medical supplies, is part of the ERC’s continuous efforts to improve the humanitarian situation around the world. Fahd Abdul Rahman ...

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• 2 November

  UAE to contribute $3m in support of GGGI projects

  DUBAI / WAM Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment, announced that the UAE will contribute $3 million to the projects carried out by the Global Green Growth Institute (GGGI) in 2022 and 2023. The Minister made the announcement at the 10th Session of the Assembly and 14th Session of the Council of GGGI. Ban-Ki Moon, ...

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• 2 November

  Australia-based Lepidico to set up AED348m lithium plant in Kizad

  

  ABU DHABI / WAM Khalifa Industrial Zone Abu Dhabi (Kizad), a subsidiary of AD Ports Group’s Industrial Cities & Free Zone (IC&FZ) cluster, on Monday announced the signing of an agreement with Australia’s Lepidico Ltd, a global lithium exploration and development company, for establishing the first lithium production facility in the Middle East, utilising a first of its kind designed ...

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• 2 November

  UAE envoy, Nigerian minister discuss boosting bilateral ties

  

  ABUJA / WAM Dr Fahad Obaid Al Taffaq, Ambassador of the UAE to the Federal Republic of Nigeria, met with Geoffrey Jideofor Kwusike Onyeama, Nigeria’s Minister of Foreign Affairs, at the headquarters of the Nigerian Ministry of Foreign Affairs in the capital, Abuja. Dr Al Tafaq conveyed the greetings and best wishes of HH Sheikh Abdullah bin Zayed Al Nahyan, ...

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• 2 November

  Emirates to restart services to Algiers

  DUBAI / WAM Emirates has announced that it will reintroduce flights to Algiers, Algeria, from 9th November. Flights from Dubai to Algiers will operate twice a week. The resumption of flights to Algiers boosts Emirates’ African network to 21 destinations, and represents a full restoration of the airline’s operations into North Africa. With the easing of travel restrictions, and the ...

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