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Tech stocks have surged to start 2020, lifting the entire market to record highs. But one place you won’t find much enthusiasm for the rally is on Twitter. There, you’re more likely to read accounts spreading fake news about the coronavirus outbreak or mocking the valuation of Tesla Inc.’s meteoric stock. I have a theory about this: Many of Twitter’s ...
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February, 2020
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18 February
Etisalat posts AED8.7b profit
Abu Dhabi / WAM Etisalat Group announced Tuesday its consolidated financial statements for the 12 months ending December 31 2019, reporting consolidated net profit of AED8.7 billion. According to a company press statement, the aggregate subscriber base reached 149 million, representing a year-on-year (YOY) increase of 6%. Twelve months’ consolidated revenues reached to AED52.2 billion, while consolidated net profit after ...
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18 February
Reliance, Aramco accelerate talks on refinery stake sale
Bloomberg Reliance Industries Ltd.’s talks to sell a minority stake in its oil-to-chemical division to Saudi Aramco have been gathering pace in recent weeks, according to reports. Aramco officials and bankers on the deal have been working at Reliance’s offices in Mumbai for due diligence this month, according to the people, who asked not to be identified as the information ...
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18 February
Adnoc awards AED6.06bn deals for Dalma gas project
ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc), announced on Tuesday it has awarded two contracts for the construction of offshore facilities for the Dalma Gas Development Project located about 190 kilometres northwest of Abu Dhabi city. The Dalma project is a key part of the Ghasha ultra-sour gas concession which is central to Adnoc’s strategic objective ...
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18 February
Oil snaps five-day rally as virus weighs on demand
Bloomberg Oil fell, snapping a five-day rally, amid renewed fears over the impact on the global economy and fuel demand from Asia’s deadly coronavirus. Brent futures fell 2.3% to trade near $56 a barrel in London, slipping with equity markets as Apple Inc. warned it will fail to meet sales targets this quarter because of disruption from the virus. Chinese ...
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18 February
Mohammed attends installation of final component of Hope Probe
DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said the Hope Probe is a testament to the capabilities of the youth of the UAE. “The project, which represents a historic achievement for the nation, also sends a message of hope to youth in the Arab ...
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18 February
Sharjah-Korea Business Roundtable explores trade synergies
Sharjah / WAM The Sharjah FDI Office (Invest in Sharjah), operating under the Sharjah Investment and Development Authority, Shurooq, in collaboration with the Korea International Trade Association (KITA), organised a Sharjah-Korea Business Roundtable at the Sharjah Chamber of Commerce and Industry (SCCI), to explore greater economic ties and synergies between Sharjah and Korea. The meeting also introduced emerging prospects and ...
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18 February
Special Al Ain-Jeddah flights during Ramadan: Etihad
ABU DHABI / WAM Etihad Airways, the national airline of the UAE, will operate a daily scheduled flight between the Emirate of Abu Dhabi’s second largest city, Al Ain, and Jeddah in Saudi Arabia during the last ten days of Ramadan. The airline announced in a statement that it will operate the flights from May 14-23. This flight route was ...
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18 February
Abu Dhabi to host largest editions of Umex, SimTEX
ABU DHABI / WAM The Abu Dhabi National Exhibitions Company (Adnec), announced that final preparations for the 4th edition of Unmanned Systems Exhibition (Umex 2020), and Simulation and Training Exhibition (SimTEX 2020), have been completed. Held under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE ...
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18 February
Belgian diamond boiling facility opens in Dubai
DUBAI / WAM DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – participated in the official opening of TRIGEM’s Charlotte Boiling facility. TRIGEM is a diamond services provider based in DMCC. The new facility is located in the heart of Dubai’s diamond hub, the Jewellery and Gemplex Building at Jumeirah Lakes ...
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