May, 2019

• 27 May

  UAE Food Bank distributes over 120,000 iftar meals

  Dubai / WAM The UAE Food Bank has announced the distribution of more than 120,000 Iftar meals with the help of many sponsors and supporters. “Our leadership has always underscored importance of consolidating the values of giving and charity through various initiatives and activities. The UAE Food Bank is a true embodiment of these values in our society that acts ...

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• 27 May

  UAE minister discusses women empowerment with Arab League official

  Dubai / WAM Hessa Essa Buhumaid, Minister of Community Development, has met with Dr Haifa Abu Ghazaleh, Assistant Secretary-General and Head of Social Affairs Sector at Arab League, to discuss the reflections of conferences and discussions of the visions and rights of women regionally and internationally. During the meeting, held at the Ministry in the attendance of Executive Director of ...

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• 27 May

  Dubai Crown Prince meets Mohammed bin Salman in Jeddah

  

  Jeddah / WAM His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, met in Jeddah, with Prince Mohammed bin Salman bin Abdulaziz Al Saud, Saudi Crown Prince, Deputy Prime Minister and Minister of Defence. Sheikh Hamdan bin Mohammed and Prince Mohammed bin Salman exchanged Ramadan greetings and wished more progress and peace as well as ...

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• 27 May

  Enoc service station network in Saudi to grow by eight fold

  

  Riyadh / Emirates Business Enoc Group, a wholly-owned entity of the Government of Dubai, has announced ambitious expansion plans for its retail operations in the Kingdom of Saudi Arabia. The Group’s retail arm will increase its service station network by more than eight fold by 2030 to reach 124 stations to meet the growing fuel station demand in the GCC’s ...

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• 27 May

  Smart Vessel Berthing System launched in Dubai

  

  Dubai / WAM Dubai Customs has launched ‘Smart Vessel Berthing System’, a new disruptive berthing service for the vessels using the Dubai Creek (Khor Dubai). The vessels will load and unload their goods with the help of an advanced AI based service, built in-house by Dubai Customs employees to facilitate traffic of vessels through the historic waterway. The launch ceremony ...

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• 27 May

  Schlumberger suffers credit hit as oil clients stick to cuts

  

  Bloomberg Schlumberger Ltd had its debt rating lowered by S&P Global Inc as belt-tightening in the US shale patch translates into less drilling and fracking work for the world’s top oilfield services provider. The rating was cut a notch to A+, the fifth-highest invest grade, from AA-, S&P said. Its biggest rival, Halliburton Co., had its outlook revised to negative ...

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• 27 May

  China projects confidence in economy amid trade war

  

  Bloomberg China is strong enough to withstand the effects of the trade war with the US, according to statements over the weekend from current and former officials, putting forward a confident view of an economy which has been showing signs of weakness in the past few months. A top financial regulatory official and a vice information technology minister said the ...

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• 27 May

  Singapore startup Trax raising funds at $1.1 billion value

  

  Bloomberg Trax, a Singapore-based startup serving the retail industry, is finalising a deal to raise $100 million at a pre-money valuation of about $1.1 billion, a price tag that could make it the second most valuable startup in the city-state. The company is talking with a few private equity firms and the new funding round is expected to close by ...

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• 27 May

  Huawei supplier surges in Hong Kong after cancelling NYSE listing

  Bloomberg A major Chinese chipmaker surged in Hong Kong amid prospects that its decision to stop trading in New York will attract more volume to its main listing. Semiconductor Manufacturing International Corp was Monday’s top gainer on the MSCI China Index as well as its Asia-Pacific gauge with a 10 percent rally. It was a different story for its American ...

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• 27 May

  China Literature sinks amid nation’s content crackdown

  

  Bloomberg One of Tencent Holdings Ltd.’s most valuable investments is sinking as China expands its crackdown on online content. China Literature Ltd, in which Tencent holds a controlling stake, tumbled as much as 10 percent before closing down 7.3 percent at a new low in Hong Kong, as another of its online sites was targeted for alleged violations. The stock ...

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