December, 2023

• 20 December

  Ruler of Umm Al Qaiwain receives Minister of Economy; briefed on current, future investment projects in UAE

  

  UMM AL QAIWAIN/ WAM H.H. Sheikh Saud bin Rashid Al Mu’alla, Supreme Council Member and Ruler of Umm Al Qaiwain, was briefed today on current and future economic and investment projects in the UAE, with discussions aimed at fostering growth both locally and internationally. This came as H.H. Sheikh Saud received today at his office in the Amiri Diwan, Abdullah ...

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• 20 December

  ADGM launches online dispute resolution platform

  

  ABU DHABI / WAM The Abu Dhabi Global Market (ADGM) Arbitration Centre announced the launch of “ODR@ADGM”, an online dispute resolution platform that hosts a fully digitalised settlement and mediation service. Using this advanced service, parties from anywhere in the world will be able to resolve their disputes through self-guided negotiations or, ultimately, mediation facilitated by internationally accredited mediators. ODR@ADGM ...

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• 20 December

  UAE’s central bank issues UAE Islamic Finance Report 2023

  

  ABU DHABI / WAM The Central Bank of the UAE (CBUAE) has issued the UAE Islamic Finance Report 2023 which highlights the sustainable Islamic finance efforts of Islamic financial institutions (IFIs) across the UAE. The report comes in line with the UAE’s Year of Sustainability and its recent hosting of COP28. The report analyses the performance of various Islamic finance ...

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• 20 December

  Dragon Oil discusses 2024 plans, prospect of expansion

  

  DUBAI / WAM Dragon Oil Company, affiliated with the Government of Dubai, held its annual brainstorming session at the Bab Al Shams Hotel in Dubai, attended by the Company’s Senior officials and Top Directors, led by CEO Ali Rashid Al Jarwan. The session’s discussions centred on reviewing the company’s strategic objectives during the current and next year, while discussing future ...

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• 20 December

  UAE leaders congratulate Emir of Kuwait on assuming power

  

  ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to His Highness Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, Emir of the State of Kuwait, on the occasion of assuming power in the State of Kuwait. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the ...

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• 20 December

  Revival of winter travel turns jet fuel into oil’s bright spot

  

  BLOOMBERG Soaring demand for travel this winter is boosting refiners’ margins for making jet fuel in Asia, providing a bright spot for the oil market even as the outlook for other transport fuels weakens. The post-pandemic recovery of air travel is gaining pace in China and India, while the US is expecting to see record travel demand during the holiday ...

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• 20 December

  Tennessee-based FedEx profit falls below expectations on drop in air, truck cargo

  

  BLOOMBERG FedEx Corp reported profit below analyst expectations as cost cuts weren’t enough to make up for volume declines at the air-freight unit amid a lingering cargo recession. The company lowered its sales forecast for the fiscal year ending on May 31. Adjusted earnings were $3.99 a share, the Memphis, Tennessee-based company said in a statement. Analysts had expected $4.19. ...

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• 20 December

  Humaid Al Nuaimi issues Emiri Decree transitioning Ajman University to non-profit institution

  

  AJMAN/ WAM H.H. Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman, has issued Emiri Decree No.14 of 2023, transitioning Ajman University from a for-profit entity to a non-profit institution. This Decree aims at enhancing the University’s academic and research mission, ensuring its financial independence, and providing educational opportunities to students worldwide. According to the Decree, ...

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• 20 December

  UAE sends plane carrying 1,640 household power generators to Ukraine

  

  ABU DHABI/ WAM The United Arab Emirates has dispatched an aid plane carrying 100 tons of power generators to assist civilians affected by the ongoing crisis in Ukraine, aiming to help them cope with harsh winter conditions. The aid includes 1,640 household power generators, each with a capacity ranging from 3.5 kW to 8 kW, designed to provide electricity to ...

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• 20 December

  UAE-built desalination plants in Egyptian Rafah pump water to Palestinians in Gaza

  

  RAFAH/ WAM The United Arab Emirates’ “Gallant Knight 3” humanitarian operation has successfully completed the pumping of desalinated water to Palestinians in Rafah, within the Gaza Strip. The water is being pumped from UAE-built desalination plants in Egyptian Rafah through a newly installed 900-metre pipeline. The Palestinian Water Authority in Rafah then takes over the water distribution within the Gaza ...

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