December, 2023

• 11 December

  Global stocks make cautious start to event-packed week

  

  BLOOMBERG Global equities posted modest moves at the start of a busy week of economic data and central bank meetings that will test optimism among investors that interest rates will soon head lower. The yen extended its losses to 1% after Bloomberg News reported that Bank of Japan officials see little need to rush into scrapping the world’s last negative ...

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• 11 December

  Mohammed bin Rashid issues law forming Dubai Investment Fund to oversee government investments

  

  DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has issued Law No (25) of 2023 establishing the Dubai Investment Fund as an independent public entity operating on a commercial basis. The Law also endows the Fund with the financial and administrative independence to pursue its ...

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• 11 December

  Peso set to ride remittance wave on Philippine holiday spending

  

  BLOOMBERG The Philippine peso has outperformed its Asian peers this year and a seasonal pick-up in overseas remittances ahead of Christmas will likely extend the gains. Remittances are a key pillar of the nation’s economy, which typically receives the highest cash transfers in the last month of the year as workers send money home for holiday spending. The inflows have ...

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• 10 December

  Dubai thrives as a biodiversity hotspot despite the desert environment

  

  DUBAI/WAM Dubai’s development vision is defined as much by its quest for futuristic technologies as it is by its focus on preserving its rich heritage and natural ecosystems. The importance accorded to wildlife habitats and endangered species is a prime example of Dubai’s commitment to environmental responsibility and sustainable practices. Protected areas for wildlife conservation in Dubai have flourished amid ...

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• 10 December

  National Library and Archives launches Encyclopedia of UAE History

  

  ABU DHABI/ WAM Amidst the UAE’s celebrations of the 52nd Union Day, the National Library and Archives launched the first Encyclopedia of UAE History, within the framework of its great national mission and role of collecting and preserving the memory of the nation. The Encyclopedia of UAE History project was launched in a grand ceremony attended by prominent cultural and ...

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• 10 December

  World Civilisations Parade roams grounds of Sheikh Zayed Festival with traditional songs and folk arts

  

  ABU DHABI/WAM The Sheikh Zayed Festival, currently being held at the Al Wathba area in Abu Dhabi, continues to attract residents and tourists from all over the world with various cultural events, activities, and distinctive performances. One of the most popular attractions is the World Civilisations Parade where entertainers from around the world roam around the Festival grounds weekly. The ...

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• 10 December

  Majra, HyveGeo sign MoU to provide seed funding for climate and food security solutions in UAE

  

  DUBAI/WAM The Corporate Social Responsibility (CSR) UAE Fund, Majra, signed a Memorandum of Understanding (MoU) on the sidelines of COP28 with HyveGeo agriculture company with the aim of regenerating desert sand into arable soil for home-sustainable food and cleaner air. HyveGeo specialises in sequestering carbon dioxide using microalgae (1.8 tonnes of carbon for one tonne of microalgae), as well as ...

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• 10 December

  UAEU organises seminar on water security under conditions of climate change in UAE at COP28

  

  DUBAI/ WAM The UAE University (UAEU) hosted a seminar titled “Water Security under Climate Change Conditions in the UAE: Challenges and Opportunities” in cooperation with Trends Research Advisory at COP28 in Expo Dubai. Dr. Muhammad Al-Ali, CEO of Trends Research Advisory, lauded the productive partnership between the two institutions, highlighting their commitment to scientific research collaborations. He emphasised the importance ...

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• 10 December

  MoEI, EAD launch hydrogeological map of UAE

  

  DUBAI/ WAM The Ministry of Energy and Infrastructure (MoEI) and the Environment Agency – Abu Dhabi (EAD) announced the launch of the first hydrogeological map and geo-database of the UAE, a milestone achievement in documenting and managing water sources with the goal of sustaining and conserving water. The hydrogeological maps generated include all hydrogeological data, such as groundwater well locations, ...

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• 10 December

  Societe Generale to revive sale of UK private bank unit

  

  BLOOMBERG Societe Generale SA is reviving a potential sale of its private UK bank Kleinwort Hambros, according to people familiar with the matter, a move that would allow the French lender to free up capital. The French bank is working with advisers to explore interest in the unit, said the people, who asked not to be identified discussing private matters. ...

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