January, 2024

• 16 January

  CBUAE issues monetary and banking developments

  

  ABU DHABI / WAM The Central Bank announced that the Money supply aggregate M1 decreased by 0.2%, from AED799.3 billion at the end of October 2023 to AED797.4 billion at the end of November 2023. This was due to AED4.9 billion fall in Monetary Deposits. Currency in Circulation Outside Banks increased by AED3.0 billion during November 2023. The Money Supply ...

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• 16 January

  Artificial Intelligence is driving force and engine for future, Al Olama tells session at 54th World Economic Forum

  

  DAVOS/ WAM Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, emphasised that the rapid growth observed in the global generative artificial intelligence market reflects that AI is the driving force and the engine for the future. He pointed out that the leadership of the UAE has recognised for more than two ...

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• 16 January

  Dewa extends over 364 km of fibre optic ducts in 2023

  

  DUBAI / WAM The Dubai Electricity and Water Authority (Dewa) extended over 364 kilometres of fibre optic (FO) ducts across different areas in Dubai in 2023. This expansion has increased the total length of these cable ducts to 3,998 kilometres, a 10% increase compared to 2022. This initiative aligns with Dewa’s commitment to developing a world-class digital infrastructure that leverages ...

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• 16 January

  UAE chairs 52nd meeting of Arab ICT Permanent Committee in Abu Dhabi

  

  ABU DHABI/ WAM The UAE capital, Abu Dhabi, hosted the 52nd session of the Arab ICT Permanent Committee on 15th January 2024, for two days. The meeting was led by the UAE, represented by Mohammed Al Ramsi, TDRA Deputy Director General for the Telecommunications Sector. Delegations from various Arab countries, Technical Secretariat of the Arab Telecommunications and Information Council of ...

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• 16 January

  UAE President issues Federal Decree appointing Chairman of National Media Office

  ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has issued a Federal Decree to appoint Sheikh Abdulla bin Mohammed Al Hamed as Chairman of the National Media Office with the rank of minister. The Decree shall be published in the official gazette and shall be effective from the date of issuance.

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• 16 January

  Business leaders remain optimistic about trade movement in 2024: Economist Impact and DP World Study

  

  DAVOS/ WAM Despite the challenges of 2023 and escalating geopolitical tensions, business leaders remain surprisingly optimistic for 2024, according to new research from Economist Impact and DP World, unveiled today at the World Economic Forum. The primary driver is a growing belief that technology will transform the efficiency and resilience of supply chains. Amid escalating concerns about protectionism, global fragmentation ...

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• 16 January

  European equities, US futures drop as dollar extends gains

  

  BLOOMBERG European stocks and US futures retreated, while the dollar rose to a one-month high and bonds fell as the market digested the latest comments from central bank officials pushing back against bets on aggressive interest rate cuts. The Stoxx Europe 600 index headed for a five-week low, with retailers and banks leading the decline. Futures on the S&P 500 ...

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• 16 January

  Shell to sell Nigeria onshore oil business for $1.3bn

  

  BLOOMBERG Shell Plc agreed to sell its Nigerian onshore oil business to a consortium of local companies for more than $1.3 billion. If approved by the government, the transaction would fulfill Shell’s long-term goal of extracting itself from a challenging operating environment in the Niger Delta region, while retaining a presence elsewhere in the country. Beyond the initial price tag, ...

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• 16 January

  Europe is getting even greener wind turbines made with old steel

  

  BLOOMBERG A new Baltic Sea wind farm that will power more than 1.5 million Polish homes is getting turbines made with greener steel that will cut their carbon footprint. Denmark’s Vestas Wind Systems A/S, the world’s largest turbine maker, is partnering with ArcelorMittal SA to use recycled steel to build towers that blades spin on. They’ll be first installed in ...

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• 16 January

  Under the directives of Mohammed bin Rashid, Hamdan bin Mohammed launches ‘Dubai Integrated Housing Center’ to provide 54 residential services under one roof

  

  DUBAI / WAM Under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of The Executive Council of Dubai, and Chairman of Dubai’s Higher Committee for Development and Citizens Affairs, launched the ...

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