October, 2023

• 20 October

  Indonesia set to extend interest rate pause as risks build up for rupiah

  

  BLOOMBERG Indonesia’s central bank will probably leave its benchmark interest rate unchanged, as policymakers look set to act to support the rupiah only when volatility from global uncertainties become excessive. Thirty of the 31 economists surveyed by Bloomberg expect Bank Indonesia to keep its seven-day reverse repurchase rate at 5.75% for a ninth straight meeting. That is in line with ...

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• 20 October

  Stocks tumble as 10-year Treasury yields near 5%

  

  BLOOMBERG Rising Treasury yields and weak earnings news sapped appetite for stocks as traders tracked an intensifying diplomatic push to contain the war. Yields on 10-year US government bonds gained for a fourth day, closer to reaching 5% for the first time since 2007. The relentless advance in yields reflects expectations that the Federal Reserve will keep interest rates at ...

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• 20 October

  London wins back its Europe’s stock market crown from Paris

  

  BLOOMBERG London has recaptured its crown as Europe’s largest stock market from Paris, lifted by surging crude oil prices. The combined market capitalisation of primary listings in London — excluding ETFs and ADRs — is now $2,888.4 billion versus Paris’s $2,887.5 billion, according to an index compiled by Bloomberg. London had lost its status as Europe’s biggest stock market last ...

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• 20 October

  UAE President holds phone call with Norwegian Prime Minister on humanitarian conditions, protection of civilians in Gaza

  

  ABU DHABI/WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan received a phone call on Thursday from Jonas Gahr Støre, Prime Minister of Norway. They discussed the humanitarian crisis faced by civilians in the Gaza Strip, emphasising the priority of ensuring their full protection in line with international humanitarian law. They also underscored the importance of enhancing diplomatic initiatives to ...

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• 19 October

  Cybersecurity in the spotlight at GITEX GLOBAL

  

  DUBAI/WAM The world’s leading cybersecurity experts have convened at GITEX GLOBAL 2023 to address the urgent challenges of cybercrime, projected to cause $10.5 trillion in annual damages by 2025. Ransomware, crypto crime and risks associated with Generative AI are some of the key threats that CISOs and security professionals need to tackle in the digital era. Dr. Mohamed Al-Kuwaiti, Head ...

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• 19 October

  OMODA, JAECOO launch with grandeur at Geneva International Auto Show in Doha

  

  GULF TIME The brand launch event for OMODA and JAECOO was splendidly held at the Doha, Qatar Geneva Auto Show in the first week of this month, garnering widespread attention from the global media. At the event, OMODA showcased its star models, OMODA C5 and OMODA E5, heralding a new age of future driving experiences and green technology. JAECOO, making ...

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• 19 October

  DCD, Accenture partner to revolutionise Abu Dhabi’s social sector

  

  DUBAI / WAM The Department of Community Development (DCD) has signed a memorandum of understanding with Accenture to enhance the well-being of its citizens and residents. The MoU, signed at GITEX Global 2023, marks the beginning of a collaborative effort in which Accenture will leverage its cutting-edge AI solutions and global expertise in social development to introduce an all-encompassing service ...

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• 19 October

  ADMO Lifestyle signs pact to acquire CE LA VI group

  

  ABU DHABI / WAM ADMO, the joint venture between Alpha Dhabi Holding and Monterock International Limited, on Wednesday announced that it has signed a definitive agreement to acquire rapidly growing luxury lifestyle group, CE LA VI. This strategic move signifies ADMO’s accelerated efforts in building a diverse portfolio of luxury, lifestyle, F&B, and entertainment brands, significantly expanding its global lifestyle ...

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• 19 October

  UAE residents can access over 100 of MoCCAE’s services within 4 minutes

  

  DUBAI / WAM The Ministry of Climate Change and Environment (MoCCAE) has announced upgrading the digital services for 103 of its services to bring the average delivery time down to 4 minutes. This is part of the ministry’s commitment to increasing flexibility and enhancing customer experience and satisfaction. It was announced by the ministry during the GITEX Global 2023 event, ...

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• 19 October

  FNC, Inter-Parliamentary Union sign agreement

  

  ABU DHABI / WAM Saqr Ghobash, Speaker of the Federal National Council (FNC), on Wednesday received Inter-Parliamentary Union (IPU) President, Duarte Pacheco, and Secretary-General, Martin Chungong, at the FNC headquarters. At the start of the meeting, the FNC Speaker welcomed Pacheco to the UAE, as this is his first visit to the country, pointing to the distinguished relations between the ...

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