August, 2023

• 9 August

  COP28 President-Designate stands with Brazil’s President in call for protecting and investing in nature to deliver ambitious, just and equitable climate progress

  

  BELÉM/WAM Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and COP28 President-Designate, gave remarks at the Amazon Summit and Collaboration for Sustainable Development, urging leaders to build on President Lula da Silva’s commitment and inspire transformational progress on nature at COP28. Gathering in the Brazilian city of Belém, Dr. Al Jaber met with leaders from the ...

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• 9 August

  Emirates cabin crew numbers cross 20,000 and counting

  

  DUBAI / WAM Emirates’ cabin crew team crossed a milestone and are now 20,000-strong, as the airline continues to recruit cabin crew globally to meet its planned growth trajectory. Since 2022, the airline has hosted recruitment events in 340 cities across 6 continents — truly reflecting the diversity of its cabin crew team and the destinations it serves. The instantly ...

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• 9 August

  UAE central bank revokes Dirham Exchange licence and registration of RMB Commercial Brokers

  

  ABU DHABI / WAM The Central Bank of the UAE (CBUAE) has revoked the licence of Dirham Exchange, an exchange house operating in the UAE, and struck off its name from the Register, and revoked the registration of RMB Commercial Brokers Co, a Hawaladar operating in the country. The administrative sanctions followed an appeals procedure,  pursuant to Article 137 of ...

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• 9 August

  Mubadala Energy report signals focus on decarbonisation plans

  

  ABU DHABI / WAM Mubadala Energy, the Abu Dhabi-based international energy company, has today released its latest Sustainability Report. In a pivotal year for the company in which it launched a new strategy focused on expanding its business in low-carbon solutions supporting the energy transition, and unveiled a new name and brand, the company recorded substantial progress on key ESG ...

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• 9 August

  UAE leaders congratulate President of Singapore on National Day

  

  ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a congratulatory message to President Halimah Yacob of Singapore, on the occasion of her country’s National Day, which is observed on August 9. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His ...

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• 9 August

  Amazon in talks to become anchor investor in Arm IPO

  

  BLOOMBERG Amazon.com Inc is in talks to join other tech companies as an anchor investor in Arm Ltd’s initial public offering, according to a person familiar with the situation, part of preparations for a deal that could raise as much as $10 billion. Amazon is one of several tech companies that have talked to Arm about backing the offering, which ...

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• 9 August

  Alibaba, Tencent’s $66b party starts to fade

  

  BLOOMBERG China’s largest tech companies Alibaba Group Holding Ltd and Tencent Holdings Ltd have gained $66 billion in market value since May’s end, propelled by expectations of a gradual return to pre-crackdown growth and a litany of official promises to unshackle the private sector. Yet some investors warn the celebration may be premature. For the first time since 2021, China’s ...

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• 9 August

  Bitcoin flashes signals of spike in volatility following historic lull

  

  BLOOMBERG Bitcoin may be closer to bursting out of a period of unusually low volatility if chart patterns and the token’s history are any guide. Some gauges of how much the largest digital asset swings around dropped toward a record low in the past month as Bitcoin hovered around $30,000. The lull coincided with a cooling in the token’s 2023 ...

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• 9 August

  European stocks jump as banks rebound after Italy-fuelled rout

  

  BLOOMBERG European stocks rallied, led by a bounce in Italian banks, as investors weighed Rome’s backtracking on part of its windfall tax on lenders. The FTSE MIB Index was up 1.9% after dropping the most in over a month on Tuesday, as Italy said the impact of the tax may be limited for some banks and that the levy won’t ...

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• 8 August

  Dubai’s GDP grows 2.8% in Q1 to reach AED111.3bn

  

  DUBAI / WAM Dubai’s Real Gross Domestic Product (GDP) grew 2.8 percent year-on-year in the first quarter of the year to reach AED111.3 billion surpassing average global growth rates for Q1 2023. The surge maintains the robust momentum of growth achieved in 2022, when the emirate experienced a 4.4 percent expansion of the economy. HH Sheikh Hamdan bin Mohammed bin ...

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