August, 2023

• 7 August

  Danube Properties launches AED800 million Elitz 3 project in Jumeirah Village Circle

  

  DUBAI/GULFTIME News Highlights: Danube Properties sold out Elitz-2 within a month of its launch; guarantees 6% return on investment Danube Properties has so far launched 24 projects involving 11,529 units crossing AED10 billion so far; Danube Properties has delivered 4,555 so far units with a combined sales value of AED3.63 billion; The launch of the Elitz 3 projects comes after ...

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• 6 August

  Environment Agency–Abu Dhabi, EN-WWF launch 2nd ‘Ambassadors for Nature’ programme

  

  ABU DHABI / WAM The Environment Agency — Abu Dhabi (EAD) and Emirates Nature-WWF are expanding on the success of their youth empowerment movement with the launch of the second edition of the Ambassadors for Nature Programme. This youth-focused programme starts its second cohort at the most opportune time, as the UAE prepares to host the crucial COP28 climate conference ...

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• 6 August

  Australia may extend app ban to WeChat, says Senate report

  

  BLOOMBERG Australia should consider extending a ban on TikTok from government devises to include WeChat, a panel of lawmakers said, in the latest move from Canberra to crack down on potential influence linked to Beijing. A Senate committee urged sweeping changes to Australia’s treatment of major tech firms in its final report. Among proposals are stricter transparency requirements on ownership ...

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• 6 August

  Apple, Amazon results pose tech rally’s toughest hurdle yet

  

  BLOOMBERG Results from Apple Inc and Amazon.com Inc after the recent close represent the next big hurdle for the market’s tech-fueled rally, and it may be the hardest to clear. Both stocks have been critical to the S&P 500’s advance this year, attracting investors with their relatively durable revenue streams and market dominance. But whether they can fuel further gains ...

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• 6 August

  India mulls allowing private firms to develop nuclear plants

  

  BLOOMBERG India’s state-controlled nuclear power industry is considering allowing greater participation of private firms, with an aim to developing small modular reactors to help decarbonise industry. The country is reviewing its six-decade-old atomic energy law to allow more involvement from non-state companies,federal atomic energy minister Jitendra Singh said in a written reply to questions in parliament. India currently allows private ...

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• 6 August

  UK Green subsidies need revamp to meet net zero: SSE

  

  BLOOMBERG The UK may need to overhaul its renewable energy subsidy auctions to deliver on its net zero target, according to the head of utility SSE PLC. While Britain has long been the world leader in offshore wind power, projects have been put at risk by rapidly falling subsidies that can’t match rising prices. Swedish developer Vattenfall AB shelved a ...

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• 6 August

  India’s IndiGo posts record profit on soaring demand, go failure

  

  BLOOMBERG IndiGo, India’s biggest airline, posted record quarterly profit in the three months through June, as the demand for travel surged and a smaller competitor’s insolvency funneled a windfall of business. The carrier reported net income of 30.87 billion rupees ($374 million) in the quarter, almost double analysts’ forecast of 17.6 billion rupees, it said in a stock exchange filing. ...

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• 6 August

  Ethiopian Air-backed carrier to start in Nigeria by October

  

  BLOOMBERG An airline established by Ethiopian Airlines Group in partnership with institutional investors and the Nigerian government plans to start operations in the West African nation as early as October. The airline, named Nigeria Air, will start with a combination of two wide-bodied planes and six narrow-bodied aircraft, Mesfin Tasew, chief executive officer of Ethiopian Airlines said in an interview ...

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• 6 August

  Top court in India suspends Rahul Gandhi’s conviction

  

  BLOOMBERG India’s top court stayed Rahul Gandhi’s conviction in a high-stakes defamation case, enabling the opposition leader to seek his reinstatement as a lawmaker and to contest general elections due next year. In their judgment, a three-person Supreme Court bench said that Gandhi’s conviction impacts not only him, but also “the rights of the electorate who have elected him to ...

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• 6 August

  Former Thai PM seen in Cambodia after delaying return from exile

  

  BLOOMBERG Former Thai Prime Minister Thaksin Shinawatra appeared in Cambodia to celebrate the birthday of the nation’s leader, after delaying a return to his home country amid political turmoil. The 74-year-old, who has lived in self-imposed exile for 15 years, visited the neighbouring nation, ruled by strongman leader Hun Sen, to celebrate the premier’s 71st birthday, according to local news ...

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