August, 2023

• 17 August

  UAE leaders congratulate President of Gabon on Independence Day

  

  ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to President Ali Bongo Ondimba of Gabon, on the occasion of his country’s Independence Day, observed on August 17. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and ...

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• 17 August

  Sheraa unveils ‘Youth Ambassadors’ campaign, elevating UAE’s diverse young innovators

  

  SHARJAH / WAM In a drive to resonate with the youthful spirit of innovation and boundless potential, the Sharjah Entrepreneurship Centre (Sheraa) announces the launch of their ‘Sheraa Youth Ambassadors’ campaign, marking a transformative step towards amplifying the voices of UAE’s most outstanding young talents. Launching in conjunction with International and UAE Youth Day on August 12, the campaign, powered ...

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• 17 August

  Archer Aviation raises $215 million in funding

  

  BLOOMBERG Archer Aviation Inc said it raised $215 million in funding and patched up a legal dispute with Boeing Co, paving the way for the electric air-taxi startup to collaborate with its former adversary on future designs. Archer received investments from Boeing, as well as existing backers Stellantis NV, United Airlines Holdings Inc and tech-focused Ark Invest, it said in ...

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• 17 August

  Largest Sicily Airport reopens after Mount Etna ash cloud grounded flights

  

  BLOOMBERG Sicily’s largest airport in Catania reopened after an eruption of Mount Etna forced it to close. The website of Catania Airport, Italy’s sixth by passenger traffic before the pandemic, is showing mostly regular flights with some minor delays and a few cancellations. Mount Etna, Europe’s most active volcano, erupted  in the southeast crater at an altitude of about 2,700 ...

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• 17 August

  Walmart lifts profit outlook again on boost from bargain seekers

  

  BLOOMBERG Walmart Inc raised its annual profit forecast for the second straight quarter after scoring new sales gains with bargain-hunting US shoppers. Food revenue continued to rise strongly and Walmart’s general merchandise business was stronger than the company expected at the beginning of the second quarter, said Chief Financial Officer John David Rainey. The retailer is also still benefiting from ...

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• 17 August

  Cathay Pacific woos travellers with cheapest tickets since Covid

  

  BLOOMBERG Cathay Pacific Airways Ltd started selling some of its cheapest tickets in more than three-and-a-half years, offloading 100,000 economy seats at steep discounts. Hong Kong’s main airline ran the promotional offer to more than 30 destinations for travel between January to June 2024. The two-week sale started at 2 pm local time, though many customers were left waiting for ...

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• 17 August

  US airlines plan to double China flights as pandemic limits ease

  

  BLOOMBERG The three largest US airlines plan to more than double the number of flights to China in the coming months as they take advantage of a deal between the nations to ease pandemic-era travel restrictions. American Airlines Group Inc told Bloomberg it would add three weekly flights between Dallas and Shanghai early next year. The decision came after rivals ...

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• 17 August

  EDB launches supply chain financing for SMEs with Trade Capital Partners

  

  ABU DHABI / WAM Emirates Development Bank (EDB) has inked a memorandum of understanding to create supply chain finance and working capital solutions for SMEs in collaboration with Trade Capital Partners (TCP). This partnership was facilitated by Hub71, Abu Dhabi’s global tech ecosystem, as part of its efforts to support startups with commercial opportunities through its network of leading corporate ...

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• 17 August

  ‘TRENDS’ announces launch of its award for scientific research

  

  ABU DHABI / WAM TRENDS Research and Advisory announced the launch of the TRENDS Hub Award for Scientific Research, which aims to encourage researchers, at the regional and global levels, to conduct creative and effective research on various issues of interest to TRENDS. The award includes four diverse research areas. The first research area includes “political issues, security and military ...

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• 17 August

  DP World announces resilient H1 results with Ebitda of $2.6b

  

  DUBAI / WAM DP World Limited has announced resilient financial results for the first six months to June 30. On a reported basis, revenue grew by 13.9% to $9,037 million and adjusted Ebitda grew by 7.0% to $2,611 million with adjusted Ebitda of 28.9%. DP World Group Chairman and CEO, Sultan Ahmed bin Sulayem, commented, “We are pleased to share ...

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