August, 2023

• 8 August

  ADQ, Safe Haven Solutions partner to develop advanced greenhouse facility at AgTech Park

  

  ABU DHABI / WAM ADQ has partnered with Safe Haven Solutions, a Netherlands-based climate-smart agriculture solution provider, to construct a high-tech greenhouse at ADQ’s AgTech Park in Kezad. The automated 10-hectare facility will leverage advanced agricultural technology to increase sustainable food production in the UAE. Designed to be sustainability-focused, the greenhouse facility will operate with an efficient cooling system that ...

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• 8 August

  Jafza to house Neweast’s new AED500mn automotive hub

  

  DUBAI / WAM Neweast General Trading, a leading player in the automotive industry, has signed a landmark lease with DP World’s flagship trade and logistics hub, Jebel Ali Free Zone (Jafza), to establish the largest spare parts hub in the Middle East and Africa. The company plans to invest approximately AED 500 million ($136.2million) to transform a 165,000 sqm space ...

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• 8 August

  Gender balance a long-standing priority for UAE, Sheikha Manal tells G20 ministerial conference

  

  DUBAI / WAM HH Sheikha Manal bint Mohammed bin Rashid Al Maktoum, President of the UAE Gender Balance Council and wife of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Minister of the Presidential Court, confirmed that enhancing gender balance is a long-standing priority for the UAE and women play a vital role in ...

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• 8 August

  Mansour bin Zayed approves 2023-2024 season programme of Emirates International Endurance Village

  

  ABU DHABI / WAM HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Presidential Court, has approved the race programme for the 2023-2024 season of the Emirates International Endurance Village, which includes various competitions. The President of UAE Endurance Cup will take place on February 11 at the village, located in Al Wathba. The first ...

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• 8 August

  Science & Fun Experiments Lead the Way Back to School: Bawabat Al Sharq Mall Invites Kids to Innovate, Discover and Play

  

  ABU DHABI/GULFTIME Always committed to delivering an exceptional experience for all members of the family, Bawabat Al Sharq Mall is getting ready to welcome Back-to-School season with fun scientific experiments that enable kids to learn through discovery and play. From August 18 to 25, young visitors will have the chance to attend Science Stage shows stretched over eight days, with ...

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• 7 August

  China’s PBOC adds more gold for ninth month

  

    BLOOMBERG China raised its gold reserves for a ninth straight month in July as central bank purchases continue to underpin prices of the precious metal. Bullion held by the People’s Bank of China (PBOC) rose by 740,000 troy ounces, the central bank said. That’s equivalent to about 23 tons. Total stockpiles now sit at 2,137 tons, with around 188 ...

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• 7 August

  Bitcoin loses mojo after first-half rally fails to reignite enthusiasm

  

  BLOOMBERG Chalk it up to the heat, to late-summer doldrums, or to the phases of the moon, but the usually volatile Bitcoin hasn’t been acting in its typical sporadic ways of late. The largest digital currency has gone eight trading sessions without a 1% move, the longest such stretch since the start of January, according to data compiled by Bloomberg. ...

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• 7 August

  Thai stocks rebound in sign locals see end of political gridlock

  

  BLOOMBERG Thailand’s domestic investors are snapping up the nation’s beaten down equities, betting that the months long political standoff will be resolved soon. The benchmark stock index has rallied more than 4% from a June 28 trough, and may extend if a government takes office soon, according to analysts. While the SET gauge is still Asia’s worst-performing equity market this ...

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• 7 August

  Treasuries slide as S&P 500 futures signal rebound

  

  BLOOMBERG A selloff in government bonds accelerated Monday as the threat of further rate hikes unsettled traders. The yield on 30-year German bonds rose nine basis points to 2.72%, the highest since early 2014. Similar-maturity Treasury yields jumped seven basis points. US equity futures rose modestly, signalling a rebound from Friday’s retreat. Federal Reserve Governor Michelle Bowman said over the ...

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• 7 August

  Dubai surpasses pre-pandemic international visitation levels in H1 2023 with 20% YoY growth

  

  DUBAI / WAM Dubai’s resurgent tourism industry is celebrating a successful first half of 2023 (H1 2023), after welcoming a record 8.55 million international overnight visitors, compared to 8.36 million tourists in H1 2019. Surpassing pre-pandemic visitation levels and further bolstering the city’s bid to become the world’s most visited destination, the latest data published by Dubai’s Department of Economy ...

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