August, 2023

• 4 August

  Chinese media to actively participate in 2nd Global Media Congress: Envoy

  

  ABU DHABI / WAM Chinese media will actively participate in the upcoming Global Media Congress in Abu Dhabi, which will explore the media of the new era and convey the common values and ideals of humankind through technology, innovation, and win-win collaboration, a top Chinese diplomat told the Emirates News Agency (WAM). “China strongly supports the UAE in successfully holding ...

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• 4 August

  UAE ambassador to Peru attends presidential reception on Independence Day

  

  LIMA / WAM Mohammed Abdullah Al Shamsi, the UAE ambassador to the Republic of Peru, has attended a reception hosted by Dina Boluarte, President of Peru, at the Presidential Palace on the occasion of Peru’s Independence Day. Al Shamsi conveyed the greetings of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, His Highness Sheikh Mohammed bin Rashid Al Maktoum, ...

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• 4 August

  Vietnam’s stock market recovering fast, strongly

  

  HO CHI MINH CITY / WAM Vietnam’s stock market is witnessing the fastest and strongest recovery since the beginning of this year, as the VN-Index has surpassed the threshold of 1,200 points, state news agency (VNA) reported. Most stocks have risen significantly compared to the end of 2022, and the list of enterprises with a capitalisation over $10 billion expanded. ...

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• 4 August

  Futures rise, yields fluctuate over Fed rate hike speculation

  

  BLOOMBERG Stock futures rose and bond yields wavered after data showing labour-market softening reinforced speculation the Federal Reserve will have room to skip an interest-rate hike in September. After swinging between gains and losses, S&P 500 contracts pushed higher. Treasury two-year yields, which are more sensitive to imminent Fed moves, were little changed alongside the dollar. US employment increased at ...

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• 4 August

  Arada awards AED395mn contract to build Nasaq District

  

  SHARJAH / WAM Arada has awarded a major contract to build Nasaq District, a cluster of six upscale apartment buildings located within the master plan of Sharjah’s largest mixed-use community, Aljada. Valued at AED395 million, the contract to build Nasaq District was awarded to Gulf Asia Contracting Company LLC (GAC). Construction work on Nasaq Distict will begin immediately and is ...

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• 4 August

  Emirates Steel sees 45% surge in international exports in H1

  

  ABU DHABI / WAM Saeed Ghumran Al Remeithi, Group CEO of Emirates Steel Arkan, said the group’s financial performance in the first half of 2023 was successful despite the industrial sector’s challenges. He attributed the company’s success to a rise in demand from local markets, which accounted for 55 percent of the company’s iron sales. In his statement to the ...

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• 4 August

  Khaled bin Mohamed bin Zayed opens IMMAF Youth World Championships in Abu Dhabi

  

  ABU DHABI / AD Media His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of Abu Dhabi Executive Council, has inaugurated the 4th IMMAF Youth World Championships, being held in Abu Dhabi under His Highness’ patronage from August 2-5 at Mubadala Arena in Zayed Sports City. His Highness presented medals to the ...

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• 4 August

  ‘Painful reminder’: UAE President shares message on 9th anniversary of Yazidi massacre in Iraq

  

  UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan, said on Twitter, “The 9th anniversary of the crimes committed by the Daesh terrorist group against the Yazidis and others in Iraq is a painful reminder of the importance of embracing peaceful coexistence and rejecting all forms of discrimination based on religion or sect or ethnicity.”

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• 4 August

  BOJ intervenes for second time to slow yield spike

  

  BLOOMBERG The Bank of Japan (BOJ) came into the market for the second time to slow gains in benchmark sovereign bond yields, underscoring its determination to curb sharp moves in rates even as it makes room for them to rise. The buying operation also highlighted the challenge investors face interpreting a rates regime that is built on gray lines to ...

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• 4 August

  ING beats estimates as lower loan provisions boost profit

  

  Bloomberg ING Groep NV reported second quarter profit that beat analyst estimates as it set aside less money for soured loans. Net income of €2.16 billion ($2.36 billion) in the second quarter compared with expectations for profit of €1.72 billion, the bank said. ING added €98 million to its loan loss provisions in the quarter, well below the €383 million ...

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