July, 2023

• 13 July

  Amazon Prime Day invite-only deal targets buyer frustration

  

  BLOOMBERG Amazon.com Inc’s Prime Day sale can be a frustrating experience because the best deals are often gone in seconds. So this year, the company is dangling an “invite-only” promotion designed to give customers a better shot at snagging the bargains they want. Shoppers request an invite for discounted items they see on the site — 32% off an Acer ...

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• 13 July

  Dubai Municipality, Diez sign pact for Dubai Horizons System

  

  DUBAI / WAM Dubai Municipality signed a memorandum of understanding (MoU) with the Dubai Integrated Economic Zones (Diez) Authority as part of the Dubai Horizons System, which organises routes in low-altitude airspace and drone landing locations. The MoU supports the aspirations of Dubai in the field of air mobility and achieving objectives and strategies of Dubai Municipality for the Dubai ...

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• 13 July

  UAE welcomes adoption of UNHRC resolution on countering hatred

  

  ABU DHABI / WAM The UAE has welcomed the adoption of the United Nations Human Rights Council (UNHRC) resolution on countering religious hatred as incitement to discrimination, hostility, or violence, stressing the importance of enhancing respect for religions, tolerance, and peaceful coexistence, which are the most effective principles to achieve prosperity, development, and harmony. In a statement, the Ministry of ...

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• 13 July

  COP28 Presidency releases inclusive plan to enable responsible energy transition

  

  BRUSSELS / WAM Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, and COP28 President-Designate, has called on governments, industry, and all stakeholders to “disrupt business as usual” and take decisive action to tackle the climate crisis. Speaking at the Ministerial on Climate Action in Brussels, convened by the environment ministers of the European Union, Canada, and ...

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• 13 July

  UAE’s Emirates Steel Arkan signs agreement with Oman’s AJSP 

  

  ABU DHABI / WAM Emirates Steel Arkan (ESA) has signed a memorandum of understanding (MoU) with the Sultanate of Oman’s leading steel products manufacturer Al Jazeera Steel Product Company (AJSP) to establish a strategic framework for collaboration, further benefitting from joint product expertise and seizing new opportunities in the steel business ecosystem. This MoU comes at a time when AJSP ...

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• 13 July

  Bank of Korea sticks with stance after holding rates

  

  The Bank of Korea (BOK) held its policy rate steady for a fourth-straight meeting and pledged to retain a restrictive policy stance for a considerable time as it seeks to put a lid on consumer inflation. The central bank kept its seven-day repurchase rate at 3.5% as predicted by all 15 economists surveyed by Bloomberg News. The BOK pledged in ...

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• 13 July

  Wells Fargo taps rivals to boost M&A team

  

  BLOOMBERG  Wells Fargo & Co has hired a couple of mergers and acquisitions bankers from Barclays Plc and Citigroup Inc as it builds up its Wall Street advisory business, according to a person familiar with the matter. Tom Drake is joining the San Francisco-based bank from Barclays as a managing director in its M&A group focussing on healthcare services and ...

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• 13 July

  Warren calls on Fed to halt interest-rate hikes as inflation eases

  

  BLOOMBERG  Senator Elizabeth Warren called on the Federal Reserve to halt interest-rate increases as the US inflation rate slid to a more than two-year low. “Take yes for an answer, Chair Powell, and let’s stop with the rate increases,” Warren, a Massachusetts Democrat, said in an interview. She has famously called Jerome Powell, the central bank’s chairman, a “dangerous man ...

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• 13 July

  Hong Kong plans to raise bank deposit protection from 2025

  

  BLOOMBERG  Hong Kong plans to raise the maximum protection on bank deposits in a move designed to better shield people during times of severe stress. The Hong Kong Monetary Authority (HKMA) proposed to increase the amount of savings covered by the government guarantee in the event of bank failure to HK$800,000 ($102,272) per depositor at each Hong Kong bank, up ...

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• 13 July

  Dewa receives Net-Zero statement of verification

  

  DUBAI / WAM Dubai Electricity and Water Authority (Dewa) has received the Net-Zero statement of verification and assurance certificate in recognition of its relentless efforts in climate action. This followed a comprehensive assessment conducted by W3 Solutionz – USA through CanaGulf International Standardisation, based on the International Workshop Agreement Guidelines IWA 42:2022. These were announced for the first time during ...

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