July, 2023

• 23 July

  Sheikh Mohamed meets with leaders on sidelines of Development and Migration Conference in Rome

  

  ROME / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan on Sunday had discussions with Tunisian President Kais Saied, Lebanese Prime Minister Najib Mikati, President of the European Commission Ursula von der Leyen, and European Council President Charles Michel, in separate meetings on the sidelines of the International Conference on Development and Migration which took place in ...

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• 23 July

  UAE President participates in International Conference on Development and Migration in Rome

  

  ROME / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan participated on Sunday in the International Conference on Development and Migration, which took place in the Italian capital, Rome. The conference was inaugurated by Giorgia Meloni, Prime Minister of Italy, in the presence of heads of state, government ministers, and representatives of regional and international organisations concerned ...

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• 23 July

  UAE aid plane arrives in Chad carrying food parcels for Sudanese refugees, local community

  

  AMDJARASS / WAM A UAE aid aircraft has arrived in Amdjarass, Chad, carrying food parcels sent by the Emirates Red Crescent (ERC), the Zayed bin Sultan Al Nahyan Charitable and Humanitarian Foundation and the Khalifa Bin Zayed Al Nahyan Foundation, in coordination with the Ministry of Foreign Affairs. The shipment was received by representatives of UAE humanitarian organisations. Dr Ahmed ...

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• 23 July

  Ruwad okays funding for three projects in Q2

  

  SHARJAH / WAM The Sharjah Foundation to Support Pioneering Entrepreneurs (Ruwad), affiliated to the Sharjah Economic Development Department, has approved the financing of three projects after studying the feasibility of 15 requests for funding in various sectors between April and June. Sultan Abdullah bin Hadda Al Suwaidi, Chairman of the Sharjah Economic Development Department, praised the facilities and exemptions provided ...

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• 23 July

  Dewa’s projects in digital transformation reviewed

  

  DUBAI / WAM Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications and Director-General of the Prime Minister’s Office, affirmed that the UAE, guided by the visionary leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and the proactive approach of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice ...

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• 23 July

  Air-taxis zoom through US skies by 2028

  

  BLOOMBERG Urban air-taxis can begin service over US cities as soon as 2028 by largely adhering to existing flight rules for helicopters and other low-altitude aircraft, according to federal regulators. The Federal Aviation Administration (FAA) timeline is three years beyond the agency’s initial goal of certifying the first of such aircraft by 2025. During initial phases, the taxis will have ...

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• 23 July

  Jaguar owner Tata picks Britain for $5.2bn battery plant

  

  BLOOMBERG Tata Group plans to build a £4 billion ($5.2 billion) battery plant in the UK to supply electric vehicles made by Jaguar Land Rover Automotive Plc, in a win for Britain’s struggling car industry. JLR and Tata Motors Ltd will be anchor customers for the plant capable of providing 40 gigawatt hours worth of batteries with supplies starting from ...

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• 23 July

  Banks notch up ‘buyout’ deal wins from private credit firms

  

  BLOOMBERG After a year dominated by direct lenders, investment banks are now winning some bigger deals in the buyout financing market. Among them are the $9.4 billion of debt financing backing GTCR’s purchase of a majority stake in Worldpay Inc — the largest buyout financing since Elon Musk’s takeover of Twitter last year. A group of banks are selling the ...

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• 23 July

  Nigerian central bank loses battle to close naira exchange-rate gap

  

  BLOOMBERG Nigeria’s official currency exchange rate is once again widening a gap with the parallel-market rate, shrugging off a brief convergence spurred by central bank actions. The naira closed at 743 per dollar on the platform accepted as the official rate by the central bank, according to data compiled by Bloomberg. That’s about 11% stronger than the 834 a dollar ...

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• 23 July

  ECB to push banks for weekly liquidity data as scrutiny grows

  

  BLOOMBERG Bank of New York Mellon (BNY) wants to do money managers’ trading for them with a new outsourcing service aimed at helping buy-side firms cut costs. The move builds on the trading that BNY Mellon already handles for $1.8 trillion of assets it manages, the firm said in a statement. The bank will target current and prospective clients, primarily ...

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