July, 2023

• 16 July

  Herald Holdings inks deal with  SAIF Zone to expand business

  

  SHARJAH / WAM Herald Holdings (FZE), a global conglomerate of logistics and shipping companies, has signed an investment agreement with the Sharjah Airport International Free Zone (SAIF Zone) to expand its operations and strengthen its presence in the region. The agreement, inked by Saud Salim Al Mazrouei,  Director of SAIF Zone, and Krishna Kaladharan, Managing Director of Herald Holdings, marks ...

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• 16 July

  19th Liwa Date Festival begins today

  

  AL DHAFRA / WAM The 19th edition of the Liwa Date Festival kicks off today in Liwa, Al Dhafra Region, under the patronage of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Minister of the Presidential Court. Major General Faris Khalaf Al Mazrouei, Commander-in-Chief of the Abu Dhabi Police (ADP) and Chairman of the ...

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• 16 July

  AlNeyadi successfully executes Dreams experiment aboard ISS

  

  DUBAI / WAM The Mohammed Bin Rashid Space Centre (MBRSC) on Sunday announced the successful execution of the Dreams experiment by astronaut Sultan AlNeyadi on the International Space Station (ISS). The experiment, a pivotal achievement in sleep science and space research, was conducted in collaboration with the European Space Agency (ESA), French space agency CNES, and Toulouse University Hospital. The ...

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• 16 July

  Raptors MoU meeting addresses protecting birds of prey

  

  DUBAI / WAM Mariam bint Mohammed Almheiri, Minister of Climate Change and Environment, witnessed the third meeting of signatories to the Raptors MoU (memorandum of understanding) for the conservation of migratory birds of prey in Africa and Eurasia. The meeting took place at the Sheraton Mall of the Emirates Hotel in Dubai. Under the theme “Working Together for the Conservation ...

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• 16 July

  Philippine central bank keeps door open to more rate hike

  

  BLOOMBERG  New Philippine central bank Governor Eli Remolona signalled that further monetary policy tightening is still on the table for the Southeast Asian country, and said it’s “premature” to talk about cutting the key rate. The Bangko Sentral ng Pilipinas remains on the “tightening side” as it monitors upside risks to inflation, including El Nino and wage hikes, Remolona said ...

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• 16 July

  Fed open to another rate hike after expected increase in July

  

  BLOOMBERG  Federal Reserve policymakers are primed to resume raising interest rates this month and remain open to a further increase later in the year. While officials were encouraged by a step-down in price pressures last month, they’re not inclined to pronounce an end to their battle to rein in inflation that has repeatedly surprised them with its persistence. Contributing to ...

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• 16 July

  Sterling bulls face reckoning after currency’s best week

  

  BLOOMBERG  Traders who drove the pound to its best week of the year have a lot riding on the next inflation report, where even a faster-than-expected rate could work against them. Pricing in the options market suggests investors are already revving up to sell, concerned that something in the economy will eventually break under the weight of ever-higher rates. Positioning ...

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• 16 July

  Musk announces xAI in bid to build ChatGPT alternative

  

  BLOOMBERG  Elon Musk, who has hinted for months that he wants to build an alternative to the popular ChatGPT artificial intelligence (AI) chatbot, announced the formation of what he’s calling xAI, a company with a mission to “understand the true nature of the universe.” xAI said its team will be led by Musk and staffed by executives who have worked ...

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• 16 July

  Meta’s Threads to raise stakes for Snap, Pinterest

  

  BLOOMBERG  The arrival of Meta Platforms Inc’s Twitter challenger further complicates the investment case for social media firms Snap Inc and Pinterest Inc, whose share price recoveries lag their larger rival. Facebook parent Meta is by far the dominant player in the sector, and that is extending to its stock this year. Shares have outperformed by leaps and bounds, with ...

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• 16 July

  Lush, Nickelodeon and Paramount Consumer Products launch limited edition product collection tied to SpongeBob Squarepants: Operation Sea Change

  

  DUBAI / GULF TIME Hot on the heels of the SpongeBob SquarePants takeover of the Lush Kitchen Box, Lush is excited to announce that there are more products in the SpongeBob SquarePants collection launched globally in June. Renowned for innovating packaging-free cosmetic items — such as bath bombs, shampoo bars and solid bar soap — the whole collection is designed ...

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