July, 2023

• 28 July

  Stocks surge, dollar slips as peak Fed bets mount

  

  BLOOMBERG Global equities surged on Thursday and the dollar retreated, as investors wagered the Federal Reserve has reached the end of its 16-month long policy-tightening cycle. The Stoxx Europe 600 index rose 1%, with almost all sectors gaining, and US futures pointed to a strong session on Wall Street. Contracts on the tech-heavy Nasdaq 100 were up 1.1%. The moves ...

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• 27 July

  China tech stocks on brink of bull market on stimulus hopes

  

  BLOOMBERG A gauge of China tech shares traded in Hong Kong closed just shy of entering a technical bull market over expectations of further stimulus for the nation’s flagging economy. The Hang Seng Tech Index climbed 2.9%, extending gains from a May low to 19.7%. While shares had been lifted in recent months thanks to easing regulatory constraints and stimulus ...

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• 27 July

  UAE President mourns passing of Saeed bin Zayed, three days of mourning announced

  

  ABU DHABI / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has mourned his late brother H.H. Sheikh Saeed bin Zayed Al Nahyan, Abu Dhabi Ruler’s Representative, who passed away on Thursday. The Presidential Court issued the following obituary: “In the name of Allah, the Most Gracious, the Most Merciful… With hearts faithful to God’s decree and destiny, ...

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• 27 July

  Abdullah bin Zayed meets UN-appointed Special Coordinator for Independent Assessment on Afghanistan

  

  ABU DHABI / WAM H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs, Wednesday met with Ambassador Feridun Hadi SinirlioÄŸlu, UN-appointed Special Coordinator for the Independent Assessment of the Situation in Afghanistan. Held in Abu Dhabi, the meeting discussed the overall situation in Afghanistan, and prospects for cooperation between the UAE and the UN in this regard. Sheikh ...

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• 26 July

  DIB logs 15% net profit growth reaching AED3.1bn in H1’23

  

  DUBAI / WAM Dubai Islamic Bank (DFM: DIB), the largest Islamic bank in the UAE, today announced its financial results for the period ending 30th June, 2023. The bank’s group net profit came in at AED 3.111 billion, up 15 percent YoY compared to AED 2.7 billion, driven by rising core revenues, controlled impairments and effective cost management. DIB’s net ...

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• 26 July

  Emirati humanitarian organisations distribute food parcels to Sudanese refugees in Chad

  

  AMDJARASS / WAM An Emirati humanitarian delegation, led by the Emirates Red Crescent (ERC), the Zayed bin Sultan Al Nahyan Charitable and Humanitarian Foundation (Zayed CHF) and the Khalifa bin Zayed Al Nahyan Foundation (KF), launched an initiative to distribute food parcels to Sudanese refugees and the local community in the city of Amdjarass, Chad, in coordination with the UAE’s ...

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• 26 July

  Sharjah Sustainable City reports strong sales performance in H1 2023

  

  SHARJAH / WAM Sharjah Sustainable City — the first sustainable master-planned residential community developed by Sharjah Investment and Development Authority (Shurooq) in partnership with Diamond Developers — has announced strong sales performance in the first half of 2023, further demonstrating its position as a leading sustainable developer in the region. Launched at Acres 2023, the 4th and final phase of ...

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• 26 July

  NMDC doubles first half net profit to AED881m

  

  ABU DHABI / WAM National Marine Dredging Group has announced a significant surge in its net profit during the first half of 2023, reaching AED 881 million. This remarkable achievement reflects the success of the group’s geographic expansion strategy and the successful execution of major projects. The first half year results demonstrate record-breaking numbers and substantial growth in both revenue ...

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• 26 July

  UAE’s Masdar joins Iberdrola to co-invest in Baltic Eagle wind farm

  

  MADRID / WAM Masdar has signed a strategic agreement with Iberdrola, a global clean energy leader, to co-invest in the 476-megawatt (MW) Baltic Eagle offshore wind farm in the German Baltic Sea. Iberdrola will retain a majority 51% stake in the asset, which will help to accelerate green energy security in Europe. According to the deal terms, Baltic Eagle wind ...

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• 26 July

  UAE leaders wish President of Maldives on Independence Day

  

  ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to Ibrahim Mohamed Solih, President of the Maldives, on the occasion of his country’s Independence Day. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh ...

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