July, 2023

• 6 July

  SpiceJet is most delayed Indian airline as summer rush hits

  

  BLOOMBERG Passengers on cash-strapped SpiceJet Ltd are experiencing the most flight disruptions in India, the world’s fastest-growing aviation market. With the busy summer travel season arriving, only 61% of SpiceJet’s flights departed on time from the country’s four biggest airports — Mumbai, Delhi, Bengaluru and Hyderabad — in May, according to the Directorate General of Civil Aviation. That’s down from ...

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• 6 July

  Adidas’s sole female executive board member steps down

  

  BLOOMBERG Adidas AG said Amanda Rajkumar will step down from the executive board after deciding not to extend her term, leaving the company facing a fresh diversity challenge. Rajkumar joined Adidas as head of global human resources, people and culture at the beginning of 2021, and is the only woman on the board. She’s also the latest senior woman to ...

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• 6 July

  Abdullah bin Zayed, Antony Blinken discuss latest regional, global developments

  

  ABU DHABI / WAM H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs, spoke by phone with US Secretary of State Antony J. Blinken, to discuss the strategic bilateral relations as well as joint cooperation and partnership in various fields. During the conversation, H.H. Sheikh Abdullah bin Zayed treasured the support extended by the friendly US for the ...

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• 6 July

  Shaoxing City held 2023 UAE Economic and Trade Cooperation Promotion Conference in Dubai

  

  DUBAI / GULF TIME On July 2, local time, hosted by Shaoxing City People’s Government, organized by Shaoxing City Economy and Information Technology Bureau and Shaoxing City People’s Government Foreign Affairs Office, Shaoxing UAE Chamber of Commerce, 2023 UAE economic and Trade Cooperation Promotion Conference was held in Shangri-La Hotel, Dubai. Shaoxing City held this Promotion Conference to actively participate ...

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• 5 July

  Voluntary oil output cuts ensure global market stability: Suhail Al Mazrouei

  

  VIENNA / WAM Suhail bin Mohammed Al Mazrouei, UAE Minister of Energy and Infrastructure, has affirmed that voluntary oil output cuts by Opec and non-Opec producers have contributed to ensuring global oil market stability and balance in market fundamentals between supply and demand. In statements to the Emirates News Agency (WAM), on the sidelines of the 8th Opec International Seminar, ...

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• 5 July

  UAE President, UK Prime Minister discuss bilateral relations

  

  ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan today spoke by telephone to Rishi Sunak, Prime Minister of the United Kingdom. The two leaders reviewed the historical relationship between the UAE and the UK and discussed ways to further drive progress under the “Partnership for the Future”, established in September 2021. Both sides also ...

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• 5 July

  Rakez inks pact with Manufacturers’ Association of Israel to boost cooperation

  

  RAS AL KHAIMAH / WAM Ras Al Khaimah Economic Zone (Rakez) has taken a significant step towards expanding economic cooperation between the UAE and Israel by signing a Memorandum of Understanding (MoU) with the Manufacturers’ Association of Israel (MAI). The agreement was signed by Chief Government and Corporate Relations Officer of Rakez, Yaser Abdulla Al Ahmed, and Deputy CEO of ...

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• 5 July

  Palms Sports sets pace for H2 with AED300m new business acquisition

  

  ABU DHABI / WAM Palms Sports, the prominent regional sports management company and the largest mass Jiu-Jitsu training provider in the world, a subsidiary of International Holding Company (IHC), has revealed on Wednesday its complete acquisition of Securiguard Middle East, a specialised firm offering security services across diverse sectors. The acquisition, which amounts to AED 300 million, highlights Palms Sports’ ...

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• 5 July

  Mubadala invests in CoolIT Systems alongside KKR

  

  ABU DHABI / WAM Mubadala Investment Company has announced that it invested alongside investment funds managed by KKR, a leading global investment firm, in the acquisition of CoolIT Systems (CoolIT), which was announced on May 2. Headquartered in Calgary, Canada, with operations across North America, China and Taiwan, CoolIT specialises in scalable liquid cooling solutions for the world’s most demanding ...

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• 5 July

  Spain may be moving too fast in its green energy push

  

  BLOOMBERG  At a port across from Gibraltar, two European monarchs made a rare joint appearance in June to bestow their imprimatur on a bold and risky endeavour. Standing alongside freight ships in Algeciras, King Felipe VI of Spain and King Willem-Alexander of the Netherlands inaugurated a new maritime corridor. The critical cargo that attracted the attention of modern royalty was: ...

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