July, 2023

• 2 July

  Biden to shore up Nato allies after failed mutiny in Russia

  

  BLOOMBERG US President Joe Biden will leave for Europe in a week to firm up ties with key Nato allies, including the UK, in the wake of the last month’s abortive uprising in Russia. Biden plans to hold talks with UK Prime Minister Rishi Sunak before heading to Vilnius, Lithuania, for the 74th Nato summit, and ending in Finland with ...

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• 2 July

  Bosnia envoy revokes Bosnian Serb laws

  

  BLOOMBERG Bosnia-Herzegovina’s international overseer revoked two laws adopted by ethnic Serbs as unconstitutional, the latest standoff threatening stability in the country’s fragile postwar balance. Christian Schmidt, the Western-backed envoy with powers to change legislation that harms Bosnia’s complex power-sharing set up after ethnic warfare in the 1990s, struck down laws adopted by lawmakers in the Republika Srpska entity that denied ...

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• 2 July

  Central Intelligence Agency chief calls war in Ukraine ‘corrosive’ for Putin’s regime

  

  BLOOMBERG The invasion of Ukraine has had a “corrosive effect” on Russian society and President Vladimir Putin’s regime, creating an “opportunity” for the US, said William Burns, director of the Central Intelligence Agency (CIA). The top US spy made rare public comments, delivering a lecture at the Ditchley Foundation in Chipping Norton, northwest of London. “Disaffection with the war will ...

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• 2 July

  French riots over killing start to ease

  

  BLOOMBERG A fifth night of unrest across France was more subdued as authorities contained the fallout from the killing of a teenager that has reignited debate about racism and inequality. The riots and looting, which have drawn comparisons with America’s reaction to the murder of George Floyd in 2020, have become a moment of reckoning for the country which has ...

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• 2 July

  SCCI’s Sharjah Summer Promotions 2023 kicks off

  

  SHARJAH / WAM The highly anticipated Sharjah Summer Promotions 2023, organised annually by the Sharjah Chamber of Commerce and Industry (SCCI), marks the start of a 65-day extravaganza filled with promotions, mega discounts, entertainment events, and valuable prizes across the emirate. Considered one of the key events in Sharjah’s annual retail calendar, this year’s edition holds special significance as it ...

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• 2 July

  Pact signed for rehabilitation of people of determination

  

  ABU DHABI / WAM Zayed Higher Organization for People of Determination (ZHO) has signed a memorandum of understanding (MoU) with Al Shaiba Saeed Al Hameli Group of EST. (Al Firas General Cont & Maint Est), on the rehabilitation and employment of people of determination. ZHO allocates part of the mechanics workshop in its Department of Vocational and Agricultural Rehabilitation for ...

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• 2 July

  Nominations open for Date Palm International Photography competition

  

  ABU DHABI / WAM The General Secretariat of the Khalifa International Award for Date Palm and Agricultural Innovation has announced the opening of nominations for the 2024 “Date Palm International Photography” competition, which is held under the patronage of Sheikh Nahyan Mubarak Al Nahyan, Minister of Tolerance and Coexistence, and Chairman of the Award’s Board of Trustees. Professional photographers, and ...

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• 2 July

  UAE economy poised for stronger growth in second half of this year 

  

  ABU DHABI / WAM Despite the geopolitical ramifications that the global economy is currently facing, the UAE economy is poised for stronger growth, recovery, and prosperity in the second half of this year, supported by a track record of economic successes that have fructified into the UAE’s designation as an innovation-driven economy. The domestic economy’s resilience, which has passed through ...

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• 2 July

  JPMorgan, Wells Fargo, Morgan Stanley to pay higher dividends

  

  BLOOMBERG  JPMorgan Chase & Co, Wells Fargo & Co, Morgan Stanley and Goldman Sachs Group Inc led US banks in announcing higher dividends after every lender subject to this year’s Federal Reserve stress tests passed the exam. The banking giants announced the increases after the close of trading, as regulators freed the industry to update shareholders on payouts following this ...

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• 2 July

  China’s PBOC sticks with yuan support

  

  BLOOMBERG  China took steps to slow a decline in the yuan for a fourth time, as its weakness intensified on souring sentiment towards the world’s second-largest economy. The central bank set its so-called fixing for the managed currency at a stronger-than-expected level, after the offshore yuan extended a seven-month low. The move came after reports that regulators have stepped up ...

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