May, 2023

• 31 May

  UAE’s Etihad Airways named Environmental Airline of 2023

  

  ABU DHABI / WAM Etihad Airways has been named Environmental Airline of the Year 2023 for the second year running in the Airline Ratings awards. The Airline Ratings awards acknowledge the best of the aviation industry and rank airlines on their innovation, route networks and safety score against strict assessment criteria. The awards recognised Etihad’s commitment to sustainable aviation through ...

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• 31 May

  Adnoc signs pacts with 60 firms at Make it in the Emirates forum

  

  ABU DHABI / WAM Abu Dhabi National Oil Company (Adnoc) announced on Wednesday at the Make it in the Emirates forum in Abu Dhabi, new agreements with more than 60 UAE-based and international companies to locally manufacture critical non-oil products in its supply chain. The new agreements bring Adnoc closer to its target to locally manufacture AED70 billion ($19 billion) ...

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• 31 May

  Khaled bin Mohamed bin Zayed visits second edition of Make it in the Emirates forum

  

  ABU DHABI / WAM HH Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, on Wednesday attended the second edition of the ‘Make it in the Emirates’ forum. Taking place at the Abu Dhabi Energy Centre, the forum is organised in partnership with the Ministry of Industry and ...

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• 31 May

  Mohammed bin Rashid approves new futuristic masterplan for Palm Jebel Ali

  

  DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, approved the new futuristic development masterplan of Palm Jebel Ali. Part of the Dubai 2040 Urban Master Plan, Palm Jebel Ali is one of a series of visionary projects being undertaken by world-leading Dubai-based real estate master developer ...

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• 31 May

  Rate hikes putting market stability at risk, warns ECB

  

  BLOOMBERG  The European Central Bank (ECB) said that financial markets will be vulnerable to negative shocks as it continues the fight against inflation, with real estate among the sectors at risk. Higher interest rates are testing the resilience of households, companies, governments and property markets, the institution said on Wednesday in its biannual Financial Stability Review. That’s leaves investors potentially ...

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• 31 May

  Thailand flags price risks after raising rate to eight-year high

  

  BLOOMBERG  Thailand’s central bank raised its benchmark interest rate to the highest level in eight years, while making a case for retaining a tightening bias to anchor inflation firmly in the tourism-fuelled economy. The Bank of Thailand’s (BOT) Monetary Policy Committee (MPC) voted unanimously to raise the one-day repurchase rate by 25 basis points to 2% on Wednesday, as seen by ...

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• 31 May

  Citigroup sees dealmaking slump easing in wake of debt-limit deal

  

  BLOOMBERG  Citigroup Inc has begun to see signs of a rebound in investment banking, with an agreement to avert a US debt default poised to further boost deal volumes. The company had already begun to see a pickup in both investment-grade debt and equity underwriting, Tyler Dickson, co-head of Citigroup’s banking, capital markets and advisory unit, said in a Bloomberg ...

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• 31 May

  UAE reviews efforts in cultural and creative sector

  

  DUBAI / WAM A delegation representing the UAE Ministry of Culture and Youth reviewed the country’s effort in protecting cultural property, harnessing tangible heritage for a sustainable future, its strategy to promote the creative economy and the cultural industries and leveraging digital technologies in protecting culture and heritage at the second G20 Culture Working Group (CWG) meeting in Bhubaneshwar, India, ...

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• 31 May

  UAE issues law on taxation of corporations, businesses

  

  ABU DHABI / WAM The Ministry of Finance (MoF) has issued three new Ministerial Decisions for the purposes of Federal Decree-Law No 47 of 2022 on the Taxation of Corporations and Businesses. These include Ministerial Decision No 132 of 2023 on Transfers within a Qualifying Group, Ministerial Decision No 133 of 2023 on Business Restructuring Relief, and Ministerial Decision No ...

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• 31 May

  AD Ports signs deal with Adro to attract top talent, investors

  

  ABU DHABI / WAM AD Ports Group has announced the signing of a memorandum of understanding with Abu Dhabi Residents Office (Adro), Abu Dhabi Department of Economic Development’s arm to support the emirate’s thriving international community, to promote the benefits and initiatives which aim to attract and retain top talent in Abu Dhabi. The partnership will develop a joint strategy ...

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