May, 2023

• 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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• 31 May

  UAE, Switzerland to bolster cooperation in judicial fields

  

  ABU DHABI / WAM Abdullah bin Sultan bin Awad Al Nuaimi, Minister of Justice, received Stefan Blättler, Attorney-General of Switzerland, Massimo Badji, Swiss ambassador to the UAE, and the accompanying delegation. The meeting, which took place at the Minister of Justice’s office in Abu Dhabi, touched upon means to support judicial cooperation between the two friendly countries, especially in the ...

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• 31 May

  Al Marar, Iranian foreign minister discuss avenues of cooperation

  

  ABU DHABI / WAM Khalifa Shaheen Al Marar, Minister of State and Envoy of the Minister of Foreign Affairs, conducted an official visit to the Iranian capital Tehran, during which he met with Hossein Amir-Abdollahian, Minister of Foreign Affairs of the Islamic Republic of Iran; Ali Bagheri Kani, Deputy Foreign Minister for Political Affairs; and Dr Mahdi Safari, Deputy Foreign ...

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• 31 May

  Burjeel Medical City selected to join WIN Consortium

  

  ABU DHABI / WAM Burjeel Holdings has announced that its flagship Burjeel Medical City was selected for membership in the Worldwide Innovative Networking in Personalised Cancer Medicine (WIN) Consortium. This achievement marks another significant milestone for the healthcare provider as it continues to expand its network and expertise in the field of oncology and further strengthen its position as a ...

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• 31 May

  EDB unveils AED424m in financing deals at Make It in the Emirates Forum

  

  ABU DHABI / WAM In a strong show of support for local companies in the manufacturing sector, Emirates Development Bank (“EDB” or “the Bank”), the financial engine for UAE economic development and industrial advancement, today unveiled a comprehensive set of approvals for financing deals totaling AED424 million. The announcement was made at the ‘Make it in the Emirates’ Forum, held ...

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• 31 May

  Saif bin Zayed opens AI-based civil defence readiness room in Dubai

  

  DUBAI / WAM His Highness Lt General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior, has inaugurated the Civil Defence Reading Room at the General Directorate of Civil Defence in Dubai. This pioneering facility, leveraging artificial intelligence (AI) concepts and programmes, stands as the first of its kind in the region. The event was ...

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