May, 2023

• 31 May

  Taqa, Engie and Ewec close on AED2.3b funding for RO plant

  

  ABU DHABI / WAM Abu Dhabi National Energy Company (Taqa) alongside Engie, a global leader in low-carbon energy solutions, and Ewec (Emirates Water and Electricity Company), announced the successful financial closing of the AED2.3 billion ($620 million) low carbon Mirfa 2 Reverse Osmosis (M2 RO) desalination project. The project is primarily funded (78%) through debt financing from both local and ...

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• 31 May

  Ajman Crown Prince receives ambassador of Senegal

  

  AJMAN / WAM HH Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman, received on Wednesday at the Ruler’s Court, Babacar Matar Ndiaye, ambassador of Senegal to the UAE, to discuss bilateral cooperation. The meeting touched upon ways of strengthening UAE-Senegal ties in various areas for the benefit of the two friendly peoples. The ambassador commended the UAE’s general development ...

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• 31 May

  Deal inked to build 1742 villas for Emiratis in Abu Dhabi

  

  ABU DHABI / GULF TIME Q Holding Group signed two important agreements with Trojan General Contracting, one of the leading local contracting and development companies, to design and build 1,742 villas for Emiratis in Al Samha and West Baniyas region of Abu Dhabi for Q Holding. The agreements follow the partnership between Q Holding and Abu Dhabi Housing Authority to ...

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• 31 May

  Ford taps Tesla chargers in rare partnership between rivals

  

  BLOOMBERG Ford Motor Co struck a deal with rival Tesla Inc to give its electric-vehicle (EV) customers access to the Tesla Supercharger network, a move towards a single industry standard to simplify recharging. The Ford F-150 Lightning, Mustang Mach-E and E-Transit vehicles will be able to power up on 12,000 Superchargers across North America starting next year, using an adapter. Ford’s ...

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• 31 May

  Britain losing its luster for job seekers from Poland to Portugal

  BLOOMBERG It’s not just Brexit that’s dried up the flow of European Union (EU) workers the UK used to depend on. From Poland to Portugal, EU economies are generating more jobs and better wages than Britain. For the UK, that means that arrivals from the EU of just over 150,000 in 2022 were about half the level seen in 2019, ...

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• 31 May

  EU strikes deal with Pfizer to cut Covid vaccine purchases

  

  BLOOMBERG The European Union (EU) reached a deal with Pfizer Inc and BioNTech SE to scale back purchases of Covid-19 vaccines by about a third after some member states said they were reluctant to pay for new deliveries amid an oversupply of shots after the pandemic started to wane. The amended supply contract takes into account the improved epidemiological situation, ...

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• 31 May

  US jobs report all set to provide some solace to Federal Reserve

  

  BLOOMBERG US employers are gradually dialling back the pace of hiring and hourly earnings are moderating, offering some solace to Federal Reserve policymakers in their bid to wrangle still-elevated inflation. Government data are projected to show payrolls in the world’s largest economy increased by less than 200,000 in May, down from average monthly job growth of about 370,000 over the ...

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• 31 May

  Stocks pare loses on China’s economic woes; bonds gain

  

  BLOOMBERG European stocks and US equity futures pared losses sparked by China’s economic woes, while bonds gained amid signs of easing inflation. The Stoxx Europe 600 index pulled back from its lowest level in almost two months. China-exposed luxury-goods makers LVMH and Richemont remained among the biggest laggards, while Swedish landlord SBB plunged to an all-time low after its CEO ...

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• 31 May

  Bitcoin facing first monthly drop of 2023 as crypto revival cools

  BLOOMBERG The crypto rebound is losing steam, leaving Bitcoin on course for its worst month since the FTX exchange collapsed in November 2022. The roughly 8% drop in May is Bitcoin’s first monthly retreat of 2023. A gauge of the top 100 digital assets has dropped by a similar magnitude. The largest crypto coin bounced 84% from the turn of ...

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• 31 May

  Hamdan bin Mohammed visits Thukhor Social Club for senior citizens

  

  DUBAI / WAM H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, accompanied by H.H. Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai, on Tuesday visited Thukhor Social Club, an initiative of the Higher Committee for Development and Citizens Affairs, located at Al ...

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