May, 2023

• 19 May

  Mubadala invested $29.14b in industries focussing on future

  

  ABU DHABI / WAM Mubadala Investment Company has released its 2022 financial results for the group. Despite a challenging macroeconomic environment in 2022 that significantly impacted financial markets and investor sentiment, Mubadala outperformed global benchmarks, supported by active management of its portfolio, robust capital deployment and a considered monetisation programme. Mubadala invested AED107 billion ($29.14 billion) in line with its ...

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• 19 May

  Sheikh Mansour meets Syrian President

  

  JEDDAH / WAM His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, and Minister of the Presidential Court, held a meeting on Friday with President Bashar al-Assad of Syria on the sidelines of the 32nd Arab League Summit. During the meeting, they exchanged cordial talks that reflected the strong fraternal relations between the two countries and ...

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• 19 May

  Wall Street built a $370 billion business cloning quant trades

  

  BLOOMBERG Deep in the bowels of Wall Street there’s a surprisingly successful counterfeiting operation underway: The world’s largest banks have created a booming business churning out imitation quant trades. JPMorgan Chase & Co, Goldman Sachs Group Inc and Morgan Stanley are among those hawking the products, which are known by the deceptively dreary name “quantitative investment strategies” (QIS). It’s the ...

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• 19 May

  Adani stocks reduce weekly losses on relief from court panel report

  

  BLOOMBERG Shares of Adani Group companies rallied, trimming their losses for the week, after a panel appointed by India’s Supreme Court found no conclusive evidence of stock price manipulation as alleged by US short-seller Hindenburg Research. Flagship Adani Enterprises Ltd surged 3.5% on the court findings. Other group entities like Adani Transmission Ltd, and Adani Power Ltd closed higher by ...

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• 19 May

  UAE President sends written letter to Sultan of Oman with invitation to COP28

  

  ABU DHABI / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan, sent a written letter to Sultan Haitham bin Tariq of Oman, which included an invitation to the Conference of the Parties to the UN Framework Convention on Climate Change (COP28), which will take place at Expo City Dubai this November. The message was delivered by Mohammed bin ...

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• 18 May

  Hamdan bin Mohammed, Maktoum bin Mohammed visit Emirates Group Headquarters

  

  DUBAI / WAM H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, on Thursday visited the Emirates Group Headquarters. Sheikh Hamdan was accompanied by H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance. Their Highnesses, who were received by ...

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• 18 May

  UAE cabinet appoints Mariam bint Mohamed bin Zayed Al Nahyan as Vice-Chairperson of Education and Human Resources Council

  

  ABU DHABI / WAM The UAE cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, issued a decision appointing HH Sheikha Mariam bint Mohamed bin Zayed Al Nahyan as Vice Chairperson of the Education and Human Resources Council. Her Highness Sheikha Mariam is Chairperson of the ...

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• 18 May

  UAE condemns storming of Al-Aqsa Mosque

  

  ABU DHABI / WAM The UAE strongly condemned the storming of Al-Aqsa Mosque by a member of the Israeli government, members of the Knesset, and extremists under the protection of the Israeli police. The Ministry of Foreign Affairs and International Cooperation (MoFAIC) underscored the need to respect the role of the Hashemite Kingdom of Jordan over the holy sites and ...

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• 18 May

  AD Ports to develop advanced port, terminal infra in Karachi

  

  KARACHI / WAM A high-level United Arab Emirates delegation, headed by Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, visited Karachi to meet with Faisal Sabzwari, Federal Minister for Maritime Affairs of Pakistan. The delegation comprised senior representatives from various sectors. AD Ports Group is the leading global facilitator of trade, logistics, and industry. ...

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• 18 May

  Etihad Airways cuts carbon emissions per RTK by 26%

  

  ABU DHABI / WAM Etihad Airways, the national airline of the UAE, in its annual sustainability report, detailed the company’s commitment to sustainability and its progress towards its sustainability goals. In 2022, the airline achieved an impressive 26 percent reduction in CO2 emissions per revenue tonne kilometre (RTK) to 482 grams compared to 2019 baseline. Etihad’s sustainability strategy is based ...

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