May, 2023

• 16 May

  UAE central bank imposes sanctions on eight lenders

  ABU DHABI / WAM The Central Bank of the UAE (CBUAE) imposed administrative sanctions on eight banks operating in the UAE, pursuant to Article 137 of the Decretal Federal Law No (14) of 2018 Regarding the Central Bank & Organisation of Financial Institutions and Activities, and the Central Bank notices regarding the beneficiaries of the Nationals Defaulted Debts Settlement Fund ...

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• 16 May

  Seatrade Maritime Logistics Middle East 2023 opens

  

  DUBAI / WAM The highly anticipated Seatrade Maritime Logistics Middle East, the leading shipping and maritime supply chain event in the region, commenced on Tuesday at the Dubai World Trade Centre under the patronage of the UAE Ministry of Energy and Infrastructure (MOEI UAE). As an integral part of the UAE Maritime Week, the conference and exhibition attracted renowned industry ...

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• 16 May

  Khan’s face off with Pakistan army escalates after arrest

  

  BLOOMBERG Since his ouster as prime minister in 2022, Imran Khan has played a high-stakes game of challenging Pakistan’s powerful military. Now it’s reaching a breaking point. Khan’s dramatic arrest by dozens of paramilitary rangers for graft triggered protests that left at least eight people dead and hundreds injured, risking more spasms of violence in a nation struggling to pull ...

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• 16 May

  Pressure mounts on Thai senators to back Pita’s premier bid

  

  BLOOMBERG Pro-royalist members of Thailand’s upper house are facing mounting pressure to back Pita Limjaroenrat as the country’s next premier, after the Move Forward leader staked a claim to form a coalition government of pro-democracy parties that swept the election. Hurdles have emerged in Pita’s path to power after some of the 250 unelected members of the Senate, stacked with ...

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• 16 May

  Taiwan’s opposition to pick Hou for president

  

  BLOOMBERG Taiwan’s main opposition party is set to nominate New Taipei City Mayor Hou Yu-ih as its candidate for next year’s presidential election, a person familiar with the situation said, as it seeks to wrest back power in a vote crucial to US-China ties. The Kuomintang is set to formally announce Hou as its choice to represent the party in ...

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• 16 May

  Stocks waver as US debt talks drag on

  

  BLOOMBERG Global markets were mixed on Tuesday, with US stock futures trading in a tight range ahead of debt-ceiling talks. A standoff over whether to raise the federal debt limit is sidelining many investors as they wait for a breakthrough in Washington. In Europe, Vodafone Group Plc shares sank on weak earnings and Telecom Italia SpA fell after a report ...

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• 16 May

  Wall Street touts Japan stocks as Topix hits highest since 1990

  

  BLOOMBERG Japan is fast becoming the most favoured developed market with investors as conviction grows that a rally taking the Topix to the highest since August 1990 will accelerate. Strategists at Goldman Sachs Group Inc to Macquarie Group Ltd say the case for a bull run is solid with corporate governance reforms set to boost valuation and loose monetary policy ...

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• 15 May

  Mansour bin Zayed attends opening of Middle East Rail 2023

  

  ABU DHABI / WAM His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Minister of the Presidential Court, attended the opening ceremony of the 17th Middle East Rail 2023, the region’s leading event for rail innovation, technology and strategy, on Monday at Abu Dhabi National Exhibition Centre (Adnec). The opening ceremony was attended by Jasem ...

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• 15 May

  Taqa reports AED11.6 billion net income for first quarter of 2023

  

  ABU DHABI / WAM Abu Dhabi National Energy Company (Taqa) on Monday reported a very strong first quarter for the period ending on March 31, announcing a net income (Taqa share) of AED11.6 billion, an increase of AED9.6 billion, mainly driven by a one-off gain recognised on the acquisition of a 5% shareholding in Adnoc Gas. It also announced group ...

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• 15 May

  Dubai chamber connects UAE, Uzbek renewable energy firms

  

  DUBAI / WAM Dubai International Chamber, one of the three chambers operating under Dubai Chambers, has brought together UAE-based company Empereal Ruby Energy and Innovations, and Uzbekistan’s Solar Nature to sign a memorandum of understanding for joint cooperation on solar photovoltaic and solar thermal projects in Uzbekistan and the Middle East. The programme aimed to drive the international expansion of ...

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