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  Abu Dhabi / WAM The Ministry of Industry and Advanced Technology (MoIAT) has reduced the fees for 14 main and sub services and waived the fee for one service as of January 1. The move aligns with the objectives of the ‘’Make in the Emirates” initiative to create an attractive business environment for local and international investors and support …

  Abu Dhabi / WAM The UAE’s Capital will host the 2023 Fortune Global Forum from November 27-29, for the first time in the Middle East and North Africa (Mena), the Abu Dhabi Department of Economic Development (Added) announced. Held under the theme ‘A New Era for Business’, the forum will address global agendas currently including market and trade dynamics, …

Abu Dhabi / WAM The UAE’s Edge group has announced a strategic investment in High Lander, the company behind Universal UTM, a drone-agnostic unmanned traffic management solution which provides the automation, coordination, and safety much needed in increasingly crowded skies. The $14 million investment creates a ground-breaking partnership and is already forging ongoing deals and high-value opportunities in both the …

Abu Dhabi / WAM Khalifa Economic Zones Abu Dhabi (Kezad) group announced that it has signed an agreement with Emerging World FZC, the sole importer of Pran-RFL Group’s products in the Middle East region, to establish a Programme for Rural Advancement Nationally (Pran) manufacturing plant catering to local and regional markets. The AED 110 million facility, developed in multiple phases, …

Dubai / WAM The General Pension and Social Security Authority (GPSSA) on Tuesday launched the ‘Your Commitment Protects You’ campaign to spread awareness on inspection controls and guidelines. It has further highlighted the obligation of an entity towards abiding by inspection controls and guidelines, as well as unnecessary fines incurred on employers as a result of violating registration and monthly …

Bloomberg For the 8,000 people suffering from cystic fibrosis in the UK, Kaftrio is a miracle drug. For the cash-strapped National Health Service, it’s a foretaste of an unaffordable future. Costing £100,000 ($123,000) a year per patient, Kaftrio could add hundreds of millions of pounds to the £180 billion annual NHS bill, a new liability even as the service struggles …

  Bloomberg The private-sector economy in the euro area unexpectedly returned to growth at the start of 2023, offering further signs the region may avoid a recession and comforting the European Central Bank’s focus on underlying inflation risks. S&P Global’s flash Purchasing Managers’ Index rose to 50.2 in January, better than the 49.8 reading predicted in a Bloomberg survey and …

  Bloomberg British companies signaled output dropped at the fastest pace since the start of the pandemic as the government budget deficit widened to a record, adding to evidence that the economy probably has lurched into a recession. S&P Global said its index of sentiment from purchasing managers fell more sharply than expected in January, led by a deterioration in …

Bloomberg Chancellor Olaf Scholz’s cautious approach to sending Leopard battle tanks – or allowing other countries to export their own stocks of the German-made military vehicles – to Ukraine is confusing allies and creating splits within his own government. Three Baltic states over the weekend called on Germany as Europe’s leading power to quickly change course. An adviser to Ukrainian …

Bloomberg The Biden administration has confronted China’s government with evidence that suggests some Chinese state-owned companies may be providing assistance for Russia’s war effort in Ukraine, as it tries to ascertain if Beijing is aware of those activities, according to people familiar with the matter. The people, who asked not to be identified discussing private deliberations, declined to detail the …