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  Abu Dhabi / WAM Abu Dhabi National Oil Company (Adnoc) announced on Wednesday the award of a $946 million (AED3.47 billion) Engineering, Procurement, and Construction (EPC) contract for the strategic long-term development of its Umm Shaif field. The investment supports Adnoc’s oil production capacity plans of five million barrels per day (mmbpd) by 2030 while ensuring energy security for ...

  Abu Dhabi / WAM Dr Ahmad Belhoul Al Falasi, Minister of State for Entrepreneurship and SMEs, representing the UAE, participated in the UAE-US Innovation and Investment Summit. The summit was aimed at exploring more cooperation opportunities in the next phase to expand and develop UAE-US trade exchanges and mutual investments with greater participation of private sector companies from both ...

  Abu Dhabi / WAM ADQ, one of the region’s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy, on Wednesday entered into an agreement to consolidate several companies within Pure Health, creating the largest healthcare provider in the UAE. As part of the agreement, Abu Dhabi Health Services Company (Seha), ...

  DUBAI / WAM A total of 62 countries will be represented on the exhibition floor of the 2022 edition of Arab Health, the Mena region’s leading exhibition for the healthcare industry, taking place at the Dubai World Trade Centre from January 24 – 27. The 2022 edition of the show, which returns as a co-located event for the healthcare ...

  DUBAI / WAM Dubai Electricity and Water Authority (Dewa) launched the Real-Time Mobile Work Force Project to improve productivity and fieldwork efficiency. This is part of its efforts to enhance the happiness of its employees and help them complete their tasks easily and efficiently, anytime and anywhere. The project includes 109 processes related to Distribution Power; Water and Civil; ...

  Bloomberg German energy giant Uniper SE was forced to borrow billions to pay down margin calls — the collateral that exchanges require to back up trades — as European gas and electricity prices rallied. Uniper got additional loans totaling 10 billion euros ($11.3 billion) from its Finnish parent Fortum Oyj and KfW IPEX-Bank, the company said in a statement ...

  Bloomberg North Korea appears to have launched its first ballistic missile in about two months, after leader Kim Jong-un indicated he was more interested in bolstering his arsenal than returning to stalled nuclear talks with the US. North Korea fired what appeared to be a ballistic missile from land into waters off its east coast Wednesday, South Korea’s military ...

  Bloomberg President Joe Biden promised to “fight for fairer prices” for farmers and consumers as he announced plans to combat the market power of the giant conglomerates that dominate meat and poultry processing. “Capitalism without competition isn’t capitalism, it’s exploitation,” Biden said. “That’s what we’re seeing in meat and poultry.” Biden joined Agriculture Secretary Tom Vilsack and Attorney General ...

  Bloomberg German joblessness continued to fall in December before the country tightened restrictions to ward off a wave of infections sparked by the omicron variant. Unemployment in Europe’s largest economy falls by 23,000, beating economists’ forecast for a drop of 15,000. The jobless rate slid to 5.2%. “The labour market developed well towards the end of the year,” said ...

  Bloomberg The surge in euro-area inflation that surprised policy makers in recent months is close to its peak, according to European Central Bank (ECB) Governing Council member Francois Villeroy de Galhau. A report on French consumer prices in December shows the first signs of stabilisation and the ECB expects upward pressures to fade through 2022, the French central bank ...