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Bloomberg Argentina will allow foreign tourists to transfer dollars into a local account and exchange them to pesos at a more lucrative parallel exchange rate, bypassing capital controls in a bid to lure travelers. Tourists traveling from abroad can open a temporary bank account in Argentina before their trip and transfer up to $5,000 into the country, the central bank ...

Bloomberg US employment costs rise at the fastest pace on record in the third quarter as companies across a variety of sectors raised wages against a backdrop of labour shortages. The employment cost index, a broad gauge of wages and benefits, rise 1.3% from prior quarter, according to Labour Department data. The gauge increased 3.7% from a year earlier. Compensation ...

ABU DHABI / WAM The Abu Dhabi National Exhibitions Company (Adnec) announced on Wednesday the launch of its plan for expanding the facilities and infrastructure of the group’s centres in Abu Dhabi and London, in a step that will significantly contribute to reaffirming its leading global position in the business tourism sector. The expansion plans will boost Adnec’s competitiveness and ...

Abu Dhabi / WAM Hub71, Abu Dhabi’s global tech ecosystem, has selected its new cohort of startups to join its community in the UAE capital. Hub71 is increasing market access for founders worldwide to join and partner with Abu Dhabi’s rapidly growing tech ecosystem, which is now ranked in the top 10 startup ecosystems worldwide, according to Startup Genome. The ...

Dubai / WAM The UAE has successfully become an established space player, an international space advocacy organisation said on Wednesday. Speaking with the Emirates News Agency (WAM), Pascale Ehrenfreund, President of the International Astronautical Federation (IAF), said the space sector has become extremely vibrant as more emerging countries and commercial players are entering it. “I think the UAE is not ...

ABU DHABI / WAM The UAE has adopted state-of-the-art technologies to ensure the sustainability of water resources that are mainly fed by precipitation, as part of the country’s leading role in tackling the most pressing global issues that demand urgent action including water security. Cloud seeding plays a crucial role in reengineering the planet earth through mitigating drought, enhancing water ...

Bloomberg China condemned the US’s latest overture towards Taiwan, warning that ties between the two countries faced “huge risks” just weeks after Presidents Joe Biden and Xi Jinping agreed to hold a video summit. US Secretary of State Antony Blinken’s call for greater participation by Taiwan in UN organisations violated the “one China” understanding between Beijing and Washington, Foreign Ministry ...

ABU DHABI / WAM HH Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Member of the Abu Dhabi Executive Council, Chairman of the Abu Dhabi Executive Office and Chairman of the Executive Committee of Adnoc’s Board of Directors, has launched a landmark clean energy partnership between the Abu Dhabi National Oil Company (Adnoc) and Emirates Water and Electricity Company (EWEC). ...

Dubai / WAM Abdullah Ali Ateeq Al Sabousi, UAE Ambassador to Australia, has said that Expo 2020 Dubai promotes international cooperation in drafting a global action plan to achieve sustainable development. In an interview with the Emirates News Agency (WAM), Al Sabousi highlighted the importance of the UAE’s hosting of Expo, a platform for promoting the country’s overall capacities and ...

DUBAI / WAM Dubai CommerCity, the first and leading e-commerce free zone in the region, has signed a strategic Memorandum of Understanding (MoU) with Mashreq, one of the leading financial institutions in the UAE. The MoU aims to offer small to medium enterprises (SME) with the ideal ecosystem for setting up their e-commerce business, through providing them with access to ...