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VIENNA / WAM The Opec Fund for International Development (Opec Fund) has entered into two separate loan agreements worth $20 million each with Acwa Power. The funds will be used to support the construction and operation of two wind power plants — the 500 MW Dzhankeldy wind farm and the 500 MW Bash wind power plant, located in the Bukhara ...

NEW DELHI / WAM The Asian Development Bank (ADB) has projected growth in India’s gross domestic product (GDP) to moderate to 6.4% in fiscal year (FY) 2023 ending on March 31, 2024 and rise to 6.7% in FY2024, driven by private consumption and private investment on the back of government policies to improve transport infrastructure, logistics, and the business ecosystem. ...

ABU DHABI / WAM Abu Dhabi University (ADU) and Sky News Arabia Academy (Snaa) signed a cooperative memorandum of understanding (MoU) to offer the College of Arts and Sciences students comprehensive knowledge, understanding, and skills to excel in the field of mass communication. The main aim of the MoU is to train future media professionals in the fields of TV, ...

DUBAI / WAM Dubai International Financial Centre (DIFC) has welcomed several prominent wealth and asset management (WAM) firms, bringing the total number of WAM companies in the centre to over 300. This milestone reinforces DIFC’s position as the leading financial centre for WAM companies in the Measa region. With an industry size of $450 billion, DIFC’s 300 WAM firms represent ...

ABU DHABI / WAM Mubadala Health and Emirates Medical Association (EMA), a non-profit organisation represents physicians and allied health professionals in the UAE, signed a memorandum of understanding (MoU) to collaborate and advance medical education and research opportunities in the UAE. The MoU signing is a significant milestone for both entities and contributes to the strengthening of the Abu Dhabi ...

DUBAI / WAM The Ministry of Climate Change and Environment has signed a memorandum of understanding (MoU) with Essa Al Ghurair Investment LLC, as part of a collaboration on the ministry’s National Carbon Sequestration Project. Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment, and Essa Abdullah Al Ghurair, Chairman of the Board of Directors of Essa Al ...

BLOOMBERG Amsterdam’s Schiphol airport has a lot to boast about — the best direct flight connectivity across Europe, a terminal layout that’s easy to navigate, and an underground railway station that links it to major cities across Europe. Now a proposal for a capacity cap to minimise noise stands to dim the allure of one of Europe’s prime hubs. The ...

BLOOMBERG French skincare giant L’Oréal SA has agreed to acquire luxury cosmetics brand Aesop, which was founded in Melbourne before developing a cult global following, for an enterprise value of $2.53 billion. The transaction caps months of negotiations as other companies, including private equity firm Permira and Chinese investment firm Primavera Capital also showed interest in the Australian brand, owned ...

BLOOMBERG McDonald’s Corp is temporarily closing its US offices as it notifies hundreds of corporate employees that they’re losing their jobs in a broader restructuring plan, according to a person familiar with the matter. The company is notifying affected employees virtually and will close the locations to provide confidentiality out of respect for those affected, said the person, who asked ...

BLOOMBERG Apple Inc is eliminating a small number of roles within its corporate retail teams, according to people with knowledge of the matter, marking its first known internal job cuts since it embarked on a belt-tightening effort last year. The company is shedding positions in what it calls its development and preservation teams, said the people, who asked not to ...