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BLOOMBERG Government bonds slumped, wiping out early gains in US equity futures, as traders speculated central banks will keep interest rates elevated to quell inflation. The dollar hit its highest level since March. Germany’s 10-year yield rose to the highest since 2011 and the Stoxx 600 sank 0.6%, dragged down by mining shares. Rio Tinto Plc fell as much as ...

BLOOMBERG Healthcare stocks are heading for their worst annual performance relative to the broader market in almost 25 years as a new class of weight-loss drugs looks set to reorder the market for a host of existing profitable treatments. The group — which includes the likes of Pfizer Inc and CVS Health Corp — is one of the worst performers ...

BLOOMBERG European Central Bank (ECB) President Christine Lagarde reiterated that borrowing costs will remain elevated for as long as needed to tame consumer prices — even as the economy struggles. “Our future decisions will ensure that the key ECB interest rates will be set at sufficiently restrictive levels for as long as necessary,” Lagarde told lawmakers in the European Parliament. ...

AJMAN / WAM HH Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman, issued Emiri Decree No 9 of 2023 regarding the establishment of the Ajman Government Media Office. The establishment of the office aims to boost the emirate’s stature and its media identity and reach globally, and reinforce transparency by providing accurate and reliable information ...

SHARJAH / WAM HH Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah and President of the University of Sharjah, oversaw the signing of a memorandum of understanding (MoU) between the University of Sharjah and the Sharjah Health Authority. The MoU signing took place at the Sharjah Academy for Astronomy, Space Sciences and Technology (SAASST). The MoU ...

ABU DHABI / WAM The Ministry of Industry and Advanced Technology (MoIAT) has announced the mandatory use of digital national identity “UAE Pass” for clients and companies to access MoIAT’s industrial standards, conformity and national accreditation services via website or smartphone app. The initiative contributes to the UAE’s digital transformation targets and aligns with the National Strategy for Industry and ...

TOKYO / WAM Dr Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, COP28 President-Designate, UAE Special Envoy for Climate Change and Special Envoy of the UAE to Japan, paid a working visit to Japan during which he chaired the first ministerial meeting of the comprehensive strategic partnership between the two countries. Dr Al Jaber engaged in numerous bilateral ...

ABU DHABI / WAM Zayed Higher Organisation for People of Determination (ZHO) signed a Memorandum of Understanding with Zayed Search and Rescue Volunteer Team (ZSRVT) on enhancing means of cooperation in environment, health and safety, by coordinating efforts to provide support in the therapeutic diving programme, environmental campaigns, training and swimming for People of Determination. The MoU was signed by ...

CAIRO / WAM The Ministry of Economy (MoEc), represented by the Intellectual Property (IP) sector, has participated in the 11th Intellectual Property Technical Committee meeting held by the Intellectual Property and Competitiveness Department of the League of Arab States in Cairo. The meeting was attended by several government officials from the IP sector of Arab countries. Dr Abdulrahman Hassan Al ...

TOKYO / WAM Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and COP28 President-Designate, met with Japanese Prime Minister Fumio Kishida during his working visit to Tokyo. The meeting follows the outcomes of the Japanese Prime Minister’s visit to Abu Dhabi last July and discusses the latest developments in bilateral relations, initiatives, and projects and ways ...