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ABUDHABI/ WAM Mohammed bin Ahmed Al Bowardi, Minister of State for Defence Affairs, said that Al Jundi magazine has firmly established its distinctive position on the map of leading media outlets in the United Arab Emirates. In a statement marking the magazine’s 50th anniversary, the minister said: “Al-Jundi has taken a prestigious place in the field of specialised military media, ...

ABU DHABI/ WAM Al Jundi magazine, published by the UAE Ministry of Defence, is celebrating its 50th anniversary, which falls on 1st October 2023. Coinciding with the release of its 597th issue for October 2023, Al Jundi has published a special commemorative edition to mark its golden jubilee, reflecting on the successes and achievements of the magazine over the past ...

DUBAI/ WAM Dubai Miracle Garden, the largest natural flower garden in the world, today opened its doors for visitors, marking a momentous 12-year anniversary for the renowned international attraction. The 12th season comes at the back of immense success last year, during which the garden provided families and children with the opportunity to celebrate the region’s biggest sporting event, the ...

BLOOMBERG The European Union’s probe into Beijing’s electric-vehicle (EV) subsidies is meant to protect its carmakers from a flood of cheap Chinese cars. But if it leads to tit-for-tat tariffs, Mercedes-Benz Group AG and BMW AG’s biggest moneymakers will be most exposed. For Germany’s high-end manufacturers, including Porsche AG, China has proven an insatiable market for their most expensive models, ...

BLOOMBERG One automaker is looming larger than any other in the investigation of electric vehicles flowing into the European Union from China: Tesla Inc. During the evidence-gathering that precipitated last month’s surprise announcement of an EU anti-subsidy probe into Chinese EVs, the US carmaker was among the companies found to have likely benefited, according to people familiar with the matter. ...

ABU DHABI / WAM In his capacity as Ruler of Abu Dhabi, His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, has issued a law establishing the Department of Government Enablement – Abu Dhabi. The objectives of the department are to provide Abu Dhabi Government entities services that enhance human capital and digitisation; deliver digital government services; ...

ABU DHABI / WAM The Central Bank of the UAE (CBUAE) and the Central Bank of Egypt (CBE) have on Thursday entered into a Bilateral Currency Swap Agreement between the UAE Dirham (AED) and the Egyptian Pound (EGP). The agreement, signed by Khaled Mohamed Balama, Governor of the Central Bank of the UAE, and Hassan Abdalla, Governor of the Central ...

ABU DHABI / WAM Institutional investors are optimistic about the UAE stock market, as evidenced by their net purchases of nearly AED 8 billion in local shares during the first nine months of 2023. This trend is driven by a number of factors, including the availability of broader investment opportunities, the strong growth trajectory of the national economy, and the ...

ABU DHABI / WAM Abu Dhabi Future Energy Company PJSC – Masdar, and PLN Nusantara Power (PLN NP), have signed an agreement to develop Phase II of the successful Cirata floating photovoltaic (FPV) power plant in Indonesia by up to 500MW, in a major expansion to Southeast Asia’s largest FPV plant. The signing ceremony was witnessed by UAE Minister of ...

BLOOMBERG Oil prices pushed closer to $100 a barrel, stoking expectations interest rates will stay higher for longer and keeping pressure on global markets. The US benchmark oil price briefly surpassed $95 a barrel for the first time in more than a year and Brent traded near $97 after a drop in stockpiles at a major storage hub underscored a ...