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DUBAI / WAM The Court of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, mourned the late HH Sheikh Saeed bin Zayed Al Nahyan, Abu Dhabi Ruler’s Representative, who passed away on Thursday. The following is the text of the statement: In the name of Allah, the Most Gracious, the Most Merciful.. ...

DUBAI / WAM Dubai Electricity and Water Authority (Dewa) has commissioned 676 11kV distribution substations across Dubai in the first half of 2023. The construction of the substations and jobs related to new customers resulted in a total of 505,684 man-hours, according to the highest standards of quality and efficiency. Saeed Mohammed Al Tayer, MD and CEO of Dewa, said, ...

CHENNAI / WAM Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and COP28 President-Designate and Simon Stiell, Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC), have called upon G20 nations to take a greater leadership role in climate change mitigation and adaptation. With only 125 days to go, the leaders on Thursday ...

ABU DHABI / WAM The Central Bank of the UAE (CBUAE) has decided to raise the Base Rate applicable to the Overnight Deposit Facility (ODF) by 25 basis points — from 5.15 to 5.40 percent, effective from Thursday. This decision was taken following the US Federal Reserve Board’s announcement on 26th July, 2023, to increase the Interest on Reserve Balances ...

DUBAI / WAM Emirates Islamic delivered its highest ever half-year net profit, with an exceptional jump of 73 percent to AED 1.2 billion during the first half of 2023. This record profit was driven by higher funded and non-funded income reflecting improved business sentiment. Strong operating performance on higher funded income and higher non-funded income. Total income up 71 percent ...

SHARJAH / WAM The President of American University of Sharjah (AUS) and the Chairperson of Sharjah Research, Technology and Innovation Park (SRTIP) was warmly received by the Group CEO of Beeah, Khaled Al Huraimel, and a distinguished Beeah delegation. Sheikha Bodour’s visit to Beeah group’s headquarters signified an important milestone, centred around collaborative efforts in education, research, and boosting the ...

BLOOMBERG Global equities surged on Thursday and the dollar retreated, as investors wagered the Federal Reserve has reached the end of its 16-month long policy-tightening cycle. The Stoxx Europe 600 index rose 1%, with almost all sectors gaining, and US futures pointed to a strong session on Wall Street. Contracts on the tech-heavy Nasdaq 100 were up 1.1%. The moves ...

BLOOMBERG A gauge of China tech shares traded in Hong Kong closed just shy of entering a technical bull market over expectations of further stimulus for the nation’s flagging economy. The Hang Seng Tech Index climbed 2.9%, extending gains from a May low to 19.7%. While shares had been lifted in recent months thanks to easing regulatory constraints and stimulus ...

ABU DHABI / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has mourned his late brother H.H. Sheikh Saeed bin Zayed Al Nahyan, Abu Dhabi Ruler’s Representative, who passed away on Thursday. The Presidential Court issued the following obituary: “In the name of Allah, the Most Gracious, the Most Merciful… With hearts faithful to God’s decree and destiny, ...

ABU DHABI / WAM H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs, Wednesday met with Ambassador Feridun Hadi SinirlioÄŸlu, UN-appointed Special Coordinator for the Independent Assessment of the Situation in Afghanistan. Held in Abu Dhabi, the meeting discussed the overall situation in Afghanistan, and prospects for cooperation between the UAE and the UN in this regard. Sheikh ...