DUBAI / WAM In a move that further contributes to realising the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to make Dubai the world’s best city to live, work and visit, Dubai’s Department of Economy and Tourism (DET) has launched an online portal that ...

  Bloomberg Exxon Mobil Corp says an overnight fire at its Baytown, Texas, refinery that injured four people has been extinguished. The blaze occurred at 1 am local time at the plant, which is the fourth-largest in the US, capable of processing more than half a million barrels of oil a day. Gasoline trading in New York jumped as much ...

  George III was neither mad nor bad. The US Declaration of Independence filed 28 charges of misgovernment against the British king who lost the American colonies, but recent scholarship argues that his detractors on both sides of the Atlantic got him wrong. Far from being an enemy to liberty, George III was a sound constitutionalist and the first British ...

This could be the year when the global economy enters a new regime. No longer driven by minimal inflation in prices, negligible interest rates, steadily falling bond yields, growing inequality, and fantastic returns on asset prices, it’s possible that the return of rising prices in 2021 will at last force a new way of doing things. With inflation a serious ...

Two of the four horsemen of the apocalypse will keep us busy in 2022 as they did in 2021. One is plague — in our case the Sars-CoV-2 virus that keeps mutating. As predicted in March, people are in for a seemingly permanent struggle between us (science) and nature (evolution). People keep coming up with new and better vaccines, but ...

  As if the pandemic and rising inflation weren’t enough, Europeans face another source of wintry discontent: an energy crisis. A supply crunch has caused the price of power to hit record highs, just in time for the coldest season. It also risks exacerbating a worrying situation in Ukraine. With Russia massing forces on the border, Europe’s dependence on Russian ...

  Bloomberg The billionaire dynasty behind Selfridges & Co has sold the British department store operator to a Thai-Austrian joint venture for about 4 billion pounds ($5.4 billion) in one of the biggest UK retail deals in years. The Weston family said Central Group, which is owned by the Chirathivats, one of Asia’s wealthiest families, and Signa Holding of Austria, ...

  Bloomberg Chinese social media platforms erupted over allegations that Walmart Inc had stopped selling items from Xinjiang at its members-only grocery chain Sam’s Club in China, raising the risk that the world’s biggest retailer will be swept into escalating tensions between China and the US over the western province. Posts of screenshots showing no search results for the word ...

  Bloomberg Airlines’ US flight cancellations approached 1,900 for the Christmas weekend, disrupting travel on one of the busiest periods of the year as the Omicron-fueled wave of Covid cases triggered air-crew shortages. Saturday’s pullbacks erased at least 12% of the schedule at Delta Air Lines Inc, United Airlines Holdings Inc and JetBlue Airways Corp, according to data tracker FlightAware.com. ...

  Bloomberg CK Asset Holdings Ltd said it’s exiting the aircraft-leasing sector due to a “paradigm shift” caused by the coronavirus pandemic, selling two indirect wholly-owned subsidiaries to Maverick Aviation Partnership LP for $4.28 billion. The company is selling Accipiter Finance for about $2.44 billion and Manchester Aviation Finance for $1.84 billion, according to a filing to the Hong Kong ...