Abu Dhabi / WAM Lt General Hamad Mohammed Thani Al Rumaithi, Chief of Staff of the UAE Armed Forces, stressed that Commemoration Day is meant to honour noble human principles, noting that the UAE’s martyrs sacrificed their lives for righteousness and helped needy people. In a statement to the “Nation Shield” magazine on Commemoration Day, he said, “The occasion is ...

Abu Dhabi / WAM The Abu Dhabi National Exhibition Centre (Adnec) will host the first edition of the ‘Auto Moto’ exhibition in October 2022, attracting major international companies specialising in manufacture of car and bicycle equipment. The event will also showcase the latest technologies in the sector. The hosting events comes as part of a strategic agreement between the event’s ...

Bloomberg Activist hedge fund Bluebell Capital Partners has asked Glencore Plc to separate its thermal coal business because it has become a barrier to investment. The hedge fund firm said that the commodities giant could realise more value for shareholders if it separates that business, simplifies its asset base, disposes of non-core asset Viterra, and tackles governance issues. Bluebell’s partners ...

Bloomberg Enel SpA plans to invest 170 billion euros ($191 billion) this decade to accelerate its shift to greener energy sources. The strategy indicates a 6% increase from the previous investment plan, documents published showed. It also brought forward its net zero commitment by 10 years, from 2050 to 2040. Enel is the latest energy company in Europe to reveal ...

Bloomberg South Africa’s Mineral Resources and Energy Minister Gwede Mantashe said Eskom Holdings SOC Ltd is delaying emergency power projects that would have started generating 1,996 megawatts of electricity by next August, City Press reported. The state-owned utility hasn’t approved 11 generation projects that are intended to provide power supplies when the national grid is vulnerable, the newspaper reported, citing ...

Supposedly, US President Joe Biden’s “Summit for Democracy” — which begins on December 9 — would show America was back as leader of the free world. Unfortunately, the Biden administration isn’t big on either thoughtfulness before the fact, or justification after. And in many parts of the world, including here in South Asia, the summit is likely to do more ...

After years of stumbles and underperformance, Twitter co-founder Jack Dorsey is finally stepping aside as chief executive. The long-awaited move creates an opportunity for the social media platform to regain its footing, but there is much to be done. The company’s board announced that Twitter veteran Parag Agrawal, who has served as chief technology officer since 2017, will succeed Dorsey ...

More than a decade after Lloyd Blankfein, then-boss of Goldman Sachs Group Inc, claimed banks do “god’s work,” the finance industry still struggles to convince the public it’s a force for good. A new chapter in this debate has erupted in Europe where hedge funds and national governments can’t agree on what constitutes “good” financial speculation. Funds who bet that ...

Since the summer, it’s not been a fun time to be a central banker: What with not-so-transitory inflation playing havoc with official targets and leading to some pretty terrible attempts at forward guidance. Let’s look at Bank of England (BOE). But the Old Lady of Threadneedle Street has not been the only major institution struggling to chart a clear course ...

Bloomberg EasyJet Plc said the omicron variant of Covid-19 is impacting short-term demand but hasn’t yet derailed a recovery in air travel. The UK discount carrier has reined in capacity plans for the current quarter as some customers with reservations delay flying and others put off booking, it said in a statement. Demand for city-to-city flights has taken the biggest ...