Dubai / WAM Dubai Chamber of Commerce and Industry revealed that it has achieved 100 percent smart transformation of its core services, marking a new milestone in the organisation’s digital transformation mission. By the end of 2020, 99.26 percent of the services and 659,000 transactions processed by the Chamber were digital, reflecting a rapid shift to digital adoption led by ...

Dubai / WAM Emirates Central Cooling Systems Corporation (Empower), announced that it has awarded contracts worth AED217 million in the first quarter of 2021 for various activities. The contracts were awarded majorly for the development of company’s district cooling infrastructure in Dubai, including the expansion of pipeline network, setting up semi-permanent plant rooms, establishing Thermal Energy Storage systems, Energy Transfer ...

President Joe Biden’s economic plans promise to split the US economy between industries that increase productivity and industries that provide mass employment. This is a reasonable response to the pressures the US is facing from changes in technology and the global economy. But it also risks creating social divisions between the people who work in the two types of industries. ...

India’s beleaguered blockchain industry has finally got some solid support to ensure its survival, with an influential industry evangelist evoking the vision of a billion smartphones acting as gateways to the brave new world of decentralised finance. In this world, Wall Street’s capabilities will be available to everyone, according to angel investor Balaji Srinivasan, formerly the chief technology officer at ...

Credit Suisse Group AG’s incoming Chairman Antonio Horta-Osorio inherits a firm reeling in both financial and reputational terms from its entanglements with Archegos Capital Management and Greensill Capital. There’s one decision that shouldn’t take long for him to make: Freeing the Swiss bank’s asset management unit to take advantage of the current hot market for money management firms. The division ...

What lessons can be drawn from the first 100 days of Brexit? Fewer than one might wish. The chaos of recent months underlines the difficulty, and maybe the pointlessness, of even trying to make forecasts amid such uncertainty. For a start, the pandemic has overwhelmed the short-term results of quitting the EU. All those calculations of the effects on Britain’s ...

Bloomberg Air Canada reached a deal with the Canadian government for loans and equity worth nearly C$5.9 billion ($4.7 billion), a package to help the airline get through the pandemic and restore flights to remote parts of the country. The state, which sold off its ownership interest in the 1980s, will once again own a piece of Canada’s largest airline, ...

Bloomberg London’s Heathrow faces opposition from some board members to its plan to raise 2.8 billion pounds ($3.8 billion) from airlines and customers by increasing airport prices, the Telegraph newspaper reported. Heathrow’s demands to change a complex regulatory framework so it could recoup losses caused by the pandemic have been rejected by the Civil Aviation Authority, the newspaper said. A ...

Bloomberg Wealthy people in Japan are turning to private jets in greater numbers as they seek to eschew crowded airports amid the ongoing coronavirus pandemic. The push means that ANA Holdings Inc.’s private jet charter business is expecting sales of 1 billion yen ($9 million) in the 2022 fiscal year, Jun Katagiri, the chief executive officer of ANA Business Jet ...

Bloomberg Airbus SE shook up its senior leadership, with the heads of its defense and technology units set to leave the company. Dirk Hoke, chief executive officer of the defense and space division, will pursue other opportunities and depart on July 1, the European planemaker said in a statement. He will be succeeded by Chief Operating Officer Michael Schoellhorn. Chief ...