Abu Dhabi / WAM The UAE is headed towards an exciting new phase of sustainable economic growth – one that is driven by an enhanced, technologically advanced and resilient industrial base. This is precisely the vision behind the recently launched comprehensive 10-year Industrial Strategy – known as Operation 300bn that aims to transform the industry into a vital enabler and ...

The cold war is back — or at least its rhetoric. US President Joe Biden wants to forge an “alliance of democracies” against the world’s “autocracies.” The New York Times isn’t alone in thinking that “the world is increasingly dividing into distinct if not purely ideological camps, with both China and the United States hoping to lure supporters.” This would ...

I expect Nike to have little trouble winning its lawsuit against MSCHF, maker of the Satan Shoe, a modified Nike Air Max 97. The footwear was developed in collaboration with the, um, entertainer Lil Nas X, who in his most recent video, as the New York Times deadpans, “gyrates on Satan’s lap.” The entire run of exactly 666 pairs (of ...

When Covid-19 first arrived last year, everyone’s go-to historical parallel was the 1918 influenza pandemic. Precisely because it was so fleeting, it’s hard to find evidence that it caused a sweeping reorientation of everyday life. In its wake, most people simply forgot what happened. Other global pathogens stayed longer and had much bigger impacts on society. Consider what followed the ...

If the February US jobs report signalled that America is truly rounding the final corner on the Covid-19 pandemic, then after a month of ramped up vaccinations and warmer weather, the latest data suggest that the world’s largest economy is now in an all-out sprint to herd immunity and a full reopening. US employers added 916,000 jobs in March, easily ...

Bloomberg Air Canada dropped its takeover of vacation operator Transat AT Inc because it couldn’t convince European regulators to approve the deal on acceptable terms. Canada’s largest airline said it offered a “significant package of remedies” to satisfy the European Commission’s concerns that the merger would reduce competition on flights between EU countries and Canada. “It has become evident, however, ...

Bloomberg Amazon.com Inc has explored opening discount retail stores selling a mix of home goods and electronics, a potentially significant expansion of the company’s growing portfolio of brick-and-mortar locations. The outlets would carry unsold inventory sitting in Amazon’s warehouses at steep discounts, according to two people familiar with the plans. The company has considered opening permanent stores, as well as ...

Bloomberg Italy’s bankrupt airline Alitalia SpA is running out of cash just as negotiations with the European Union to create a new national carrier are at a standstill. Alitalia, which has been under administration since 2017, paid its 11,000 workers only half their March salaries. The pandemic dealt the final blow to the loss-making airline that for years has been ...

Bloomberg Ryanair Holdings Plc is poised to begin flights with a new variant of the Boeing Co 737 Max jet after US regulators signed off on a model that’s set to cut costs by squeezing in almost 200 passengers. The discount carrier expects to take delivery of its first Max 200 this month, becoming the first operator of the plane, ...

Bloomberg GameStop Corp shares rose after the company named Elliott Wilke as chief growth officer, the latest in a string of senior executive appointments, and part of a corporate overhaul by activist investor and board member Ryan Cohen. In addition to Wilke, the video-game retailer also named Andrea Wolfe as vice president of brand development and Tom Petersen as vice ...