November, 2022

• 24 November

  Dewa’s water reservoir in Hatta is 75.9% complete

    Dubai / WAM Dubai Electricity and Water Authority (Dewa) announced that the water reservoir project it is building in Hatta is 75.9% complete. The project has a storage capacity of 30 million imperial gallons (MIG) at a cost of approximately AED86 million. It is expected to be complete in April 2023. Saeed Mohammed Al Tayer, MD and CEO of ...

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• 24 November

  Yas Island to mark National Day with host of activities

    Abu Dhabi / WAM In celebration of UAE National Day, Yas Island Abu Dhabi will host a series of live entertainment and events every day from December 1-3. The celebrations will include an Ayallah performance across all Yas Island destinations including Ferrari World Abu Dhabi, Yas Waterworld and Warner Bros. World Abu Dhabi as well as CLYMB Abu Dhabi ...

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• 24 November

  Inclusivity is imperative to nation’s progress: VFS Global

  

    Dubai / Gulf Time The world is witnessing a game changer unravel in Saudi Arabia’s National Transformation Program (NTP) of Vision 2030, the action plan to incubate economic growth drivers from non-oil sectors. The global attention stems from two key differentiators anchoring Crown Prince and Prime Minister, His Royal Highness Prince Mohammed bin Salman Vision 2030- inclusivity and diverse ...

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• 24 November

  Foxconn offers staff $1,400 to leave after iPhone city violence

  

    Bloomberg Foxconn Technology Group has begun offering 10,000 yuan ($1,400) to any workers who choose to leave, an unusual decision intended to appease disgruntled new hires who played a central role in violent protests that rocked the world’s largest iPhone factory. Apple Inc.’s main global production partner said in an online notice the sum, to be paid out in ...

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• 24 November

  Singapore’s Treasury bills are a hot asset with near 4% yields

  

  Bloomberg Singapore’s Treasury bills saw strong demand at Thursday’s auction, with bids more than twice what was offered amid fierce bidding from retail investors and money-market funds. The city state sold S$4.8 billion ($3.5 billion) of six-month T-bills after drawing cumulative bids worth S$11.9 billion. The securities were sold at an average yield of 3.9% on Thursday, edging down from ...

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• 24 November

  Truckers in Korea strike in latest threat to global supply chains

  

  Bloomberg Truck drivers are on strike in South Korea for the second time in less than a year, targeting major ports in a bid to disrupt key exports from autos to petrochemicals. The strike began Thursday morning, with demonstrations at 16 sites across the country. The union, which represents 25,000 workers, didn’t disclose details of the work actions in a ...

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• 24 November

  Paytm loss widens

    Bloomberg Paytm, India’s leading digital payments brand, posted a wider second-quarter loss after it spent more to grow its business. The net loss in the July-September period swelled to 5.71 billion rupees ($69.7 million) from 4.73 billion rupees a year earlier, the company said on Monday. Revenue rose 76% to 19.14 billion rupees, while total costs increased 60% to ...

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• 24 November

  More Thai restaurants join Michelin list

    Bloomberg Five new fine-dining restaurants in Thailand have won the prestigious Michelin star ratings, adding to the Southeast Asian nation’s gastronomic appeal that may help cement a post-pandemic tourism recovery. Potong, which serves Thai-Chinese cuisine from a shop house that was once a pharmacy in Bangkok’s China town, and contemporary Thai restaurant Baan Tepa were among the five winners ...

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• 24 November

  Qantas boosts profit forecast as air travel rebound accelerates

  

  Bloomberg Qantas Airways Ltd. upgraded profit expectations for the final six months of 2022 just weeks after its initial forecast, highlighting the intensity of a demand rebound that has sent fares soaring. The airline’s shares jumped. The Australian airline said it expects underlying profit before tax in the period of between A$1.35 billion ($900 million) and A$1.45 billion. That’s A$150 ...

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• 24 November

  Airlines still see return to profit next year: IATA

  

    Bloomberg The airline industry remains likely to return to profit next year, with high employment levels and growth in key economies sustaining demand even as household bills spiral, the head of its main lobby group said. Carriers should achieve positive earnings in 2023 for the first time since 2019, before the coronavirus pandemic roiled global travel, International Air Transport ...

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