October, 2022

• 19 October

  UAE ranks 25th globally in pension system: Report

  

  Abu Dhabi / WAM A Mercer Institute report focused on measuring global pension indicators revealed that the UAE is ranked 25th in its annual study, which included 44 global pension systems, equivalent to 65 percent of the world’s population. The report monitored relevant indicators regarding retirement income systems around the world, and highlighted several proposals that could contribute to providing ...

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• 19 October

  New marine service station opens in Al Hamriya Port

  

    Dubai / WAM Enoc group on Wednesday announced the opening of a new marine service station in Al Hamriya Port, Dubai, making it the eighth marine service station in the emirate. Al Hamriya port is a cargo gateway to Dubai. The port is well known for its flexibility, being able to berth different kinds of vessels from traditional dhows ...

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• 19 October

  flydubai launches flights to Osh, Kyrgyzstan

    Dubai / WAM flydubai has announced the launch of flights to Osh in Kyrgyzstan starting November 3 with a twice-weekly service, becoming the first UAE carrier to operate direct flights from Dubai. The addition of flights to Osh makes it the second point in Kyrgyzstan including the capital, Bishkek. With the launch of operations to Osh, flydubai expands its ...

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• 19 October

  marhaba expands airport lounge offering in Dubai

  

    Dubai / Gulf Time marhaba, part of dnata, continues to expand its lounge offering as passengers increasingly look for quality airport hospitality services to boost their travel experience. marhaba has re-opened a newly-refurbished lounge at Dubai International’s (DXB) Terminal 3. Located at Concourse ‘C’, the newest marhaba lounge features contemporary Arabic influences, enhanced buffet area. It offers comfortable seating ...

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• 19 October

  Will Joe Biden run again? Democrats need answer

  

  The midterms are coming, and with them, the pressure is building on President Joe Biden to let everyone know whether he is running in 2024. In a normal presidential election cycle, we would be about to hit the two-year mark in the “invisible primary.” That’s the period before voters get involved, in which candidates seek the support of key party ...

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• 19 October

  Banks should send Powell a thank-you note

  

    Shareholders and chiefs of America’s big banks should get some thank you cards over to Jerome Powell. The Federal Reserve’s interest rate increases have delivered a huge boost to revenue for Citigroup Inc., JPMorgan Chase & Co. and Wells Fargo & Co. so far this year without – as yet – causing any problems for borrowers. Okay, the residential ...

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• 19 October

  Forget overkill. Central banks still way behind

    Expectations of how much central banks will push interest rates higher to get inflation under control have increased to such an extent that some are starting to talk about overkill. Markets now think that benchmark rates in the US will top out at about 4.7% (from 3.25% now), 3% in the euro zone (from 1.25%), and 5.8% in the ...

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• 19 October

  No respite for the Federal Reserve on high inflation

    If the Federal Reserve was hoping for some sign that inflation is subsiding, it was cruelly disabused by the latest figures for consumer prices. The headline rate fell back slightly in September, from 8.3% to 8.2%, but the more telling measure of core inflation, which excludes the cost of food and energy, reached the highest rate in 40 years, ...

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• 19 October

  China’s biggest airlines plan more international flights

  

    Bloomberg China’s biggest airlines are planning more international flights, a sign the government is aware of the country’s growing isolation as it persists with lockdowns and mass testing internally — hallmarks of its Covid Zero policy. China Eastern Airlines Corp., which was severely impacted by virus lockdowns in Shanghai, will operate 108 international flights a week from October 30 ...

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• 19 October

  Bill Gates-led fund to make green jet fuel as cheap as fossil fuels

  

  Bloomberg The burgeoning market for sustainable jet fuel will soon reach a milestone, with a plant capable of turning out for the first time a lower-emission fuel at the same price as fossil fuel-based options. But this price parity will only come as result of a $50 million grant from Bill Gates-led Breakthrough Energy, alongside support from discounted loans and ...

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