October, 2022

• 17 October

  1 Billion Meals campaign distributes over 2.5 million meals in seven Asian nations

  

  Dubai / WAM The 1 Billion Meals initiative, the region’s largest food donation drive to support the underprivileged and undernourished in 50 countries across four continents, announced the completion of the distribution of more than 2.5 million meals across seven Asian countries, in collaboration with the Mohammed bin Rashid Al Maktoum Humanitarian and Charity Establishment (MBRCH). Organised by Mohammed bin ...

  Read More »
• 17 October

  ADJD’s Foreign Experts Court examines 200 cases

  

  Abu Dhabi / WAM The Foreign Experts Court of the Abu Dhabi Judicial Department (ADJD) has managed to maintain high adjudication rates in the cases brought before it over three years since it started operating in 2019, achieving a 90 percent disposition rate out of a total number of about 200 commercial cases submitted to its consideration, and totalling a ...

  Read More »
• 17 October

  Emirates A380 debuts in Bengaluru

    Dubai / Gulf Time Emirates’ flagship A380 made a landmark touchdown at Bengaluru’s Kempegowda International Airport, marking the first commercial flight to the South Indian city’s airport of the world’s largest passenger aircraft. The special service from Dubai to Bengaluru, operating as EK562 and greeted with a procession of follow-me vehicles, arrived ahead of the launch of scheduled A380 ...

  Read More »
• 17 October

  RTA announces operation of e-scooters in 11 new areas

  

  Dubai / WAM Mattar Al Tayer, Director-General, Chairman of the Board of Executive Directors, Roads and Transport Authority (RTA) announced the commencement of e-scooters operations in 11 new residential areas from the start of 2023. As such, the total number of districts in which e-scooters are permitted to operate increases to 21, and the total length of tracks dedicated to ...

  Read More »
• 17 October

  CEOs have a window for M&A bargain hunting

  

    A global economy plagued by high inflation and rising interest rates has tipped the competitive playing field in favor of US industrial companies, and some are taking advantage to make acquisitions. More should join the club — as long as they have a strong appetite for risk. US companies have a few clear tailwinds. The strong dollar helps with ...

  Read More »
• 17 October

  A China reopening can happen soon

  

  With China’s Covid-zero controls in overdrive, it’s hard to see light at the end of the tunnel. But every household has to balance its checkbook, including the Chinese government. Behind closed doors, when and how to reopen the economy must be on top of Beijing’s agenda. The upcoming party congress — a twice-a-decade event during which President Xi Jinping is ...

  Read More »
• 17 October

  Car industry is facing a big affordability crisis

    You know the auto industry has a giant affordability problem when a manufacturer unveils a concept car whose roof and hood are made from reinforced cardboard. The battery-powered Oli, shown last month by Stellantis NV’s Citroën brand, has a top speed of just 68 miles per hour (110 km) and weighs around 1,000 kg (2,200 lb). For once, the ...

  Read More »
• 17 October

  TSMC to world: We have no good news for you

    Executives at the world’s most important chipmaker made a valiant attempt at calming global nerves Thursday over the outlook for the semiconductor sector. But equipment suppliers and investors are unlikely to find much to cheer from Taiwan Semiconductor Manufacturing Co.’s third-quarter earnings. Net income at TSMC beat estimates, but that’s because the company has become a master at managing ...

  Read More »
• 17 October

  Kroger to buy rival grocery firm Albertsons for $24.6b

  

    Bloomberg Kroger Co agreed to buy Albertsons Cos in a deal with an enterprise value of $24.6 billion that would create a US grocery giant with almost 5,000 stores and annual revenue of about $200 billion. Investors will receive $34.10 for each share in Albertsons, which includes a special dividend, the companies said in a statement. That reflects a ...

  Read More »
• 17 October

  Eurowings pilots to stage three-day strike over workload dispute

  

  Bloomberg Pilots at Deutsche Lufthansa AG’s discount carrier will strike for 72 hours after Germany’s Vereinigung Cockpit union called Eurowings’ latest offer “completely insufficient.” The current dispute centers “exclusively” around a reduction of pilot workload and not pay for cockpit staff, according to a statement issued by the union. The employees “have no choice but to express their displeasure about ...

  Read More »