October, 2022

• 19 October

  UAE central bank issues commemorative coins to mark 30 years of Tawazun

  

    Abu Dhabi / WAM The Central Bank of the UAE (CBUAE) in collaboration with the Tawazun Economic Council (Tawazun), has issued 1000 silver commemorative coins to mark the 30th anniversary of Tawazun. The issuance of the commemorative coins aims to highlight the vital role of Tawazun, which was established in 1992 to create, build and manage industrial relationships for ...

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• 19 October

  GDRFA Dubai is steadfast in its quest for excellence

  

  Dubai / WAM The General Directorate of Residency and Foreigners Affairs Dubai (GDRFA Dubai) is steadfast in its quest for excellence through strategic plans and practical steps, which helped secure its position as a global leader. In an interview with the Emirates News Agency (WAM), Lt. General Mohamed Ahmed Al Marri, Director-General of GDRFA Dubai, said that the directorate has ...

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• 19 October

  Dubai-based Jebal al Ofoq eyeing major expansion

  

  Dubai / Gulf Time As the global pandemic has subsided the global market seems bullish. The cosmopolitan city of Dubai which is synonymous with the plush shopping malls, penthouses and real estate activity has returned to normal. As per the quarterly figures made available by the UAE central bank it is indicated that total real GDP increased by 8.2 percent ...

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• 18 October

  Another debt crisis on the 2023 Republican agenda

  

    The single biggest thing at stake in next month’s midterm elections has attracted only a sliver of the attention dedicated to subjects such as Dr Oz’s dog experiments, girls’ high school sports or Hunter Biden’s drug habit. The most important issue in this campaign is the Republican plan to reduce spending on popular social programs and jeopardize the full ...

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• 18 October

  Rakuten might need to phone a friend

  

  Hiroshi Mikitani, founder of Japanese e-commerce empire Rakuten Group Inc, is keeping investors on hold while his own fortune declines. Once ranked the 25th richest person in Asia, Mikitani no longer even features in the top 140, according to the Bloomberg Billionaires Index. It’s not hard to see why: Rakuten shares are trading near levels last seen in 2010 as ...

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• 18 October

  Is this the right way to pull back on Covid spending?

    By early next year, the US government will likely run out of money to pay for Covid-19 vaccines, tests and treatments. Although President Joe Biden has requested an additional $22 billion from Congress, Republicans are in no mood to continue splurging on the pandemic — not least because so much relief money has already been misspent. Shifting more costs ...

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• 18 October

  A $25bn grocery deal takes fight to Walmart

    It’s a deal which until recently was hard to imagine. Buying Albertsons Cos triggers major antitrust risks for any of its obvious industry suitors. But on Friday the US grocery chain agreed to be acquired by larger rival Kroger Co at a $25 billion enterprise value, with the duo outlining a seemingly cunning plan to assuage the competition authorities. ...

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• 18 October

  Airbus wins first third-party mission for Beluga cargo jet

  

  Bloomberg Airbus SE is poised to carry out its first cargo flights for an external client using a fleet of giant Beluga jets originally built to ferry wings between the planemaker’s European factories. The assignment with the model, named due to the resemblance of its domed fuselage to the white Arctic whale, will be performed before the end of this ...

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• 18 October

  Boeing 737 Max 7’s approval faces new tests from regulators

  

  Bloomberg Boeing Co. is getting new questions from US aviation regulators about the Max 7 aircraft, making it more likely the company will be unable to complete the certification process by late December and have to undertake a costly redesign. The Federal Aviation Administration (FAA) in a letter ordered the planemaker to study the impact of pilot performance on a ...

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• 18 October

  Lufthansa doubles 2022 profit forecast on surge in bookings

  

    Bloomberg Deutsche Lufthansa AG said full-year earnings will be twice as high as expected after higher ticket prices and a rebound in demand sparked an accelerated recovery from the coronavirus crisis. Germany’s flagship carrier now expects 2022 adjusted earnings before interest and taxes of more than €1 billion ($981 million), according to a statement. That compares with previous guidance ...

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