October, 2022

• 3 October

  Creative industry’s contribution to UAE’s GDP to grow to 5% by 2031

  

    Abu Dhabi / WAM The Ministry of Culture and Youth participated in the Unesco World Conference on Cultural Policies and Sustainable Development – MONDIACULT 2022, which took place in Mexico. A delegation headed by Salem Al Qasimi, Permanent Delegate of the UAE to Unesco, represented the UAE at the conference, while Noura bint Mohammed Al Kaabi, Minister of Culture ...

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• 3 October

  Aafaq Islamic Finance names Hessa Al Ghurair as new chief human capital officer

  

    ABU DHABI / Gulf Time Aafaq Islamic Finance, a leading provider of innovative Islamic financial services and products, has announced the appointment of Hessa Al Ghurair as its Chief Human Capital Officer. Hessa will oversee the development and implementation of initiatives for enhancing Aafaq’s talent base and achieving the company’s business objectives through transformational tools and practices. An accomplished ...

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• 3 October

  UAE wins presidency of Asian Chess Federation

    Abu Dhabi / WAM Sheikh Sultan bin Khalifa bin Shakhbout Al Nahyan has won the presidency of the Asian Chess Federation by acclamation for a fifth term until 2026, after closing the door for candidacy for the elections without any competitor applying for the position of president. Sheikh Sultan dedicated the sports achievement to the wise leadership, the Emirati ...

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• 3 October

  Telal showcases diamond-decorated outfit for Emirati groom

  

    Dubai / Gulf Time This year, Telal Gents’ Fashion made an extraordinary development in the history of fashion fairs in the region by joining the Gulf Bride Show, a leading exhibition of luxury women’s fashion for wedding occasions in the region. The show was organised at Dubai World Trade Center from September 14-18. The participation of Telal Gents’ Fashion, ...

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• 3 October

  Truss can’t neglect Tory jitters after mini-budget

  

  It is said that the Conservative Party only has two modes — triumph and panic. Under Liz Truss, the new prime minister, the party has gone from the first to the second in record-breaking time (with a strange interregnum for Queen Elizabeth’s funeral). Chancellor of the Exchequer Kwasi Kwarteng’s mini-budget, or “fiscal event” as he termed it, was the worst-received ...

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• 3 October

  Bond doomsayers are a little premature

  

  The credit-market bears may well be vindicated if the US enters a recession in the next year, but it’s too early to go full-scale Armageddon with predictions about corporate bond spreads. For all the economic headwinds, US corporations started the year from a position of extraordinary financial strength thanks to opportunistic refinancing in 2020 and 2021 and strong cash reserves ...

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• 3 October

  Gilt market problems aren’t unique to the UK

    The Bank of England recently announced that it would enter the market to buy government bonds (known as gilts) with a remaining maturity of 20 years or more. Although the central bank insists that its actions are “temporary,” to restore “orderly” markets, it’s not really clear what either of those words mean. 1 It was only on Sept. 21 ...

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• 3 October

  Italy’s Giorgia Meloni has a mandate but little time

    Those disheartened by the election campaign run by Giorgia Meloni may think that the best thing about Italy’s incoming government will be its likely transience. Hers will be the country’s 70th government since World War II. But it would be wrong to conclude that Italian leaders don’t matter. To the contrary, Europe badly needs a stable Italy capable of ...

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• 2 October

  China’s rival aircraft to Boeing, Airbus jets wins certification

  

    Bloomberg China formally certified its homegrown aircraft to take on Boeing Co and Airbus SE in the highly lucrative market for narrowbody jets, according to the official Xinhua News Agency. The announcement of the certification of Commercial Aircraft Corp of China Ltd.’s C919 was made in Beijing, with President Xi Jinping and other high ranking Chinese government officials attending ...

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• 2 October

  Boeing’s 737 Max 7 at risk of missing key deadline, warns US

  

    Bloomberg US aviation regulators warned Boeing Co. that its 737 Max 7 model is at risk of missing a key deadline later this year, potentially forcing the planemaker to carry out an expensive and complex redesign of the aircraft. The Federal Aviation Administration’s chief of aircraft certification told Boeing that the agency had approved less than 10% of the ...

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