October, 2022

• 4 October

  DMCC named Global Free Zone of the Year once again

    Dubai / WAM DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – has been named Global Free Zone of the Year 2022 by the Financial Times’ fDi Magazine for the eighth consecutive year. The award, among the most prestigious of accolades a free zone can earn, is decided by the ...

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• 4 October

  Tadweer produces 1mn tons of products recycled from waste

  

    Abu Dhabi / WAM Abu Dhabi Waste Management Centre (Tadweer) announced that it has produced more than 1 million tonnes of products recycled from waste materials collected in the emirate of Abu Dhabi during the first half of 2022. This comes in line with Abu Dhabi’s strategy to promote sound waste management and recycling, and its aim to convert ...

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• 4 October

  Abu Dhabi upgrades parking payments to 5G smart system

  

    ABU DHABI / WAM In a move that improves the quality of services provided to customers and enhances the efficiency of the public parking system, the Integrated Transport Centre (ITC) of the Department of Municipalities and Transport (DMT) in Abu Dhabi, has announced the commencement of upgrading of all parking payment machines to a 5G smart system. The system ...

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• 4 October

  Is it too late for Truss to repair the damage?

  

  First impressions count, especially when it comes to economic policy. UK Prime Minister Liz Truss and Finance Minister Kwasi Kwarteng last week announced a fresh start for the country with a big shift in fiscal policy — and hit the ground face first. Their plan has crashed the pound, wrecked the government bond market, and destroyed the Bank of England’s ...

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• 4 October

  Welcome to the scary inflationary world

  

    The world looked on in horror last week as the UK’s market collapse prompted the Bank of England to reverse its plans for quantitative tightening with a spectacular intervention in the gilt market — “on whatever scale is necessary” — to save the nation’s pensions system. So far, this appears to be a uniquely British debacle. But what if ...

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• 4 October

  Bond markets nearing a painful inflection point

    This week’s bond meltdown has sent the mean 10-year borrowing cost for Group of Seven countries to its highest in more than a decade, with the average yield surging above 3%. What happens next could set the tone for financial markets and the global economy for years to come. And your guess is as bad as mine as to ...

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• 4 October

  Ian is a wake-up call on costs of climate paralysis

    After a sleepy start to the North Atlantic hurricane season, Ian jolted us all awake. The storm tore through the Carolinas and beyond. But all we can see at the moment is the devastation left behind in Florida. At least 15 people have been confirmed dead, some 2.6 million homes and businesses are without power and two bridges have ...

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• 4 October

  United Air to exit JFK airport after dispute over expansion

  

  Bloomberg United Airlines Holdings Inc. plans to suspend service at New York’s John F. Kennedy International Airport, following through on a threat earlier this month to halt flights if regulators don’t allow the carrier to expand there. The decision will only affect four daily flights. The carrier’s New York-area presence is largely concentrated at nearby Newark Liberty International Airport in ...

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• 4 October

  Russia loses seat on council of UN civil aviation agency

  

    Bloomberg Russia has lost its seat on the governing council of a UN agency that supports the cooperation and coordination of civil air travel among 193 countries. Russia failed to get enough support to keep its seat on the 36-member governing council of the International Civil Aviation Organisation, or ICAO, according to results. A spokesman for ICAO did not ...

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• 4 October

  Walmart, CVS face suits blaming common painkiller for autism

  

    Bloomberg Dozens of lawsuits are challenging the long-standing belief that pregnant women can safely take acetaminophen, an over-the-counter drug used in Tylenol and generic pain medications. Women have filed 87 complaints in seven states against sellers of store-branded pain relievers, including Walmart Inc., CVS Health Corp. and Walgreens Boots Alliance Inc. Citing new studies linking the drug to increased ...

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