August, 2022

• 19 August

  Over 13.6mn people benefitted from Suqia projects in 37 nations

  

    Dubai / WAM More than 13.6 million people have benefitted from UAE Water Foundation (Suqia) projects in 37 countries by the end of 2021, Saeed Mohammed Al Tayer, Chairman of the Board of Trustees at Suqia UAE, stated ahead of the World Humanitarian Day 2022. Al Tayer stated, “At the UAE Water Foundation (Suqia), under the umbrella of the ...

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• 19 August

  Ajman, Mexico discuss ways to boost economic cooperation

    AJMAN / WAM Salem Al-Suwaidi, Director-General of the Ajman Chamber of Commerce and Industry (ACCI), received Luis Alfonso de Alba Góngora, Ambassador of Mexico to the UAE, to discuss economic cooperation and explore trade and investment opportunities between the two countries. Attended by Mohamed Ali Al Janahi, Executive Director of the Trade Development and International Relations at the ACCI, ...

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• 19 August

  EPG, DIFC FinTech Hive partner to promote technology innovation

  

    DUBAI / WAM Emirates Post Group (EPG) has signed a sponsorship agreement with FinTech Hive – the first and largest financial technology hub in the region and part of the Dubai International Financial Centre (DIFC) – to promote the first sprint this year of its FinTech accelerator programme, ‘HIVE 22.’ The agreement, signed by Abdulla Mohammed Alashram, Group CEO ...

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• 19 August

  Russia’s Ukraine war is how Soviet Union ends

  

  Wars that are caused by people can also be caused by deep historical processes. For proof, look at the fighting in Ukraine. That conflict is the doing of Russian President Vladimir Putin, a ruler determined to reassert Russia’s greatness by destroying an independent Ukraine. Yet it is also part of a bigger story about what happens when empires break up. ...

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• 19 August

  Target sees harder time than Walmart

  

  If Walmart Inc signalled better times ahead for the broader economy, Target Corp’s profit collapse is a reminder that battered big-box stores aren’t in the clear yet. Target laid bare the damage from marking down its mountain of inventory, with an almost 90% slump in second-quarter profits. That’s in stark contrast to Walmart’s forecast that earnings wouldn’t fall as much ...

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• 19 August

  The Fed shouldn’t get baited by stock traders

    Federal Reserve policy makers don’t have an explicit target for US stocks or consumer borrowing costs, but they know something’s off when they see it, and there’s a chance that now is one of those times. The S&P 500 Index has rallied 17% from its June lows through August 16, and consumer credit is growing at one of the ...

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• 19 August

  Biden’s new climate act may meet fierce foe

    It is not true that we need to gut our environmental protections in order to scale up green energy,” said Mahyar Sorour, deputy legislative director for Beyond Dirty Fuels at the Sierra Club. And thus goes the next chapter in the political war over whether and how the United States will join the battle against climate change. Unlike America’s ...

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• 19 August

  Target misses its lowest profit estimate, yet predicts rebound

  

  Bloomberg Target Corp is betting heavily on a dramatic financial comeback the rest of this year after badly trailing its own forecast as well as Wall Street’s estimates in the second quarter. The retailer stuck with its outlook for operating income of about 6% of sales during its fiscal second half after taking a painful hit from aggressive moves to ...

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• 19 August

  IAG’s Iberia Express crews to strike over pay

  

    Bloomberg Cabin crew staff of International Consolidated Airlines Group SA’s low-cost Spanish carrier Iberia Express plan to strike after talks over pay stalled. The USO union has called walkouts from August 28 to September 6 after failing to reach an accord with the company to link pay to inflation and then increase salaries, an official for the union said. ...

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• 19 August

  American bets on supersonic era, orders 20 Boom aircraft

  

    Bloomberg American Airlines Group Inc agreed to buy 20 Overture jets from Boom Supersonic, gambling that a market will emerge for a new generation of sleek aircraft that can cut transatlantic travel times by half. The world’s largest airline also has an option to purchase another 40 of the gull-winged jets that Boom plans to roll out by mid-decade, ...

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