August, 2022

• 23 August

  Al Bateen Executive Airport reopens after major upgrade

  

    ABU DHABI / WAM Al Bateen Executive Airport has reopened following the successful completion of a major refurbishment project which will allow the airport to cater to increased operational demand while meeting the highest levels of safety, compliance, and accreditation. Close cooperation between the General Civil Aviation Authority (GCAA) and Abu Dhabi Airports (AD Airports) during the project followed ...

  Read More »
• 23 August

  European buyers snapping up most Russian crude since April

  

  ­­­Bloomberg Russia’s crude shipments surged last week, recovering almost all of the previous slump. Seaborne exports to European buyers rose to the highest level since April, as some refiners continue to process barrels, even after Moscow’s invasion of Ukraine. Total flows rise to 3.41 million barrels a day in the period to August 19, vessel-tracking data monitored by Bloomberg show. ...

  Read More »
• 23 August

  UK energy bills for average household to hit $4,200 a year

    Bloomberg British households will see the average energy bill soar to $4,200 a year in October when the UK next raises a cap on prices, according to consultancy Cornwall Insight Ltd. The forecast confirms other recent estimates that bills will rise about 80% this winter compared with prices in April. Surging wholesale natural gas prices following Russia’s invasion of ...

  Read More »
• 23 August

  Want to cut billions off tax bill? Buy a container ship

  

  Europe wants US tech giants to pay more taxes, but it’s been oddly reticent about the cosy and highly unusual tax arrangements of one of its own dominant industries: container shipping. Given the outsized profits the industry is generating, the current regime is unsustainable. Freight rates have soared in the past two years as pandemic disruption and surging US demand ...

  Read More »
• 23 August

  Who needs government to go to Venus?

  

  Space scientists have waited nearly four decades to send a taxpayer-financed spacecraft on a death plunge into the atmosphere of Venus. Rocket Lab USA Inc, a private space launch provider, announced that the wait is nearly over. But rather than rely on a government space agency to pay the fare, Rocket Lab will finance the mission itself, launching in May ...

  Read More »
• 23 August

  When it is proving too hard for economists!

    The latest buzzword among many economists and investors is “ noise.” It’s being used to refer to any piece of economic data that doesn’t fit the prevailing narrative, which is happening a lot these days. This economy is proving hard to understand. It is very strong in some respects and very weak in others. The official government data shows ...

  Read More »
• 23 August

  When high inflation is a long-awaited victory

    You have to hand it to Haruhiko Kuroda. Despite his caricature as a laggard in a world where interest rates are marching higher, the Bank of Japan chief was cutting-edge when seeking to exceed his inflation target. It’s just taken a while to get there. Six years, in fact. Tempting as a victory lap might be for Kuroda, who ...

  Read More »
• 23 August

  Paytm billionaire founder wins resounding vote to stay at helm

  

    Bloomberg The billionaire founder of Paytm emerged unscathed in a crucial test of investor confidence, with a forceful majority of shareholders voting to keep him at the helm of the fintech pioneer that made one of the worst market debuts in Indian history. An emphatic 99.67% of shareholders voted to maintain Vijay Shekhar Sharma as the managing director and ...

  Read More »
• 23 August

  India’s laboratory-made diamond exports to hit $8b with US demand

  

    Bloomberg India, which cuts or polishes about 90% of the diamonds sold in the world, is ramping up sales of laboratory-made gems as demand from the US surges and they become more accepted in other markets. Exports of polished lab-grown diamonds may double in the current financial year started from April 1 from $1.3 billion in the prior year, ...

  Read More »
• 23 August

  Economists lift S’pore inflation outlook, see more tightening

  

    Bloomberg Singapore’s inflation is seen to remain elevated until the first quarter of next year and the central bank will probably tighten further at the October review, according to a Bloomberg survey of economists. Headline and core inflation forecasts show a quickening into yearend, before both measures start to ease in the January-March period and slip below 4% from ...

  Read More »