August, 2022

• 19 August

  UAE unveils new incentives for Emirati SMEs

    Abu Dhabi / WAM The Ministry of Human Resources and Emiratisation issued the Ministerial Resolution No. 251 of 2022 regarding supporting Emirati small and medium-sized enterprises (SMEs) with new incentives. The enterprises that will benefit from the new incentives have to be members of accredited funds/programmes that support SMEs in the UAE. The new incentives include classifying up to ...

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• 19 August

  Mubadala-backed G42 sets up $10bn technology growth fund

  

  Abu Dhabi / WAM G42, the leading UAE-based AI and cloud computing technology company, on Thursday launched the $10 billion G42 Expansion Fund, a global technology growth fund formed in strategic partnership with Abu Dhabi Growth Fund (ADG). The fund, which will be managed by a subsidiary of G42, is focused on accelerating the pace of global innovation by investing ...

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• 19 August

  Etihad Rail welcomes its new state-of-the-art fleet of trains

  

    Abu Dhabi / WAM Etihad Rail, the developer and operator of the UAE National Rail Network, has achieved a new milestone in the development of the National Rail Network, with the arrival of first batches of the company’s new and advanced rolling stock fleet. The locomotives and wagons, which reached the UAE via Zayed and Al Musaffah Ports, will ...

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• 19 August

  UAE is a reliable supplier of least carbon-intensive oil, gas

  

    Abu Dhabi / WAM Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and Managing Director and group CEO of the Abu Dhabi National Oil Company (Adnoc), and the UAE’s special envoy for climate change, has said that record growth in renewables, representing over 80% of all new power-generating capacity last year, is the clearest sign ...

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• 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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