August, 2022

• 18 August

  Tadweer signs deal for feasibility study for waste-to-energy project

  

    Abu Dhabi / WAM Abu Dhabi Waste Management Centre (Tadweer) signed a consultancy agreement with KEO International Consultants to conduct a feasibility study for developing a project on extracting greenhouse gases from Al Dhafra landfill and converting them into environmentally-friendly energy. This aligns with the centre’s plan to achieve an efficient waste management system and use the best methods ...

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• 18 August

  Abu Dhabi’s Ewec supplies Mediclinic with clean energy

  

    Abu Dhabi / WAM The Emirates Water and Electricity Company (EWEC) on Wednesday announced that it has entered a clean energy agreement with Mediclinic Middle East. The agreement will see Ewec’s clean energy sources powering 100 percent of the electricity consumption of Mediclinic’s Abu Dhabi hospitals and medical centres for a full operating year, supporting the hospital group’s efforts ...

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• 18 August

  Value of construction deals in Ajman hit AED2.1b in H1

  

  Ajman / WAM A report by the Department of Municipality and Planning in Ajman revealed that the value of construction contracts in the emirate exceeded AED2.1 billion in the first half of 2022, higher than during the same period in the two previous years. In 2020, construction contracts were valued at AED800 million, and AED1.9 billion in 2021. Abdul Rahman ...

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• 18 August

  UAE ministry organises ‘One Health’ workshop

    Dubai / WAM The Ministry of Health and Prevention (MoHAP) has organised a national workshop in collaboration with the WHO Regional Office for the Eastern Mediterranean to address the “One Health” approach, an integrated, unifying tool for joint assessment and control of zoonotic diseases. The two-day workshop discussed the concept of the “One Health” approach, which requires combining the ...

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• 18 August

  DXB records 27.9 million passengers in H1 2022

  

    Dubai / WAM A steady surge of growth throughout the second quarter has propelled Dubai International’s (DXB) half yearly traffic to 27.9 million passengers. DXB achieved the milestone despite a significant reduction in capacity resulting from the 45-day closure of its northern runway in May-June for a major refurbishment project. Maintaining its growth recovery for the ninth successive quarter ...

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• 18 August

  Chinese students’ decline in US indeed a bad sign

  

    China’s ambitious students and their parents once dreamed of acquiring an American university education. Now that dream is dying. During the first half of 2022, US student visas issued to Chinese nationals plummeted more than 50% compared with pre-pandemic levels, according to a report in the Wall Street Journal. The US isn’t directly limiting the number of visas. Rather, ...

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• 18 August

  Are Wall Street bonuses too small?

  

  Wall Street banker bonuses are supposed to be kept secret for a variety of reasons. If everyone knew who was paid what, there would be an uprising as people discovered that clear underperformers were getting compensated more than them. It happens. Wall Street compensation is not always about performance. As I outlined in a column earlier this year, it’s largely ...

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• 18 August

  Greensill’s ghost will haunt finance world

    SoftBank Group Corp Chief Executive Officer Masayoshi Son and Credit Suisse AG Chairman Axel Lehmann doubtless wish their respective firms had never met disgraced financier Lex Greensill. But hopefully they — and the finance industry at large — can learn lessons from the scandal that ensued. Greensill’s charm, self-belief and supposed skill at turning the staid business of supply-chain ...

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• 18 August

  The European credit is poised for a renaissance

    After the worst first half in memory for European credit markets, the ship has steadied. The euro-aggregate index rose 4% in July, its best month ever. That reversed a similar-sized loss in June, which punctuated a 13% drop in the first six months for supposedly safe investment-grade bonds. In the midst of high summer, as is to be expected, ...

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• 18 August

  Tencent-backed giants dive on $24b Meituan sale talk

  

    Bloomberg Tencent Holdings Ltd’s biggest investees plummeted after Reuters reported the social media giant intends to sell all or much of its $24 billion stake in food delivery giant Meituan to appease Beijing. The social media giant has engaged financial advisors in recent months on ways to execute the sale of a roughly 17% stake, Reuters reported, citing sources ...

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