August, 2022

• 5 August

  Adib, DIFC FinTech Hive host 6th edition of ‘speed meeting’

  

    ABU DHABI / WAM Abu Dhabi Islamic Bank (Adib), in collaboration with DIFC FinTech Hive hosted a “speed meeting” session for the sixth consecutive year. The session aimed at meeting shortlisted participants of the first sprint of the FinTech Accelerator programme 2022, to evaluate how their solutions can integrate within Adib operations. This year, eight FinTech startups from various ...

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• 5 August

  ERRA set to galvanise UAE publishing sector

    Sharjah / WAM The launch of the Emirates Reprographic Rights Management Association (ERRA) – a first-of-its-kind association in the region – marks a watershed moment in the UAE publishing industry as it strengthens the foundations of a healthy print and publishing market where both the creation and dissemination of content are encouraged. With the launch of ERRA, the UAE ...

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• 5 August

  Dewa launches 2nd batch of ‘cleantech youth programme’

  

    Dubai / WAM Dubai Electricity and Water Authority (Dewa’s) Innovation Centre has launched the second batch of the Cleantech Youth Programme. The programme aims to attract talented young energy leaders from different sectors and expand their skills and knowledge in clean and renewable energy and entrepreneurship. The programme comprises a wide range of training workshops, specialist education sessions, and ...

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• 5 August

  Germany’s switch to diesel from gas comes at a cost

  

  Across Germany, executives have spent the last few months war gaming how to respond if Russian President Vladimir Putin cuts off gas supplies. And many, from tiny companies to global behemoths, have arrived at the same solution: switch to oil. In Munich, the municipal utility has converted two gas-fired boilers to run on diesel. Further South, in the German Alps, ...

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• 5 August

  Uber embodies post-Covid economy

  

  Uber Technologies Inc Chief Executive Officer Dara Khosrowshahi said not long ago that the rideshare company’s mission was to become profitable, rather than the loss-making enterprise it had been since inception. For the first time, Uber is succeeding, posting the biggest positive free cash flow in its history in the second quarter. This may finally be the long-awaited turning point ...

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• 5 August

  Xi Jinping’s $920b VC push has a dark side

    China’s industrial policy seems to have fans across the Pacific. The US’s $280 billion Chips and Science Act is a direct response from the Biden administration to Beijing’s spending to help key industries. But just as the likes of Intel Corp and Micron Technology Inc jostle for a slice of US government support, the perils of relying upon public ...

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• 5 August

  Can DBS challenge HSBC with Fed’s help?

    The battle for Asia’s preeminent financial institution will be fought with the Federal Reserve providing ammunition — to both sides. Just how much profit each can squeeze out of US monetary tightening may end up deciding if Hong Kong’s biggest bank, HSBC Holdings Plc, stays whole and dominant. Or if Singapore’s largest lender, DBS Group Holdings Ltd, gets a ...

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• 5 August

  Lufthansa gives upbeat outlook as travel demand stays strong

  

  Bloomberg Deutsche Lufthansa AG forecast profit will keep rising in coming months amid a boom in demand, even as staffing shortages prompt airports to limit capacity. Europe’s biggest airline group said it expects a “significant increase” in earnings in the third quarter compared to the second. That’s after high ticket prices and bumper profits at the company’s cargo division more ...

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• 5 August

  Boeing defense workers approve revised offer

  

    Bloomberg Boeing Co avoided a crippling work stoppage at its defense manufacturing hub after St Louis-area Machinists accepted a revised contract offer, reversing an earlier vote to strike. “We have delivered an equitable contract that will secure the future for the members, their families and future generations,” Tom Boelling, president of the International Association of Machinists and Aerospace Workers ...

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• 5 August

  Schiphol Airport extends its capacity caps into autumn

  

    Bloomberg Amsterdam Schiphol Airport extended capacity curbs into the autumn as the Dutch hub continues to grapple with a staffing crunch. Royal Schiphol Group NV will cap the number of departing passengers at 67,500 per day for September and 69,500 in October, it said in a statement. The numbers are lower than the 72,500 limit set for August, reflecting ...

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