August, 2022

• 6 August

  Abu Dhabi International Boat Show launches early bird ticket sales

  

    Abu Dhabi / WAM The Abu Dhabi International Boat Show (Adibs), the UAE capital’s prestige boating, leisure marine and fishing show, has announced the launch of early bird ticket sales for the eagerly anticipated 2022 event. Organised by the Abu Dhabi National Exhibitions Company (Adnec), the fourth edition of Adibs will take place at Adnec’s brand new Marina Hall ...

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• 6 August

  NCEMA holds session to discuss community safety

  

    Abu Dhabi / WAM The National Emergency Crisis and Disasters Management Authority (NCEMA), represented by the Department of Safety and Prevention, held a brainstorming session to discuss the national framework for preparedness and public safety. The session saw the participation of a number of federal and local agencies concerned with managing institutional and community risks. The session discussed a ...

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• 6 August

  Glencore pays out $4.45bn as coal drives record profit

  

    Bloomberg Glencore Plc will return an additional $4.45 billion to shareholders in dividends and share buybacks after first-half profit more than doubled to a record thanks to surging coal prices. Glencore, the world’s top coal shipper, has been one of the biggest winners from the global energy crunch as demand surges for fossil fuels. The company’s sprawling trading business ...

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• 6 August

  Shell hands out 8% salary bonus to staff amid record profits

  

    Bloomberg Shell Plc has given the vast majority of its employees a bonus equivalent to 8% of their annual salary as earnings surge to historic highs. “In recognition of the contribution our people have made to Shell’s strong operational performance against a recent challenging backdrop, our Executive Committee has decided to make a Special Recognition Award of 8% of ...

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• 6 August

  France to curb nuclear output as Europe’s energy crisis worsens

  

    Bloomberg Electricite de France SA said it’s likely to extend cuts to nuclear generation as scorching weather pushes up river temperatures, bringing the energy crisis in the European Union’s second-largest economy into sharp focus. Europe’s biggest producer of atomic energy, usually a net exporter of power for most of the year, is importing now. The nuclear issues are not ...

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• 6 August

  Uniper warns on German power output

    Bloomberg Uniper SE warned it may have to cut output at two key coal-fired power plants in Germany as the company struggles to get fuel supplies along the Rhine River, exacerbating an energy crunch that has threatened to push the continent’s largest economies into recession. Water levels on the Rhine have fallen so low that the river may effectively ...

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• 6 August

  India plans to order consumers to use cleaner fuels

  

    Bloomberg India plans to order consumers to use cleaner fuels and aims to establish a carbon market under legislation to bolster the country’s push to hit net-zero greenhouse gas emissions by 2070. The world’s third-biggest emitter will seek to mandate the use of a minimum share of non-fossil fuel sources including biomass, ethanol, green hydrogen and ammonia, both for ...

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• 6 August

  Google trends an arbiter of economic downturns

  

    We didn’t need the reported two consecutive quarters of declining real gross domestic product —the unofficial determination of a recession — to tell us the US economy is already in, or at least close to, a business downturn. And we certainly don’t need to wait for many months for the official declaration by the National Bureau of Economic Research ...

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• 6 August

  Toyota’s supply-chain woes loom large

  

  The world’s biggest car company had a rough quarter, and its supply-chain problems aren’t going away any time soon. That’s a warning for other large manufacturers — and their stakeholders. Toyota Motor Corp’s profits fell 18% for the quarter ended June. Much of the hit came from raw material prices that knocked operating income down by 315 billion yen ($2.35 ...

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• 6 August

  Honeywell’s CEO needs to tap dealmaker goals

    Darius Adamczyk, the chief executive officer of Honeywell International Inc, is running out of excuses not to make a splash in M&A. Adamczyk, who has been CEO since 2017, has talked for a while about Honeywell’s large pipeline of potential acquisitions and how he wants to prioritise doing deals over buying back stock. But he usually quickly countered that ...

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