July, 2022

• 21 July

  Dubai Chamber sees exports, re-exports surge to AED129b

  

  DUBAI / WAM The Dubai Chamber members’ exports and re-exports surged to AED129.4 billion during H1 2022, marking a 17.8 percent increase compared to the same period last year. The number of certificates of origin issued also rose 8.9 percent year-on-year to exceed 357,000. The growth momentum reflects the Chamber’s ongoing efforts to expand and improve its services that are ...

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• 21 July

  UAE, France sign deal to maximise social, economic benefits of climate action

  

    PARIS / WAM The Office of the UAE Special Envoy for Climate Change and the Government of France have signed a memorandum of understanding (MoU) to maximise the social and economic benefits of climate action and raise ambition for the implementation of the Paris Agreement, as well as support for the 28th United Nations Climate Change Conference of the ...

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• 21 July

  EU seeks 15% cut in natural gas use on Russian supply squeeze

  

  Bloomberg The European Union proposed that the bloc cut its natural gas consumption by 15% over the next eight months in a plan that would affect all households, power producers and industry. The move reflects mounting concern that Russia will halt gas exports to the region in retaliation for sanctions following its invasion of Ukraine. A cutoff would threaten EU ...

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• 21 July

  UK moves to boost green hydrogen amid soaring gas prices

  

  Bloomberg Britain is moving forward with policies to ramp up its nascent green hydrogen industry that uses renewable energy as the government looks for ways to reduce dependence on imports of natural gas. The UK was expected to announce a new round of subsidies for the technology as it meets with industry leaders. Jane Toogood, an executive at Johnson Matthey ...

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• 21 July

  Europe wind generation to rise, providing relief to power costs

  

  Bloomberg European wind generation is forecast to increase, providing some relief to soaring power prices amid a scorching heat wave sweeping across Europe. German wind generation is expected to more than double from the peak to about 18,000 megawatts, according to a Bloomberg model. That’s still well below the 48,663-megawatt high recorded in February. Higher winds are also forecast in ...

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• 21 July

  Putin won’t use a nuke. Chemical weapons, maybe

  

  As a former military commander of the North Atlantic Treaty Organization (Nato), I do a lot of speaking in the US and internationally about the war in Ukraine. The question I get asked most frequently is terrifying and simple: “Would Vladimir Putin use a nuke?” Fortunately, I think the odds of the Russian president doing so are extremely low. But ...

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• 21 July

  Netflix shouldn’t take victory lap yet

  

  Netflix Inc has shown an uncanny ability in the past to bounce back from an unexpectedly poor showing in one quarter with a better-than-projected result the next time around. And so it was on July 19: After alarming the market with its estimate in April of a drop of 2 million subscribers for the second quarter, the video streaming giant ...

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• 21 July

  Is China’s economic engine shrinking now?

    For a few decades now, China has been converging with the US economically. Depending how you measure it, its gross domestic product has either already passed that of its great global rival or is getting ever closer. Average incomes are still much lower in China, but by another key metric of living standards, life expectancy, China matched the US ...

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• 21 July

  The cruelest cut in UK’s Tory leadership race

    A short time before voting closed in the latest elimination round of the Tory leadership contest, Michael Gove, a Conservative Party heavyweight whom Boris Johnson sacked from cabinet before his own downfall, made the case for Kemi Badenoch. Speaking to the think tank Policy Exchange, he called Badenoch his “intellectual superior,” who had three things the next leader needed: ...

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• 21 July

  Airbus, Boeing court Air India in blockbuster plane upgrade

  

    Bloomberg The potential blockbuster deal of this year’s Farnborough air show still hangs in the balance, with Airbus SE growing more confident it can secure a landmark purchase of about 50 A350 wide-body jets from Air India Ltd at the event, and Boeing Co working on a deal for as many as 150 737 Max jetliners. The Indian carrier ...

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