July, 2022

• 28 July

  Over 10mn people visit U.AE in first six months of ’22

  

    Abu Dhabi / WAM The Telecommunications & Digital Government Regulatory Authority (TDRA) announced that more than 10 million people visited the Official Portal of the UAE government (U.AE) during the first half of 2022, an increase of 26% against the same period of last year. Visits to U.AE amounted to approximately 16 million, through which more than 24 million ...

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• 28 July

  Boris Johnson isn’t going away and Tories know it

  

  At a Commonwealth summit in Rwanda back in June, Boris Johnson was asked if he’d want to serve a second term in office. “At the moment, I am thinking actively about the third term,” he quipped. That would take him into the mid-2030s, he noted for any who couldn’t do the math. There is little doubt that, even now, Johnson ...

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• 28 July

  Has China locked in EV supply chain?

  

    The world’s biggest battery company is turning to abundantly available materials as it looks to upgrade power packs for electric vehicles. While that stands to bring down costs and raise efficiency as raw material shortages abound, it’s an opportunity for countries like India and Brazil to take their chunk of the increasingly lucrative EV supply chain before it gets ...

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• 28 July

  UBS just doesn’t want to be Goldman Sachs!

    So that’s clear then. UBS Group AG isn’t trying to build its investment bank just for the sake of “being an investment bank” — the message from Chief Executive Officer Ralph Hamers as he explained the Swiss firm’s poor second-quarter performance versus Wall Street peers. A more selective approach to investment banking may make sense. But investors need to ...

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• 28 July

  EU is faking solidarity, and Putin knows it

    The 27 national leaders of the European Union (EU) love to extol the solidarity that binds their countries together. Even the words signal destiny. “Union” comes via French from the Latin unus for “one,” and solidarity from solidus for “firm, whole and undivided.” Like a good marriage, the bloc is meant to be a solidarity union. In reality, it ...

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• 28 July

  Lufthansa passengers face day of turmoil as staff strike

  

  Bloomberg Deutsche Lufthansa AG passengers in Frankfurt and Munich faced an almost complete shutdown of operations on Wednesday as a walkout by ground crew forced Europe’s largest airline group to cancel more than 1,000 flights at its two busiest German hubs. The airline axed the services at short notice, slamming unions for causing major damage by escalating a wage dispute ...

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• 28 July

  Wizz Air deepens cuts to its summer schedule

  

  Bloomberg Wizz Air Holdings Plc will deepen cuts to its summer schedule, doubling down on efforts to combat disruption from a staffing squeeze that’s upended Europe’s transport industry. After announcing a 5% reduction in peak-season seating, Wizz, the region’s third-biggest discount carrier, will extend the cuts to about 10%, Chief Executive Officer Jozsef Varadi said. “We’ve been going through some ...

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• 28 July

  Frontier, JetBlue at a stalemate in merger battle for Spirit Airlines

  

    Bloomberg With a fateful vote a day away, Spirit Airlines Inc is standing alone at the altar despite having two suitors that have spent months trying to acquire the low-cost carrier. Spirit’s proposed merger with Frontier Group Holdings Inc doesn’t have enough support from shareholders, and the acquirer has said it’s not sweetening the terms of the deal any ...

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• 28 July

  General Electric tops estimates after aviation sales surge

  

    Bloomberg General Electric (GE) Co beat Wall Street’s expectations for second-quarter profit and reported surprise positive cash flow as sales at the key jet-engine division soared, buoying the conglomerate despite supply woes that continue to pressure the balance sheet. GE Aerospace’s sales jumped 27% while orders climbed 26% in the period, the company said in a statement, as rebounding ...

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• 28 July

  LVMH falls slightly short of investors’ high hopes

    Bloomberg LVMH fell slightly short of the high bar the world’s biggest luxury company has set for itself, as continued strong sales from the owner of Louis Vuitton bags and Dom Perignon Champagne failed to impress some investors. The French company posted solid results for the second quarter in Europe, the US and Japan but suffered from a poor ...

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