June, 2022

• 22 June

  ‘Make it in the Emirates’ forum kicks off in Abu Dhabi

  

    Abu Dhabi / WAM The ”Make it in the Emirates Forum” began on Tuesday, drawing a large number of local and international industrial companies, government entities, financing institutions, and investors. The forum, organised by the Ministry of Industry and Advanced Technology (MoIAT) in cooperation with the Abu Dhabi Department of Economic Development (Added), under the theme of “Invest, Partner, ...

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• 21 June

  Germany warns of difficulty in capping price of Russian oil

  

    Bloomberg The German government is willing to discuss a US proposal to cap the price of Russian oil exports, while cautioning that such a measure may be too complicated to implement. US Treasury Secretary Janet Yellen’s idea to link an oil price cap to insurance sanctions is an interesting proposal, and the Group of Seven most industrialized countries are ...

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• 21 June

  The death of WTO has only been delayed now

  

  That the World Trade Organization (WTO) was able to come to any kind of deal at its 12th ministerial meeting last week was something of a miracle. The organisation has been dead for years as a location for trade governance — and even longer as a place for successful negotiations. In fact, reports of the WTO’s continued existence are greatly ...

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• 21 June

  Centaurs eclipse Tech’s $1b unicorns

  

  When Marc Andreessen and Ben Horowitz’s startup LoudCloud clinched a fundraising round at an $820 million valuation even as the dotcom boom unraveled in 2000, management expected cheers from staff. Instead, the first question was: “Why didn’t we get a $1 billion valuation?” Unicorn envy — the quest for those nine zeroes that grab headlines and open wallets — has ...

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• 21 June

  Real estate is the crisis risk to watch out for

    As you will doubtless have been informed, world equities are now in a bear market. What happens next? The most excessive speculation has already been washed out of the system. Those warning of bubbles in bitcoin and other cryptocurrencies, meme stocks, or the growth tech companies owned by the ARK Innovation ETF certainly seem to have had a point. ...

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• 21 June

  Joe Biden needs to do more than lifting tariffs

    President Joe Biden finally plans to ease some of the tariffs on Chinese goods put in place by his predecessor — which is the right policy. But the president will have to do more if he wants to keep inflation low in the post-Covid economy. The administration needs a complete reversal of its trade policy: Stop promoting demand for ...

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• 21 June

  Primark to trial click and collect service in Britain

  

    Bloomberg Associated British Foods Plc said that budget-clothing retailer Primark will test a UK click-and-collect service on children’s products, seeking to boost sales that are still recovering from the pandemic. In a significant departure for a retailer that has previously resisted moving any of its sales online, the trial will take place in up to 25 stores in the ...

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• 21 June

  JetBlue Airways raises Spirit offer once again as investor vote nears

  

    Bloomberg JetBlue Airways Corp raised its offer to purchase Spirit Airlines Inc, the latest move in a multi-billion dollar takeover contest with rival Frontier Group Holdings Inc, with both would-be suitors battling to secure a swift track to expansion as domestic travel demand surges. New York-based JetBlue is now offering $33.50 per share, up from $31.50 on June 6, ...

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• 21 June

  EasyJet cuts summer capacity to ease disruption, sees cost hit

  

  Bloomberg EasyJet Plc said it will rein in summer capacity after London Gatwick and Amsterdam Schiphol airports, its two biggest bases, capped flights to help cope with a staffing shortage. The measure is set to push up costs. The UK discount carrier will now operate at around 87% of pre-Covid capacity in the three months ending on June 30, increasing ...

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• 21 June

  Ocado raises $705m in share placing to fund expansion

  

    Bloomberg Ocado Group Plc raised £575 million ($705 million) to fuel expansion even as the surge in online food shopping during the pandemic recedes with soaring inflation thinning consumer wallets. Shares in the British e-commerce group fell as much as 6.1% in early trading, after Ocado sold 72.3 million shares in an accelerated placing, in an emailed statement. Stock ...

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