July, 2022

• 1 July

  Abu Dhabi’s manufacturing sector to hit AED172b by ’31

  

    Abu Dhabi / WAM His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Member of Abu Dhabi Executive Council and Chairman of Abu Dhabi Executive Office, on Thursday launched the Abu Dhabi Industrial Strategy to strengthen the emirate’s position as the region’s most competitive industrial hub. Abu Dhabi government will invest AED10 billion across six transformational programmes to ...

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• 1 July

  UAE sends food supplies for Ukrainian refugees in Bulgaria

  

    ABU DHABI / WAM The UAE on Thursday sent a plane carrying 52 metric tons of food supplies to support Ukrainian refugees in the Republic of Bulgaria as part of the continuous relief provided by the UAE to alleviate the humanitarian impact faced by Ukrainian refugees in countries neighboring Ukraine. The number of refugees in Bulgaria is estimated at ...

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• 1 July

  Hub71, e& enterprise to launch UAE’s first AI center of excellence

  

    Abu Dhabi / WAM Hub71, Abu Dhabi’s global tech ecosystem, and e& enterprise, part of e& (formerly known as Etisalat Group), Thursday announced the launch of the region’s first AI CoE. The launch highlights the importance of pursuing partnerships and collaborations with businesses, governments, investors, and startups to create a smarter, safer, and more sustainable world through the co-creation ...

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• 1 July

  Mubadala Petroleum celebrates decade of growth

  

    Abu Dhabi / WAM Mubadala Petroleum, the Abu Dhabi headquartered international energy company, has celebrated its tenth anniversary after emerging as an independent entity from Mubadala’s energy unit in 2012. Since then, the company has continued to grow and now spans eleven markets, employs over 500 people and is making a significant contribution to the energy transition through its ...

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• 1 July

  And, the workers of the world are uniting again!

  

    For decades, workers made do with a smaller share of the spoils of capitalism, and the labour unions who represented them shed members and influence. Now employees are finding their collective voice again, and not before time. Tight job markets and the soaring cost of living are fuelling demands for higher pay and better working conditions on both sides ...

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• 1 July

  Wheels have come off electric vehicles

  

  The world’s biggest car company, Toyota Motor, reluctantly released an electric vehicle in May. Weeks later, it recalled 2,700 of them because there was a risk in their wheels — the most fundamental component — would fall off. If that’s the level of quality and safety traditional auto giants are willing to commit to, then investors and regulators should increase ...

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• 1 July

  Will China overtake the US on Mars missions?

    In 2033, a US spacecraft will return to Earth carrying the second cache of rocks ever collected from the surface of Mars. The first cache? It will have been collected by China two years earlier, in 2031, according to plans released by one of China’s top space scientists. Of course, there’s no guarantee that either mission will succeed. But ...

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• 1 July

  Markets signal a kind of pyrrhic inflation victory

    Inflation almost seems passe. The worry of the moment is now economic growth. That’s not unreasonable, as the latest update shows US gross domestic product declined at an annualised rate of 1.6% in the first quarter. With the huge exceptions of the Covid-scarred first two quarters of 2020, this was the weakest US growth since the spring of 2009. ...

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• 1 July

  Bed Bath & Beyond’s recovery hopes fade as Cohen hangs in

  

    Bloomberg Mark Tritton was supposed to be the savior for Bed Bath & Beyond Inc — a hotshot executive from Target Corp who knew how to charm customers with in-house brands and train stores on handling online and in-person orders. But the chief executive officer never saw the fruits of his labour, and the home-goods retailer watched its sales ...

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• 1 July

  Delta Air Lines offers free rebooking for ‘July Fourth’

  

    Bloomberg Delta Air Lines Inc, which has struggled with flight delays and cancellations this summer, is letting passengers change their travel plans for the “potentially challenging” Fourth of July holiday weekend without having to pay a fare difference. The “unique” waiver is available across Delta’s system for trips July 1 through 4, as long as customers travel between the ...

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