April, 2022

• 14 April

  FTA launches whistle-blower program for tax violations

  

    Abu Dhabi / WAM The Federal Tax Authority (FTA) has announced the launch of Raqeeb, the “whistle-blower program for tax violations and evasion”, which aims to promote community control over local markets, raise the level of tax compliance in the UAE and reduce tax evasion cases. Effective as of April 15, in line with the cabinet decision regarding the ...

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• 14 April

  Sandooq Al Watan grants AED250,000 to Lune Technologies

  

    ABU DHABI / WAM Sandooq Al Watan, the community initiative launched by Emirati businessmen to support the creation of a better future for forthcoming generations, announced that it has funded ‘Lune,’ a platform from an Emirati startup specialising in the field of financial data analysis, with an amount of AED250,000. Created by Lune Technologies, a startup founded by a ...

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• 14 April

  Emirates to launch NFTs

  

    Dubai / WAM Emirates will soon launch Non-Fungible Tokens (NFTs) and exciting experiences in the metaverse for its customers and employees. The airline, which has earned a reputation for its innovative products and customer-centric services, today unveiled its plans to build signature brand experiences in the metaverse, alongside both collectible and utility-based NFTs. The first projects are already underway, ...

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• 14 April

  China offers more detail on Xi’s desert clean power mega-hub

  

    Bloomberg The majority of China’s massive desert renewable power project will be built after 2025, and most of the capacity in the first phase will come from solar, according to a researcher from the country’s largest grid operator. The details fill in some gaps about the country’s plans to build 455 gigawatts of wind and solar power across the ...

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• 14 April

  Petrobras puts ex-energy official on track to be CEO

  Bloomberg Petrobras’s shareholders appointed Jose Mauro Coelho as a board member, a key step for the former energy ministry official to become chief executive officer and end a tumultuous leadership transition. The board of directors at Petroleo Brasileiro SA, as the state-controlled oil producer is known, will hold a separate vote to name Coelho as CEO. It is expected to ...

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• 14 April

  Tesco is being pessimistic about record inflation

  

    Tesco Plc has become the first British food retailer to warn about the impact of the cost-of-living crisis. But it’s worth remembering that inflation — even at a 30-year high of 7% in March — isn’t all bad for grocers. The company announced a rebound in underlying operating profit in the year to February 2022, up almost 60% to ...

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• 14 April

  Supply chain worries are going viral

  

  There’s a trite expression that perfectly encapsulates how corporate leaders should now be viewing their intense dependence on Chinese production: Fool me once, shame on you. Fool me twice, shame on me. After Covid-19 first struck in China, shuttering factories there before disruptions spread around the world, executives kind of knew it was a bad idea to have their supply ...

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• 14 April

  Institutional investors are flexing ESG muscles

  People tend to associate environmental, social and governance investing with stock-picking, a way to sort through companies based on their ESG practices. But not every investor can be choosy about the companies they own. Big pension, endowment and sovereign wealth funds oversee tens of billions and even trillions of dollars, which means they have to own practically everything. If they ...

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• 14 April

  The great Chinese white elephant of Sri Lanka

  Sri Lanka’s President Gotabaya Rajapaksa has a fetish for fiasco. The Indian Ocean island is a basket case for several reasons. Covid-19 decimated dollar earnings from tourism; the resulting increase in social spending ballooned public debt. Then came the war in Ukraine, worsening shortages of food, fuel and foreign currency. But the lion’s share of the blame must go to ...

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• 14 April

  Delta Air spurs leisure rally over summer travel rebound

  

  Bloomberg Delta Air Lines Inc spurred a rally among airline and leisure stocks as it said a strong rebound in summer travel bookings will help the carrier overcome rising fuel costs and a slow return of business travel. While the airline posted a first-quarter loss, it stood firm with previous projections that it would be profitable for the year’s remaining ...

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