February, 2022

• 15 February

  UAE, UK discuss parliamentary cooperation

    LONDON / WAM Dr Ali Rashid Al Nuaimi, Chairman of the Defence, Interior and Foreign Affairs Committee in the UAE Federal National Council, has met with Dr Liam Fox, a member of the British Parliament and Chair of UK Abraham Accords Group, at the British Parliament. Several FNC members attended the meeting. During the meeting, they discussed joint parliamentary ...

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• 15 February

  Dewa’s Hassyan power complex adds 1,200 MW to Dubai’s capacity

  

    DUBAI / WAM Dubai Electricity and Water Authority (Dewa) has confirmed that the current production capacity of Hassyan Power Complex reached 1,200 megawatts (MW), using the Independent Power Producer (IPP) model. A further 600 MW will be added in Q4 of 2022, and an additional 600 MW will be added by Q3 of 2023. This will raise the capacity ...

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• 15 February

  Hold that Tesla! Inflation will be made of aluminum

  

    Aluminum is the jack-of-all-trades of the metal industry: it’s everywhere, underpinning modern life, from an iPhone to a jetliner to a can of beer. For a long time, however, it was difficult to get excited about it. The metal is just dirt: bauxite, one of the most abundant elements on the Earth’s crust. And the bulls couldn’t count on ...

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• 15 February

  India’s LIC IPO is a delicate business

  

  Life Insurance Corp of India was seeded by the government in New Delhi, but nourishing the sapling to a colossus with 39.6 trillion rupees ($525 billion) in assets under management — and more lives assured than Pakistan’s population — has fallen on generations of loyal customers. Which is why LIC’s upcoming initial public offering, India’s biggest ever share sale, raises ...

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• 14 February

  Top funds should be able to stand some light

    Online brokers like Robinhood Markets Inc and crypto assets might get the headlines, but the Securities and Exchange Commission’s parallel effort to drag private-equity firms and hedge funds out of the shadows will have far more impact on far more lives. Private equity especially has exploded in power and reach in the past decade. That’s why SEC Chair Gary ...

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• 14 February

  UK Conservatives have a bigger problem than PM

    When, not if, has been the growing consensus on Boris Johnson’s departure as prime minister. He’s unpopular, untrusted and no longer seen as an authority — a man in office but only barely in power. His former aide and now arch-enemy Dominic Cummings has hinted that there are more damaging party pictures and other kompromat to emerge. And the ...

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• 14 February

  Boeing not to rush process of resuming 787 deliveries

  

    Bloomberg Boeing Co said it’s not racing to resume deliveries of its 787 Dreamliner as the company played down the risk that customers waiting for the jet might switch to rival planemaker Airbus SE. Stan Deal, president and chief executive officer of Boeing Commercial Airplanes, said the company is in talks with all the affected airlines and indicated he ...

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• 14 February

  JD Sports hit by $5.8m fine over ‘banned deal’

  

    Bloomberg JD Sports Fashion Plc was fined 4.3 million pounds ($5.8 million) after Britain’s merger watchdog said the retailer broke confidentiality rules during its vetoed bid for rival Footasylum. The Competition and Markets Authority (CMA) said that the two sports retailers failed to put sufficient safeguards in place to avoid sharing commercially sensitive information. The CMA said that in ...

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• 14 February

  PepsiCo falls with higher costs overshadowing revenue gains

  

  Bloomberg PepsiCo Inc gave a full-year sales outlook that was ahead of estimates as the company looks to pass the burden of higher costs onto consumers. Organic revenue is projected to rise 6% this year on an adjusted basis, compared with the 5.4% average estimate, after fourth-quarter growth exceeded analysts’ expectations. The company said that core earnings per share were ...

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• 14 February

  Airlines rise on optimism travellers returning to skies

  

  Bloomberg Airline stocks recorded their first back-to back weekly gains gain since early October, potentially marking the beginning of a long-overdue recovery, amid growing signs that a reopening of the economy is gaining pace. The S&P Supercomposite Airlines Industry Index closed up 6.1%, after a 3% gain, as investors continue to shun higher-risk growth stocks given expectations for aggressive interest-rate ...

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