December, 2021

• 9 December

  UAE, Colombia ink deal to boost air transport ties

  BOGOTA / WAM The UAE, represented by the General Civil Aviation Authority, and the Republic of Colombia signed a memorandum of understanding (MoU) to strengthen the air transport relations between the two countries on the sidelines of the ICAO Air Services Negotiation Event (ICAN2021). Saif Mohammed Al Suwaidi, Director-General of the General Civil Aviation Authority, and Jair Orlando Fajardo Fajardo, ...

  Read More »
• 9 December

  Business forum in Abu Dhabi highlights strong UAE-Saudi ties

  

  ABU DHABI / WAM Abdullah Mohamed Al Mazrouei, Chairman of the Federation of the UAE Chambers of Commerce and Industry, said that the historic relations between the UAE and Saudi Arabia are deep-rooted and are a prime example of the best forms of cooperation on the highest levels,” said. This came during the UAE-KSA Business Forum held in Abu Dhabi ...

  Read More »
• 9 December

  UAE is Australia’s largest trading partner in Mideast

  

  Dubai / WAM The UAE and Australia enjoy friendly, multi-faceted and rapidly growing relations, said Justin McGowan, Commissioner General of Australia at Expo 2020 Dubai. The UAE is Australia’s largest trading partner and second-largest source of investment in the Middle East, he said, adding that annual trade between the two countries is valued approximately at $7.1 billion. In a statement ...

  Read More »
• 9 December

  Mubadala invests in US software firm Medallia

  

  Abu Dhabi / WAM Mubadala Investment Company, the Abu Dhabi based sovereign investor, announced its investment in Medallia, the market leader in customer and employee experience management software, alongside Thoma Bravo, a leading software investment firm. The minority co-investment was conducted in connection with Thoma Bravo’s recent take private of the San Francisco-based enterprise software company. Thoma Bravo announced the ...

  Read More »
• 9 December

  Adnoc partners with GE to cut emissions of gas turbines

  

  Abu Dhabi / WAM Abu Dhabi National Oil Company (Adnoc) and GE Gas Power on Wednesday announced a joint cooperation initiative to develop a decarbonisation roadmap that includes reducing carbon emissions from gas turbines used to power Adnoc’s downstream and industry operations, including at the world-scale Ruwais Industrial Complex, in Abu Dhabi in the United Arab Emirates. This initiative further ...

  Read More »
• 9 December

  Danube Group first in Dubai to announce new work week

  

  Dubai / Gulf Time Danube Group, Dubai’s leading building material, real estate and retail home furnishing, conglomerate is one of the first few companies who announced their new work week cycle starting January 1, 2022, in line with the UAE governments new directives of a shorter work week. The group intends to retain its two-day weekend (on Saturdays and Sundays) ...

  Read More »
• 9 December

  Is massive US Treasury market too big to trade?

  

  When panic strikes financial markets and everyone runs for the exits, someone has to put up the cash — usually it’s governments and central banks. Indeed, the US Federal Reserve has again and again intervened to calm nerves and keep markets moving by buying up Treasury bonds and injecting liquidity. But as regulators move to fix more problems and reduce ...

  Read More »
• 9 December

  American CEO switch shows optimism

  

  Another big US airline is replacing its chief executive officer in a sign that the pandemic recovery is broadly still on track even as new Covid variants loom. American Airlines Group Inc announced that CEO Doug Parker would step down in March and be succeeded by President Robert Isom. Parker is the longest-serving current CEO of a major US airline; ...

  Read More »
• 9 December

  Was investing in the investors a bad idea?

  As Leo Tolstoy taught us at the beginning of Anna Karenina, “Happy families are all alike; each unhappy family is unhappy in its own way.” It’s a lesson being relearned by investors in European asset managers, whose shareholdings have woefully missed out on the gains enjoyed across the broader equity market this year. The environment for the fund-management industry continues ...

  Read More »
• 9 December

  Germans see Smurf in Scholz. Putin might, too

  Earlier this year, Olaf Scholz, the former finance minister being sworn in as German chancellor, was sitting in on one of many coronavirus crisis meetings. He was looking inscrutable as he often does, which can come across as smug. He could have been thinking about anything, but a Bavarian colleague reprimanded him for “grinning like a Smurf.” By something close ...

  Read More »