September, 2021

• 13 September

  UAE to spend AED24bn to boost private-sector jobs

  

  Abu Dhabi / WAM The United Arab Emirates on Sunday unveiled a sweeping programme of reforms and financial incentives to drive new private sector opportunities for both young and experienced Emiratis, with an investment of AED24 billion to create 75,000 new private sector jobs for Emiratis. The new announcements include grants for students and fresh graduates to take up private ...

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• 13 September

  Expo 2020 paves way for opening new markets: Austrian minister

  

  Dubai / WAM Margarete Schramböck, Austria’s Minister of Digital and Economic Affairs, has said that Expo 2020 Dubai paves the way for opening new markets, enhances international cooperation, and provides the opportunity to highlight the quality of research and development of Austrian innovations. On the occasion of the approaching inauguration of Expo 2020, the minister stated that Austria’s participation focuses ...

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• 13 September

  ERC projects in Afghanistan worth AED320 million

  

  Abu Dhabi / WAM The value of humanitarian, relief and development projects carried out by the Emirates Red Crescent (ERC) in Afghanistan over the past decades totals more than AED320 million, and has benefitted over 8 million people. This aid includes development projects, seasonal programmes and other aid worth over AED242 million that helped over 5 million people, while the ...

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• 13 September

  Etihad enhances ‘Verified to Fly’ service to make travel easier

  

  ABU DHABI / WAM Etihad Airways has announced its upgraded “Verified to Fly” service to offer a more streamlined and personalised service through its website, etihad.com. This upgrade makes the process quicker and easier for Etihad’s guests to ensure they have all the required Covid-related documents before leaving for the airport. Seven days ahead of travel, all guests will receive ...

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• 12 September

  Johnson’s tax hike is a defining moment for UK

  

  There are moments in a government’s lifetime that symbolise a change of ideological direction. Last week UK Prime Minister Boris Johnson’s decision to raise taxes to pay for social care and bail out the National Health Service (NHS) was one of them. However worthy the objectives, the result will leave the country with the highest tax burden since 1945. Crucially ...

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• 12 September

  Singapore SPACs need to go hunting

  

  Poor man’s private equity or private equity’s poor cousin? Blank-check companies, which will soon be arriving in Singapore, could easily fall in one or the other group, depending on the quality of their early sponsors. Celebrities need not apply. Serena Williams or A-Rod won’t be luring Indonesian travel booking website Traveloka or Vietnamese gaming firm VNG Corp to Singapore. And ...

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• 12 September

  Even wrecked cars are more expensive now

  Think used cars are expensive? Take a look at totaled cars. Copart Inc is a $34 billion company that specialises in auctioning off wrecked cars that insurers deem too damaged to justify the cost of repairs. The insurance companies and other sellers — which include banks, charities and, increasingly, used-car dealers — get what’s recovered in the auction, but they ...

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• 12 September

  Apple app-store ruling a setback for Tim Cook

  Apple Inc’s dominance over the mobile-app economy has just suffered its first significant setback. It could mark the beginning of a real antitrust reckoning for the technology giant that may benefit the livelihoods of millions of app developers. US District Judge Yvonne Gonzalez Rogers issued her decision in a landmark antitrust suit brought by video-game publisher Epic Games Inc against ...

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• 12 September

  Italy’s new carrier may claim Alitalia brand in time for debut

  

  Bloomberg Italy’s new state-backed airline, Italia Trasporto Aereo SpA, will seek to buy the Alitalia name in time for its start of service in mid-October, according to people familiar with the matter. A market-price auction of the brand was outlined in a decision released by the European Commission. It’s one of the measures required in order to consider ITA a ...

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• 12 September

  Once-bankrupt Japan Air raises $2.7 billion as buffer

  

  Bloomberg Japan Airlines Co plans to raise about 300 billion yen ($2.7 billion) via subordinated bonds and loans to shore up its capital in case the coronavirus pandemic hurts travel demand longer than it expects. The Tokyo-based carrier said it secured around 200 billion yen in loans from four Japanese banks and plans to sell 100 billion yen of bonds. ...

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