September, 2021

• 18 September

  GM expects battery recall cost recovery

  Bloomberg General Motors shares jumped after company said it expects to be reimbursed for battery recall costs from its supplier and sees a “more stable year” for chip supply in 2022. GM is in talks with battery supplier LG Chem over the costs of its Bolt electric vehicle battery recall, which has resulted in a $1.8 billion charge. The company ...

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• 16 September

  Global debt hits record $296tn in Q2 as world lockdowns ease

  

  Bloomberg Global debt loads surged during the second quarter as households seized on low mortgage rates and governments continued borrowing heavily to revive pandemic-battered economies. The amount of the world’s outstanding debt swelled during the three months by about $4.8 trillion to a record $296 trillion, according to a report by the Institute of International Finance. The increase was led ...

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• 16 September

  Khalifa issues law to set up Creative Media Authority

  ABU DHABI/ WAM In his capacity as Ruler of Abu Dhabi, President HH Sheikh Khalifa bin Zayed Al Nahyan, issued a law establishing the Creative Media Authority as part of the Department of Culture and Tourism – Abu Dhabi. The authority aims to enhance growth of emirate’s creative sector and will act as a regulatory and supervisory body, ensuring hard ...

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• 16 September

  UAE-Israel bilateral trade to top $1 billion in 2021

  

  ABU DHABI / WAM The number of Israeli companies operating in the UAE is expected to grow 100 percent by 2022, the President of the UAE-Israel Business Council (UIBC) told Emirates News Agency (WAM). “With bilateral trade expected to exceed $1 billion in 2021, $3 billion in three years, and over 500 Israeli companies (currently) importing, exporting and operating in ...

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• 16 September

  UAE advancing towards prosperous future in various sectors: Al Mheiri

  

  ABU DHABI / WAM Mohamed Helal Al Mheiri, Director-General of the Abu Dhabi Chamber of Commerce and Industry, has said the UAE is steadily advancing towards a prosperous future in various sectors, most notably the economic sectors, in line with its leading international stature, through launching major projects for the next 50 years. In an interview with the Emirates News ...

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• 16 September

  India seeks $109 billion valuation in LIC’s IPO

  

  Bloomberg India’s government is seeking a valuation of between 8 trillion rupees ($109 billion) to 10 trillion rupees for Life Insurance Corporation (LIC), in what’s slated to be the nation’s biggest initial public offering (IPO). The possible valuation is based on preliminary talks and may change after detailed discussions, due diligence and an official valuation report. The government is considering ...

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• 16 September

  UAE’s first global savings club launched

  Dubai / WAM National Bonds in conjunction with Dubai Quality Group have united to boost the savings culture in the United Arab Emirates by launching the first savings club of the nation; ‘The Global Savings Club’. The collaboration between National Bonds and Dubai Quality Group will enable members of the public and private sectors to pursue their dreams, fulfill their ...

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• 16 September

  Emirates to resume flights to Philippines

  

  Dubai / Emirates Business Emirates has announced it has resumed scheduled passenger services to Manila, Clark and Cebu. With the lifting of the ban on travellers from the UAE by the Philippines authorities, which took effect on September 6, the airline has resumed seven weekly services to and from Manila, while five weekly flights to Clark and twice weekly flights ...

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• 16 September

  Dubai Health Authority launches policy to regulate AI in healthcare

  

  DUBAI / WAM The Informatics and Smart Health Department at the Dubai Health Authority (DHA) has launched the first Artificial Intelligence Policy for healthcare in Dubai. The policy is in line with the vision of the UAE Strategy for Artificial Intelligence that intends to achieve the UAE Centennial 2071 objectives, boost government performance, and invest in AI adoption. The AI ...

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• 16 September

  UAE sees 706 new recoveries from Covid-19

  Abu Dhabi / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted 311,171 additional Covid-19 tests over the past 24 hours, using state-of-the-art medical testing equipment. In a statement, the ministry stressed its aim to continue expanding the scope of testing nationwide to facilitate the early detection of coronavirus cases and carry out the necessary treatment. As ...

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