August, 2021

• 22 August

  Mexico to seek labour regulations for gig workers

  

  Bloomberg Mexico is evaluating how to regulate worker conditions in the nation’s fast growing gig economy, which could involve legal changes, said Labour Minister Luisa Maria Alcalde. The country is working with the Social Security Institute and Mexico City authorities on a plan to regulate digital platforms, Alcalde said in an interview. There’s no proposal yet, she said, but there ...

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• 22 August

  Even after $1.5tn rout, China tech traders see more pain

  

  Bloomberg Even a $1.5 trillion selloff may not provide an attractive entry point for equity investors as they grapple with cascading risks in China’s technology sector. A stock rout triggered by Beijing’s widening clampdown has left Tencent Holdings Ltd. trading at a price-to-book ratio lower than during the 2008 financial crisis. Alibaba Group Holding Ltd has slumped to record low ...

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• 22 August

  Wall Street just as baffled about markets as it was last year

  

  Bloomberg Ask a Wall Street strategist where stocks will go and the answer will almost always be, higher. That’s not the case now. Twelve out of the 21 forecasters tracked by Bloomberg expect the S&P 500 Index to fall into the holidays. The spread between the highest and lowest target is 24%, the third-widest in nearly a decade. The uncertainty ...

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• 22 August

  Sheikh Mohammed OKs six new projects for development of Hatta

  Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai has approved six new projects in Hatta as part of the Hatta development plan. The projects announced by HH Sheikh Mohammed bin Rashid Al Maktoum include the establishment of 504km-long chairlifts, Dubai mountain peak at an altitude ...

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• 22 August

  Oil caps longest losing streak since 2019 on Fed taper signal

  

  Bloomberg Oil capped the week with the longest losing streak since 2019 as the dollar strengthened after the Federal Reserve signaled it will start tapering stimulus and the virus resurgence raises doubts about demand growth. West Texas Intermediate futures ended the session 2.2% lower, tumbling for a seventh day and extending the week’s decline to 8.9%. Other raw materials including ...

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• 22 August

  HCHF concerned over crisis in Afghanistan

  ABU DHABI / WAM The Higher Committee of Human Fraternity (HCHF) is following the situation in Afghanistan with great concern and hoping that the key actors there will advance the aspirations of the Afghan people to live dignified and peaceful lives. The HCHF called for protecting human rights, guaranteeing public and individual freedoms, and, in particular, safeguarding the rights of ...

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• 22 August

  UAE, Estonia growing industrial, trade ties

  

  DUBAI / WAM The Federation of UAE Chambers of Commerce & Industry (FCCI) has reviewed the prospects of consolidating ties with the Republic of Estonia on the basis of promoting common interests. This came as Abdullah Mohammed Al Mazrouei, Chairman of both the Federation of UAE Chambers of Commerce & Industry and Abu Dhabi Chamber of Commerce and Industry, received ...

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• 22 August

  EU to provide additional funding of €41 million to fight pandemic

  

  BRUSSELS / WAM The EU will provide €41 million to help low and middle-income countries facing an unprecedented health, humanitarian and socio-economic crisis as the Covid-19 pandemic continues to persist, combined with the imbalance in the delivery of vaccines. To help countries in Latin America and the Caribbean, the Middle East and Asia tackle the consequences of the pandemic, the ...

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• 22 August

  Sharjah, Bahrain discuss ways to boost cooperation

  

  Sharjah / WAM The Sharjah Documentation and Archive Authority (SDAA) received Dr Safaa Al-Alawi, Director of the National Archives at the Isa Cultural Centre (ICC) in the State of Bahrain, during an official visit to discuss ways of cooperation between the centre and the authority in regulating the management of government documents. The meeting began with a welcome speech, during ...

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• 22 August

  Dubai Customs receives 43,000 innovative ideas

  Dubai / WAM Dubai Customs’ efforts towards stimulating innovation culminated in a new summit of generating quality ideas conducive to innovations that improve and take customs work to the next level. The total number of innovative ideas generated and submitted by employees since the launch of the e-suggest system in 2000 reached more than 43,000 until end of first half ...

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