August, 2021

• 12 August

  Coinbase outlook disappoints post results

  Bloomberg Coinbase Global Inc shares were little changed in extended trading after the largest US cryptocurrency exchange noted that customer usage slowed at the start of the current quarter. The warning came while the company said second-quarter profit jumped to $1.6 billion from $32 million a year earlier. Revenue climbed to $2 billion from $178 million. Analysts polled by Bloomberg ...

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• 12 August

  Amazon-backed Rivian enters talks for $5b Texas plant

  

  Bloomberg Rivian Automotive Inc, the electric-vehicle startup backed by Amazon.com Inc, is in talks to invest at least $5 billion to build a factory near Fort Worth, Texas, according to a document obtained by Bloomberg News. The factory — codenamed “Project Tera” according to the document — will be able to produce 200,000 vehicles a year, and will create at ...

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• 12 August

  Futures edge lower ahead of inflation data; dollar gains

  

  Bloomberg US equity futures and Treasuries edged lower, while the dollar strengthened on Wednesday ahead of a key report on American inflation that will be parsed by traders for clues on the direction of central-bank policy. Contracts on the S&P 500 Index slipped from a record ahead of data out on Wednesday showing US consumer prices probably jumped again in ...

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• 12 August

  Penny stock boom at risk as India bourse curbs price volatility

  

  Bloomberg New measures proposed by Asia’s oldest bourse to curb “excessive price movements” in so-called penny stocks pose hurdles for the millions of newbie traders who have thronged to that segment of India’s $3.1 trillion equity market. BSE Ltd will introduce price bands on the movement of certain stocks based on their performance over a period of six months, one ...

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• 12 August

  China tech stocks rise as analysts turn positive

  Bloomberg Chinese internet stocks rallied in Hong Kong after some brokers started to turn optimistic on the sector and said investors were making an attempt to find a bottom in prices after recent selloff. The Hang Seng Tech Index rose 2.5%, the most in nearly two weeks, to snap a three-day losing streak. The sector bellwether Tencent Holdings Ltd jumped ...

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• 11 August

  Greece wildfires: UAE sends urgent aid to support civilians

  

  ABU DHABI / WAM The UAE, through its humanitarian arm, the Emirates Red Crescent (ERC), is providing urgent aid to support civilians affected by wildfires in Greece. The UAE also assisted the efforts aimed at suppressing the fires, by deploying a helicopter to contain the wildfires on the borders of the Greek capital, Athens. The aid is upon the directives ...

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• 11 August

  Adnoc Distribution announces AED1.15b net profit in H1 2021

  

  ABU DHABI / WAM Adnoc Distribution on Tuesday reported that its first-half 2021 EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) stood at AED1.53 billion, with net profit of AED1.15 billion. For the second quarter, EBITDA was AED712 million with net profit of AED521 million, according to a press release on Tuesday. The strong results were driven by higher fuel ...

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• 11 August

  UAE sends 300,000 Covid-19 vaccine doses to Comoros

  ABU DHABI / WAM As part of its efforts to support sisterly and friendly countries, the UAE dispatched an aircraft to the Comoros loaded with 300,000 Covid-19 vaccine doses and other medical supplies, including 600,000 injection needles, to facilitate the local vaccination process. Saeed Mohammed Al Maqbali, UAE Ambassador to Comoros, said dispatching the medical supplies aimed at addressing the ...

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• 11 August

  Etihad Airways on its path to recovery as operations grow

  

  Abu Dhabi / Emirates Business Etihad Airways has announced operating and financial results for the first half of 2021, showing a progressive recovery across its business despite a slower than expected return to global air travel. The airline carried one million passengers in H1 2021, with an average seat load factor of 24.9%. This represents an average 10% month-on-month growth ...

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• 11 August

  Adnoc, Fertiglobe to sell blue ammonia to Idemitsu

  

  ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc), in partnership with Fertiglobe, has agreed to the sale of blue ammonia to Idemitsu in Japan, for using it in its refining and petrochemicals operations. The sale builds upon recently announced joint efforts to enhance industrial cooperation between the UAE and Japan and support the development of new UAE-Japan ...

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