August, 2021

• 1 August

  UAE’s $110m relief aid helps Socotra overcome challenges

  

  ABU DHABI / WAM The development and relief aid provided by the UAE to Socotra Governorate since 2015 enabled the Archipelago to overcome its many challenges and dire humanitarian conditions and helped local authorities to improve life and livelihood of the Soqotri people. The aid provided to the island from 2015 to 2021 amounted to $110 million, according to official ...

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• 1 August

  Abu Dhabi Chamber’s board holds first meeting

  

  ABU DHABI / WAM The Executive Office of the Abu Dhabi Chamber’s Board of Directors has held its first meeting, which was chaired by Abdullah Mohammed Al Mazrouie, at the Chamber’s headquarters. Dr Ali Bin Harmal Al Dhaheri, First Vice Chairman, Yousuf Ali Abdul Kader, Second Vice Chairman, Masoud Rhama Al Mheirbi, Treasurer, Saeed Ghumran Al Remeithi, Deputy Treasurer and ...

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• 1 August

  Dafza records 8.3% rise in sales revenues in the first half of 2021

  

  DUBAI / Emirates Business The Dubai Airport Freezone Authority (DAFZA) has announced the results of its operational performance for the first half of 2021. The free zone achieved growth in new sales revenues with an increase of 8.3%, which resulted from the rise of 24% in the leased areas compared to the same period last year. These record results are ...

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• 1 August

  ‘UAE among world’s faster nations in 5G deployment’

  

  DUBAI / WAM Mohammed Ibrahim Al Zarooni, Deputy Director of the Information and Digital Government Sector at the Telecommunications and Digital Government Regulatory Authority (TDRA), affirmed that the UAE is among the world’s fastest countries in deploying 5G networks, which facilitated the implementation of the latest projects across health, transport, education and logistics. In a statement to the Emirates News ...

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• 1 August

  Dubai Customs launches Trader Export Report service

  

  DUBAI / WAM Within their continuous efforts to support trade activity in Dubai to help businesses overcome the challenges and boost their revenues, Dubai Customs, in cooperation with the Federal Tax Authority (FTA), launched the Trader Export Report service. The new service will help clearance and shipping agents achieve Zero Rating of supply of goods exported within 90 days of ...

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• 1 August

  UAE, Dutch varsities collaborate on research projects

  

  AL AIN / WAM The United Arab Emirates University (UAEU) continues its efforts to build the economy of the future, based on knowledge, innovation, and technology, and promote the research and development, by adopting many initiatives that achieve the UAE future vision. Research cooperation with Dutch research centers and universities resulted in the producing of 129 research papers during the ...

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• 1 August

  Devon, Conoco study $10 billion Shell Permian assets

  

  Bloomberg Devon Energy Corp and ConocoPhillips are among potential suitors studying Royal Dutch Shell Plc’s portfolio of Permian Basin oil fields, which could be worth as much as $10 billion in a sale, people familiar with the matter said. Chevron Corp is also among companies considering bids for the assets, which are largely located in West Texas, the people said. ...

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• 1 August

  Credit Suisse just couldn’t say no to Archegos Capital

  

  The widespread and enduring failings in Credit Suisse Group AG’s risk management exposed by the Archegos scandal were laid out in all their gory detail. The Swiss bank has started addressing each weakness one by one. What’s needed is for these measures to coalesce into a total cultural overhaul. The implosion of Archegos Capital Management came fast in March. Credit ...

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• 1 August

  Is $695 AmEx Platinum card worth it?

  

  American Express revamped its Platinum card earlier this month, increasing the annual fee to $695 from $550 and adding various new perks. For those accustomed to spending $550 a year for a credit card, an increase of $145 doesn’t seem like much. Still, Platinum cardholders who continue to be wary of frequent travel or big trips due to Covid-19 and ...

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• 1 August

  No good comes from a shrinking population

  America’s population may be shrinking. That’s mostly because of Covid, but it’s also part of longer-term trends in fertility that show no signs of abating. These trends, which are worldwide, have already caused major economic dislocation and are likely to continue to do so. First, some data. From 1936 to 1956, the US fertility rate rose from 1.8 to 3.2. ...

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