July, 2021

• 25 July

  US, Mexico fail to resolve dispute on trade rules for cars

  

  Bloomberg The US and Mexico failed to resolve a dispute over trade rules for cars during a meeting this week, threatening the goal of boosting regional manufacturing under their new trade pact. US Trade Representative Katherine Tai and Mexican Economy Minister Tatiana Clouthier discussed the topic in Washington but couldn’t reach a resolution, according to people familiar with the talks, ...

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• 25 July

  China crackdown makes HK index world’s biggest tech loser

  

  Bloomberg An index launched a year ago to give investors greater exposure to China’s internet giants is now the world’s worst-performing major technology gauge. The Hang Seng Tech Index has been on a roller-coaster ride in the last 12 months. The gauge, which marks its one-year anniversary, was up 59% at its February peak but has since seen more than ...

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• 25 July

  Stock bulls watch $17 trillion burn a hole in pockets

  

  Bloomberg In the stock market, the refusal of retail investors to back down from every macro threat has become the only story. When will it end? Judging by the size of all the pools of cash lying around, it could be a while. Among all the economic stories of the pandemic, the one about money piling up in people’s accounts ...

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• 25 July

  UAE re-affirms commitment to eradicate polio in Pakistan

  

  Islamabad / WAM The World Health Organisation (WHO), on behalf of the Polio Eradication Initiative, has announced on Saturday that the United Arab Emirates has made available a total of $23 million funding for polio campaigns and around $376000 for the procurement of frontline worker personal protective equipment for protection against Covid-19 in 84 highest-risk districts of Pakisan. This funding ...

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• 25 July

  Oil ekes out weekly gain as demand offsets virus fears

  

  Bloomberg Oil squeezed out its first weekly gain in three on signs that global demand is holding up despite concerns that the renewed spread of the virus could stall the recovery. Futures in New York rises 0.2% this week, completely recouping a selloff that was stoked by the rapidly spreading delta variant. Fuel demand and road traffic from the US ...

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• 25 July

  Covid-19: UAE sends 56 tonnes of medical supplies to Indonesia

  Abu Dhabi / WAM The United Arab Emirates on Saturday sent a plane carrying 56 tonnes of medical supplies, including oxygen cylinders, respiratory equipment and Covid-19 vaccines, to Indonesia, in support of the national efforts there to combat and contain the spread of the pandemic. Abdullah Salem Al Dhaheri, UAE Ambassador to Indonesia, praised the strong relations between the UAE ...

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• 25 July

  G-20 ministers stumble over coal, global warming targets

  

  Bloomberg Environment ministers from the Group of 20 nations were unable to reach full agreement on key climate goals, just 100 days before a critical international conference kicks off. After marathon negotiations that ran through the night, the ministers couldn’t find common ground on phasing out coal or how much to limit global warming, Italian Ecological Transition Minister Roberto Cingolani ...

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• 25 July

  UK economy faces $6.3bn hit from pingdemic: CEBR

  

  Bloomberg The UK’s economy could face a loss of more than 4.6 billion pounds ($6.3 billion) in just four weeks if rules on self-isolation following a “ping” from the NHS app aren’t relaxed, according to data from Centre for Economics and Business Research. Since July 19 “freedom day,” the surge of Covid cases in the UK implies that an increasing ...

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• 25 July

  Dewa commissions 3 new substations in Dubai in 2021

  

  DUBAI / WAM Dubai Electricity and Water Authority (Dewa) has commissioned three new substations with a conversion capacity of 450 megavolt-amperes (MVA) in addition to 132 kV ground cables that extend on 35 kilometres and are connected to the main transmission network. This is part of Dewa’s efforts to provide electricity and water services according to the highest standards of ...

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• 25 July

  Palm owners to promote their products at ‘Al Dhaid’ festival

  

  Sharjah / WAM The activities of the fifth edition of the Al Dhaid Date Festival are currently underway at the Expo Al Dhaid amid a high turnout of visitors and remarkable participation from palm and fruit farm owners in the various competitions. This year’s edition is not only dedicated to the “Mazayna” competitions but also sees a strong presence of ...

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