July, 2021

• 18 July

  SEDD carries out 48,191 inspection campaigns

  

  Sharjah / WAM A total of 48,191 inspection campaigns were carried out on various economic establishments in Sharjah during the second quarter of 2021, achieving a growth of 288 percent compared to the second quarter of last year, according to Sharjah Economic Development Department (SEDD). Salim Al Suwaidi, Deputy Director of Commercial Control and Protection Department at SEDD, said the ...

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• 18 July

  SCCI gears up to launch 5th Al Dhaid Date Festival

  

  SHARJAH / WAM The Organising Committee of the Al Dhaid Date Festival has finalised all preparations to launch the 5th edition of the festival, which is organised by the Sharjah Chamber of Commerce and Industry (SCCI) from July 22-25. Mohammed Ahmed Amin Al-Awadi, Director-General, SCCI, stated the preparations are in full swing to organise a distinguished season of the festival ...

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• 18 July

  Rezq-Baraka raises $20m for expansion

  

  Emirates Business Zurich Capital Funds Holding (the ZCFH’) marked the beginning of an exciting new chapter in its ongoing journey towards expanding its investment portfolio with the launch of its new mobile banking. ZCFH headquartered in GCC & Africa, mobile banking company Rezq -Baraka (the ‘Rezq), the only mobile Shariah compliant &digital bank in the world, raises $20 million for ...

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• 18 July

  Covid-19: UAE reports 1,508 new recoveries

  

  Abu Dhabi / WAM The Ministry of Health and Prevention (MoHAP), announced that it conducted 299,275 additional Covid-19 tests over the past 24 hours, using state-of-the-art medical testing equipment. In a statement on Saturday, 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 ...

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• 18 July

  Delta seeks to cut Covid debt burden with bond buyback

  

  Bloomberg Delta Air Lines Inc is offering to buy back up to $1 billion of high-cost bonds issued at the height of the pandemic last year, as the company begins to look at ways to scale back its balance sheet. The tender offer is for three bonds issued between April and September 2020, according to a news release. The airline ...

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• 18 July

  FAA orders inspections of 737 cabin air sensors

  Bloomberg More than 2,500 Boeing Co 737 jets in the US will have to be inspected after the company and regulators discovered a potential flaw in a pressure switch that could lead to pilots becoming incapacitated. The Federal Aviation Administration (FAA) said airlines and operators should inspect cabin pressure switches, which help ensure there’s sufficient air to breathe as planes ...

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• 18 July

  Lulus is planning IPO at $1b value

  Bloomberg Lulus, the online retailer that focuses on female apparel, is planning an initial public offering this year, according to people with knowledge of the matter. The Chico, California-based company is working with Goldman Sachs Group Inc and Bank of America Corp on the planned listing, said the people who asked not to be identified discussing private information. The company ...

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• 18 July

  Will the climate war become class warfare?

  

  Trade in coal and steel powered the European Union’s formative years. Now the bloc wants to lead the world on climate responsibility, with a bumper package of proposals from expanding an emissions-trading system to banning fossil fuel cars to reach its 2050 target of carbon neutrality. But for all the aspirational visions, there are justified jitters that the European project’s ...

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• 18 July

  Facebook plans to pay $1b to creators

  

  Facebook Inc is betting big to get its piece of the creator economy. But even for a dominant technology platform, money alone doesn’t guarantee success. The company announced plans to pay more than $1 billion to creators by the end of 2022 for making content on its platforms — from providing initial seed money to giving bonuses based on certain ...

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• 18 July

  Why the Gen Z Britons dread Freedom Day

  As of July 19, people in England will be able to host house parties and weddings with unlimited guests, crowd into music and sporting venues. It’s the summer of fun that young adults and teens have been yearning for. But will they really be able to enjoy it, and at what cost? As Covid cases soar again, many millennials and ...

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