July, 2021

• 13 July

  Nasdaq Dubai welcomes listing of Emaar Properties’ $500m sukuk

  

  Dubai / WAM Jamal Bin Theniyah, Chairman of Emaar Properties, on Tuesday rang the market-opening bell to celebrate the listing of a $500 million sukuk on Nasdaq Dubai. The ceremony was attended by Ahmad Al Matrooshi, Executive Board Member of Emaar Properties; Rashid Al Shamsi, Board Member of Nasdaq Dubai; and Hamed Ali, CEO of Nasdaq Dubai and Deputy CEO ...

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• 13 July

  EGA starts second phase of Al Taweelah smelter expansion

  

  Abu Dhabi / WAM Emirates Global Aluminium (EGA), the largest industrial company in the United Arab Emirates outside oil and gas, on Tuesday announced the start-up of the second phase of its expansion to Al Taweelah smelter in Abu Dhabi. The expansion adds 26 new reduction cells to Potline 2, boosting production capacity by over 30,000 tonnes of hot metal ...

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• 13 July

  UAE sends 500,000 Covid-19 vaccine doses to Tunisia

  

  TUNIS / WAM The UAE has dispatched an aircraft carrying 500,000 doses of the Covid-19 vaccine to Tunisia to curb the spread of the virus. This urgent response comes in line with the directives of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to enhance the ...

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• 13 July

  Trakhees records over 27,000 transactions in Dubai

  

  Dubai / WAM Trakhees, the regulatory arm of the Ports, Customs and Free Zone Corporation (PCFC) in Dubai, succeeded in processing more than 27,000 transactions involving commercial and engineering licencing services during the first half of 2021. Abdullah Belhoul, CEO of the Department of Planning and Development at Trakhees, stated that PCFC is constantly working to maintain its excellence to ...

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• 13 July

  FTA uncovers tax violations worth AED71.48m

  

  ABU DHABI / WAM The Federal Tax Authority (FTA) has intensified its inspection campaigns in the local markets in collaboration with the Ministry of Economy, the Federal Customs Authority and other competent authorities to ensure compliance with tax legislation and procedures, as well as protecting consumers from trafficked products that do not meet quality specifications approved within the UAE. In ...

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• 13 July

  A hot Indian food IPO during a tech cold war

  

  India’s current rate of spawning unicorns, or startups with at least a billion dollars in valuation, is almost three per month. But all that action is in private markets; practically nothing of the digital economy trades publicly. Which explains the nervous excitement over this week’s initial public offering by one of the country’s two dominant online food-delivery services. As China ...

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• 13 July

  Netflix proves it’s essential at all times

  

  As earnings season begins, one of the biggest emerging storylines is that Netflix Inc’s most formidable rivals, led by Walt Disney Co, already may be starting to falter. If Disney can’t get to where Netflix is, can anyone? Netflix is set to kick off the industry’s quarterly reports next week on July 20, while investors will have an anxious wait ...

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• 13 July

  EU’s march towards living with Covid-19

  “Living” with Covid-19 has been talked about since the pandemic first began: A moment when the coronavirus disease becomes part of everyday life, rather than an overpowering wave of cases and deaths that overloads hospitals and triggers society-crushing lockdowns. This so-called “endemic” phase would see Covid-19 look more like influenza, with regular vaccine campaigns and a focus on primary care. ...

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• 13 July

  Is the ECB ready for its credibility test now?

  The European Central Bank’s (ECB) first strategy review in 18 years is about to get its first credibility test. President Christine Lagarde has fired the starting gun for the implementation of the ECB’s new policy framework. Just over a week from now, it will issue updated forward guidance on policy rates. That will be in preparation for a fresh program ...

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• 13 July

  Venezuelan security forces threaten Guaido, arrest ally

  

  Bloomberg Venezuelan opposition leader Juan Guaido said heavily-armed security officers penetrated his apartment building, threatening him with arrest, and detained Freddy Guevara, a top lieutenant, in a separate operation. Surrounded by neighbours who came to support him, Guaido said the men coming for him had set off an explosive. He reported no injury. Those who took Guevara pointed long weapons ...

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