June, 2021

• 22 June

  Expo 2020: Pakistan pavilion’s theme, logo unveiled

  Dubai / WAM Pakistan has unveiled its logo for Expo 2020 Dubai and the theme at a grand media unveiling event in the presence of ministers and top government officials. Under its theme “The Hidden Treasure”, with an inviting façade and an immersive walkthrough experience inside, it aims to showcase Pakistan’s vast opportunities in tourism, commerce and investment to the ...

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• 22 June

  Sharjah, Kazakhstan discuss ways to bolster economic cooperation

  

  Sharjah / WAM The Sharjah Chamber of Commerce and Industry (SCCI) discussed ways to strengthen economic cooperation, develop trade relations and mutual investment between the Emirate of Sharjah and the Republic of Kazakhstan, during the visit of a high-level delegation from the country at its headquarters, on Monday. The two sides discussed strengthening cooperation in many areas, and promising investment ...

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• 22 June

  UAE, Belarus explore role of halal certification system

  

  Abu Dhabi / WAM The Ministry of Industry and Advanced Technology (MoIAT) has hosted a halal certification webinar in cooperation with the Belarusian Chamber of Commerce and Industry (BeICCI), where they explored the role of the halal certification system in increasing the supply of food products to Islamic markets, product conformity assessment, as well as facilitating the movement of goods ...

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• 22 June

  Did President Biden just issue a red line to Putin?

  

  Did President Joe Biden just issue a red line to Russian leader Vladimir Putin? When Biden described the warning he presented to Putin on cyberattacks, it certainly sounded like one. This is both surprising and potentially problematic, but could also spur much-needed progress in the development of norms and doctrine in cyberspace. Biden called his handing to Putin a list ...

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• 22 June

  Morrison makes for $8b PE catnip

  

  US buyout group Clayton, Dubilier & Rice LLC has chosen a soft target in approaching Wm Morrison Supermarkets Plc with a 5.5 billion pound ($7.6 billion) takeover proposal. The UK grocer says the price is too low. But its defenses are weak and it could have a fight on its hands to stay independent. The only surprise about CD&R’s 230 ...

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• 22 June

  Get ready for ‘chaos’ in container shipping

  The world’s cargo ships just can’t seem to get their act together. First there were the queues at the twin ports of Los Angeles and Long Beach, which left as many as 40 container vessels awaiting a berth in early February amid a flood of traffic. Combined volumes at the terminals hit a record of 1.9 million containers in May, ...

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• 22 June

  Will Senator Manchin be a voting rights hero?

  Senator Joe Manchin carries a fateful burden. By quirk of gridlock, he is literally the swing vote between two warring visions for the vote itself. If he gives his decisive 50th vote in the Senate to pass S. 1 — the For the People Act — millions are sure to revolt against perceived tyranny from Democrats expanding the franchise with ...

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• 22 June

  UK’s Morrisons shares surge 33% after takeover approach

  

  Bloomberg Wm Morrison Supermarkets Plc surged above the value of Clayton Dubilier & Rice LLC’s 5.5 billion-pound ($7.6 billion) bid, indicating the private equity firm may have to pay significantly more or fend off rival offers for Britain’s fourth-largest grocer. The supermarket operator, which employs close to 110,000 people in Britain, has already rejected the 230 pence-a-share proposal that was ...

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• 22 June

  Norwegian Air replaces CEO after restructuring

  

  Bloomberg Norwegian Air Shuttle ASA replaced its chief executive officer after exiting insolvency proceedings, as the low-cost airline rebuilds its operations as a regional carrier. The board voted to end the contract of CEO Jacob Schram, according to a statement. He was replaced by Chief Financial Officer Geir Karlsen, who spent about six months as interim CEO in 2019. Karlsen ...

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• 22 June

  Tag Heuer’s CEO sees current year’s sales reaching 2019 level

  

  Bloomberg The CEO of Tag Heuer — the maker of luxury watches beloved by athletes — expects sales to recover to 2019 levels this year after last year’s pandemic shock. The forecast of the brand owned by luxury group LVMH comes as the industry became more polarised amid lockdowns last year. The largest privately-owned timepiece brands such as Rolex outperformed, ...

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