July, 2021

• 6 July

  Enoc, Meisheng renew deal to distribute lubricants in China

  

  Dubai / WAM Enoc group has renewed its agreement with Meisheng Investment Development Co. Ltd for another five years, for the exclusive supply and distribution of Enoc Lubricant products in China. The agreement enables Enoc to achieve its ambitious plans of distributing more than 20 million litres of products over the next five years; meeting the increasing demand for lubricants, ...

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• 6 July

  ‘100 Million Meals’ drive: Over 750,000 meals reach Tanzania, Kenya, Senegal

  

  DUBAI / WAM The “100 Million Meals” campaign’s food parcels distribution has been completed in Tanzania, Kenya and Senegal, providing more than 750,000 meals to low-income individuals and families. In collaboration with the Mohammed bin Rashid Al Maktoum Humanitarian and Charity Establishment (MBRCH) and the local authorities and charities, parcels of easy-to-store food items, including rice, flour, oil, and sugar, ...

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• 6 July

  Cultural exchange makes us all stronger, says Zaki Nusseibeh

  

  Abu Dhabi / WAM Zaki Nusseibeh, Cultural Advisor to the UAE President and Supreme President of UAE University (UAEU), has emphasised that the UAE cultural diplomacy is based on the principle that “cultural exchange makes us all stronger because we share the same human values.” During a virtual seminar organised by the UAE Embassy in Kuwait entitled “Culture and its ...

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• 6 July

  EAD implements executive law to improve marine water quality

  

  Abu Dhabi / WAM The Environment Agency – Abu Dhabi (EAD) has begun implementing an executive regulation regarding marine water quality in Abu Dhabi. The regulation was approved by the agency’s Board of Directors to combat the deterioration of ambient marine water and sediment quality by applying measures to environmental impact assessment studies and environmental licencing applications. It strengthens the ...

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• 6 July

  Huge methane leak spotted in heart of China’s top coal hub

  

  Bloomberg A massive plume of methane, the potent greenhouse gas that’s a key contributor to global warming, has been identified in China’s biggest coal production region. The release in northeast Shanxi province is one of the largest that geoanalytics company Kayrros SAS has so far attributed to the global coal sector and likely emanated from multiple mining operations. Details captured ...

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• 6 July

  France says it’s difficult to meet EU requests on EDF reform

  

  Bloomberg French Finance Minister Bruno Le Maire said it will be difficult for the country to accept the European Commission’s requests regarding a proposed reorganisation of Electricite de France SA tied to regulatory reform. “It seems very complicated to explain to the French — not to mention EDF employees — that we’ll give in to the demands of the European ...

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• 6 July

  India needs a new round of bankruptcy reform

  

  Five years ago, India came up with a legal answer to its perennial economic challenge of rescuing the money stuck in zombie firms. Unlike China, which has the cushion of high savings, India’s inefficient use of limited domestic capital has meant a chronic inability to put its swelling ranks of youth to work. After toying with the idea for more ...

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• 6 July

  For Didi, US is a fairyland of amateurs

  

  The Chinese have a nickname for unsophisticated stock investors. They call them chives, a healthy crop that can flourish soon after planting, which keep coming up again and again — just like the chumps chasing meme stocks and blank-check companies for spectacular returns. The US market seems to be the perfect place for Chinese companies to harvest chives. This sure ...

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• 6 July

  UK’s Sunak is a realist in financial deals with EU

  As Kenny Rogers sang in “The Gambler”: “You’ve got to know when to hold ‘em, know when to fold ‘em, know when to walk away.” UK Chancellor of the Exchequer Rishi Sunak has apparently taken that lesson to heart. He called an end to the drawn-out negotiations with the European Union to agree on so-called equivalence, or common regulations on ...

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• 6 July

  What does 8% growth mean amid deaths?

  A tidy financial centre of 5.7 million people is gradually preparing for life after the pandemic, as vaccination rates increase, social distancing measures ease and residents once again dare to daydream about leisure travel. A short ferry ride away, a sprawling archipelago with a population of 270 million is struggling to get oxygen, daily Covid cases are north of 20,000 ...

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