June, 2021

• 8 June

  UAE sees 1,933 new recoveries from Covid-19

  

  Abu Dhabi / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted 208,090 additional Covid-19 tests over the past 24 hours, using state-of-the-art medical testing equipment. In a statement on Monday, 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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• 8 June

  MBRHE, FAB partner to provide housing finance for UAE nationals

  

  Abu Dhabi / WAM First Abu Dhabi Bank (FAB) announced the signing of an agreement with the Mohammed bin Rashid Housing Establishment (MBRHE) to provide flexible financing options for UAE nationals seeking suitable family housing. The agreement comes as part of the ‘Al Yusr’ programme, one of the housing establishment’s initiatives aimed at providing the best financing options for nationals ...

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• 8 June

  Air Arabia announces new service to Phuket

  

  SHARJAH / WAM Air Arabia has announced the introduction of a new service to Phuket, Thailand, with direct flights from Sharjah International Airport starting on July 2. Air Arabia is the first low-cost carrier in the region to launch a direct route to Phuket. The Tourism Authority of Thailand has confirmed that travellers who have been vaccinated against Covid-19 from ...

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• 8 June

  Dewa organises Wetex, Dubai Solar Show at Expo 2020 Dubai

  

  Dubai / WAM Dubai Electricity and Water Authority (Dewa) announced it will organise the 23rd Water, Energy, Technology, and Environment Exhibition (Wetex) and Dubai Solar Show from October 5-7, at Expo 2020 Dubai. Dewa is the Official Sustainable Energy Partner of Expo 2020 Dubai. The announcement was made by Saeed Mohammed Al Tayer, MD and CEO of Dewa, Founder and ...

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• 8 June

  Is Yellen doing Powell a favour on raising rates?

  

  Janet Yellen may be doing a solid for Jerome Powell, her successor at the helm of the Federal Reserve. Yellen, now Treasury secretary, says higher interest rates would be beneficial for the US economy. Both borrowing costs and inflation have been too low for the past decade. “If we ended up with a slightly higher interest rate environment, it would ...

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• 8 June

  Ireland doesn’t buy that many iPhones

  

  If you want an example of how major Western companies manage their great taxation sidestep, take a look at Apple Inc’s chief supplier. Hon Hai Precision Industry Co, the flagship of Foxconn Technology Group and the largest assembler of iPhones, booked $57.4 billion in revenue from the Republic of Ireland in 2020, according to its annual report. That’s around 25% ...

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• 8 June

  Digital yuan may prove Hong Kong dollar cousin

  The stronger the interest in China’s coming digital currency, the less we seem to know about it. Sifting through comments by officials thought to be the brains behind the project, Capital Economics’ chief Asia economist Mark Williams has raised an interesting question: What if the e-CNY, as some are beginning to call the new electronic cash, is not at all ...

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• 8 June

  The ECB has far worse troubles than inflation

  Break out the ticker tape — it’s happened at last. It took an unprecedented pandemic stimulus package to do it, but euro-area inflation has reached the European Central Bank’s (ECB) eternally out of reach 2% target. What should the ECB do next? Precisely nothing. The recovery from the pandemic has triggered surging inflation across the world but it’s partly a ...

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• 8 June

  China’s trade boom continues to surge on high global demand

  

  Bloomberg China’s exports continued to surge in May, although at a slower pace than the previous month, fuelled by strong global demand as more economies around the world opened up. Imports soared, boosted by rising commodity prices. Exports grew almost 28% in dollar terms in May from a year earlier, the customs administration said on Monday, weaker than forecast and ...

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• 8 June

  SoftBank-backed firm files bankruptcy in US

  

  Bloomberg Construction firm Katerra Inc filed for bankruptcy protection in the US, bookending the implosion of a startup that raised about $2 billion from investors including SoftBank Group Corp. The company filed Chapter 11 proceedings in the Southern District of Texas court. It estimated liabilities of $1 billion to $10 billion and assets of $500 million to $1 billion. The ...

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