May, 2021

• 25 May

  EGA unveils new corporate purpose

  

  ABU DHABI / WAM Emirates Global Aluminium (EGA) on Monday announced its newly-defined corporate purpose: Together, innovating aluminium to make modern life possible. By fulfilling its purpose in the years and decades to come, EGA will also achieve its new mission to generate value from mining to metal. EGA is the world’s largest producer of ‘premium aluminium’, with smelters in ...

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• 25 May

  ERC launches vaccination programme for 12,000 Syrian refugees in Jordan

  

  AMMAN / WAM The Emirates Red Crescent (ERC) has launched the first phase of vaccination programme for Syrian refugees in the Jordanian camps to help the country confronts the coronavirus pandemic. The programme aims to vaccinate 12,000 refugees in the Emirati-Jordanian camp of Mrajeeb Al Fhood and camps of Zaatari, Al Azraq and Al Hadiqa with the Sinopharm vaccine. The ...

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• 25 May

  Dubai Economy issues 15,475 new licenses during Q1 2021

  

  DUBAI / WAM The Business Registration and Licencing (BRL) sector of Dubai Economy issued 15,475 new licences during the first quarter of 2021, a growth of 19 percent compared to Q1 2020, when 13,027 licences were issued. This highlights the resilience of the business environment of Dubai and the emirate’s economic competitiveness and ability to attract businesses to across various ...

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• 25 May

  Talen Energy plans push into crypto, creditors frown

  

  Bloomberg Talen Energy Corp, a debt-laden power producer operating in the US Northeast and Texas, unveiled a sweeping plan to focus more on clean energy and expand into crypto mining. Its bondholders aren’t sold. The Woodlands, Texas-based company pitched prospective investors on the strategy, which would require it to raise as much as $800 million in new equity to fund ...

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• 25 May

  How Brits can visit Spain, Italy, Greece this summer

  

  Britain’s guidance on where Brits can go on holiday is about as clear as a pair of sunglasses smudged with sunscreen. This is creating headaches for everyone: people trying to plan vacations; countries like Spain and Greece that depend on summer tourists; and travel companies such as EasyJet Plc, Ryanair Holdings Plc and TUI Plc. Johan Lundgren, chief executive officer ...

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• 25 May

  Cars may get a lot more expensive

  

  Cars are about to get a lot more expensive. Manufacturers and drivers should brace themselves. The price of everything that goes into a vehicle is going up. Raw materials — from the steel used for bodies, gear parts and frames to the plastic that winds up in bumpers and doors trims — account for a big portion of manufacturing costs. ...

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• 25 May

  Will cryptocurrencies volatility continue?

  With the volatility of cryptocurrencies likely to persist — Bitcoin alone traded in a $30,000-to-$44,000 range last week — more people are wondering whether this will spell trouble for other financial assets such as stocks and bonds. The answer to this “crypto contagion” question, if considered narrowly, is no. It gets more complicated, however, in the broader market context, particularly ...

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• 25 May

  How to combat money laundering in Europe

  Good luck finding a major bank in Europe that hasn’t breached money laundering regulations. In Denmark, the two largest banks, Danske Bank and Nordea, are both currently subject to criminal investigations. BNP Paribas received the highest-ever fine in 2014, when it settled with US authorities and had to pay $9 billion for sanctions violations. Many others — from HSBC and ...

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• 25 May

  Airbus backs lightweight wing to preserve lead over Boeing

  

  Bloomberg A good decade ago, Airbus SE added more fuel-efficient engines to its A320 aircraft family, giving its already bestselling model a dramatic demand boost. Now the European company is seeking to repeat that success, this time with a new set of wings. Airbus aims to produce a composite wing that’s both affordable and capable of a high production rate, ...

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• 25 May

  Auchan weighs Asia exit in $400 million stake sale

  

  Bloomberg Auchan Retail is considering selling its stake in a group of RT-Mart-branded stores in Taiwan and is seeking $300 million to $400 million, people familiar with the matter said. The French supermarket chain is working with an adviser to find a buyer for its 65% stake in the retail locations, the people said, asking not to be identified as ...

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