May, 2021

• 19 May

  Sheikh Zayed Book Award unveils its cultural program at ADIBF 2021

  

  Abu Dhabi / WAM Sheikh Zayed Book Award (SZBA) revealed its cultural programme for the 30th edition of the Abu Dhabi International Book Fair (ADIBF), which will be held between May 23 and 29. In advance of its participation at ADIBF, SZBA has revealed its cultural programme during the week of the fair, which will comprise panel discussions involving winners ...

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• 19 May

  Sharjah announces availability of businesses through mobile vehicles

  

  SHARJAH / WAM Sharjah Economic Development Department (SEDD) implemented the directives of Sharjah Executive Council regarding the regulation of conducting economic activities through mobile vehicles and trucks in the emirate of Sharjah. Such thing falls within SEDD’s concerns to regulate and organise the economic sector in Sharjah at all levels through setting policies, standards, regulations, decisions and executive circulars in ...

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• 19 May

  Gasoline pinch to grind on for weeks

  

  Bloomberg Drivers encountering fuel shortages in parts of the US East and South may find it takes weeks before supply levels return to normal. Now that Colonial Pipeline Co has resumed deliveries that were halted for nearly a week by a cyberattack, the industry is facing a new logistics problem on top of the lack of available fuel: not enough ...

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• 19 May

  Adani Green in advanced talks to acquire SB Energy

  Bloomberg Adani Green Energy, majority-owned by Indian billionaire Gautam Adani, is in advanced talks to acquire privately-held SB Energy, according to people familiar with the matter. A deal could value SB Energy, owned by SoftBank Group Corp and Bharti Enterprises, at more than $650 million, said one of the people, who asked not to be identified as the information is ...

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• 19 May

  Cash is out as Southeast Asia super-apps bulk up

  

  The rivalry between Southeast Asia’s leading super-apps just got more intense — and more intensely oriented towards fintech. Last month, Singapore’s Grab Holdings Inc said it’s going public in the US through the largest-ever merger with a blank-check company. And now, Indonesia’s Gojek is merging with e-commerce firm PT Tokopedia to create a digital behemoth in the world’s fourth-most-populous nation. ...

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• 19 May

  Musk keeps trolling Bitcoin purists

  

  The future of money apparently looks something like this: Tesla Inc techno-king Elon Musk posts a one-word tweet — “Indeed” — that suggests his company may have sold its stash of Bitcoin. The cryptocurrency’s price sinks to a three-month low. Musk then posts a new tweet, clarifying that Tesla hasn’t sold any. Prices perk up again. Cue much gnashing of ...

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• 19 May

  Singapore’s lockdown is both blunt, precise

  Singapore has suffered a big reversal in its battle against Covid-19. More accustomed to applause than demerits for all but stamping out the virus, the city-state is returning to lockdown-like conditions. Authorities are now scrambling to deploy a mix of scalpels and hammers to contain a recent outbreak. Mastering this balance will be the key to any economic recovery. The ...

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• 19 May

  The BOE openings test economic pipeline

  The Bank of England (BOE) has four big job vacancies this year and there’s hope that several will be filled by women. Even if that happens, central banks still have some way to go to tackle the lack of diversity in policymaking. Without more progress, this risks becoming a crisis of legitimacy. Policymakers’ actions touch everyone. As a matter of ...

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• 19 May

  Alibaba leads investment of $400m in Vietnam retail firm

  

  Bloomberg Alibaba Group Holding and partners are investing $400 million in Vietnamese conglomerate Masan Group’s retail arm, a deal that will expand the Chinese e-commerce giant’s online groceries business in Southeast Asia. Alibaba and Baring Private Equity Asia are leading a consortium that will take a 5.5% stake in The CrownX, which holds Masan’s interests in Masan Consumer Holdings and ...

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• 19 May

  Russia’s Magnit to buy Dixy retailer for $1.25b

  

  Bloomberg Magnit PJSC, Russia’s largest grocery chain, plans to acquire Dixy Holding Ltd convenience-store network in a 92.4 billion ruble ($1.25 billion) deal, a move that will boost its presence in Moscow and St Petersburg. The price may be adjusted on net debt and net working capital changes as of the closing date, according to a statement. Pending regulatory approval, ...

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