December, 2020

• 7 December

  Tesla ordered to pay Chinese Model S buyer

  Bloomberg Tesla Inc was ordered by a Beijing court to compensate the buyer of a used Model S car after concluding the electric automaker concealed structural damage on a vehicle it sold on its official website. The court ruled that Tesla should pay more than 1.1 million yuan ($168,420) to compensate the buyer, after it was discovered that part of ...

  Read More »
• 7 December

  Christmas tree sellers run into surprise Covid costs

  

  Bloomberg Christmas tree vendors got a jump on sales this year as buyers looking to chase away pandemic blues started the season early. But all that demand may not necessarily translate into fat profits for sellers of evergreens or the farmers who grow them. “We typically see a wave of buying towards the second week of December, and the day ...

  Read More »
• 7 December

  Stock supply glut looms over market as firms suck in cash

  

  Bloomberg Voracious cash appetite among virus-strapped companies and a battered economy that makes buybacks tough to justify are warping supply and demand dynamics in the stock market, something for bulls to worry about heading into year end. While American firms normally repurchase way more stock than they sell, this year has been different, as offerings by everyone from Snowflake Inc ...

  Read More »
• 7 December

  Ethereum now more than crypto coder favourite: Grayscale

  

  Bloomberg While Bitcoin’s record-high grabs attention, its crypto compatriot Ethereum is continuing to broaden its appeal beyond the software programming crowd. Before this year, most investors’ first stop was Bitcoin, according to Michael Sonnenshein, managing director at Grayscale Investments LLC, which has investment products that track both and allows investments from institutional and accredited investors only. But the Ethereum blockchain, ...

  Read More »
• 6 December

  10 Million Meals campaign brings home global awards

  

  DUBAI / WAM The “10 Million Meals” campaign, which was launched to support Covid-19-hit communities in the UAE throughout the holy month of Ramadan, has bagged six Cresta Awards in creativity and innovation and five SHORTY Social Good Awards for driving positive impact in society. The campaign was also shortlisted for MEPRA Award’s Best Campaign in the Middle East in ...

  Read More »
• 6 December

  UAE leads innovation in $546b global smart cities market

  

  DUBAI / WAM The UAE is leading innovation in the world’s Smart Cities market, which is set to reach $546 billion by 2027, industry experts announced ahead of Gitex Technology Week 2020. Meticulous Research firm expects the global Smart Cities market to grow at 23 percent compound annual growth rate to $546 billion by 2027. Abu Dhabi and Dubai rank ...

  Read More »
• 6 December

  Abu Dhabi entity to exhibit digital services at Gitex 2020

  

  Abu Dhabi / WAM The Abu Dhabi Department of Economic Development (ADDED), is participating at the 40th edition of the “Gitex Technology Week” at the Dubai World Trade Centre, which will take place from December 06-10, 2020. ADDED will be joining the Abu Dhabi Government Pavilion to showcase four of its key smart services including “E-Investor’s Compass,” “Smart Emergency and ...

  Read More »
• 6 December

  Sharjah Ruler: Volunteering is a noble human value

  Al Ain / WAM On the occasion of International Volunteer Day (IVD), which is observed on December 5 every year, HH Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, affirmed that volunteering constitutes a noble human value, and is an important tributary to achieving the comprehensive development of societies and enhances the morals of ...

  Read More »
• 6 December

  Oil rises for fifth week with support from Opec+ deal

  

  Bloomberg Oil rose for a fifth straight week with support from an Opec+ deal and hopes for another round of US stimulus. Futures in New York and London closed at fresh nine-month highs, with signs that momentum is building towards a fiscal stimulus plan that could provide an immediate demand boost, before a vaccine is widely available. Prices had already ...

  Read More »
• 6 December

  Abu Dhabi judiciary holds meeting on labour disputes

  Abu Dhabi / WAM The Abu Dhabi Judicial Department (ADJD) has organised a symposium entitled ‘Problematic issues of labour disputes in government sector companies’ to raise awareness of the rights and duties of workers and employers, in accordance with the UAE laws. The symposium, which was held through videoconferencing, dealt with the legal procedures related to labour disputes, the mechanisms ...

  Read More »