November, 2020

• 11 November

  UAE countering Covid-19 with digital health services

  

  Abu Dhabi / WAM The Covid-19 pandemic is a global challenge that highlighted the necessity of updating the health sector’s methods of operating and improving digital health services and telemedicine. The digital health services provided by the UAE during the pandemic have helped ensure the safety of the community and offered healthcare services without requiring people to travel to medical ...

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• 11 November

  Adnoc Distribution 9-month net profit reaches AED1.58bn

  

  Abu Dhabi / WAM Adnoc Distribution reported on Wednesday that its underlying Ebitda for the first nine months of 2020 grew to AED2,554 million, with net profit of AED1,581 million. For the third quarter, underlying Ebitda (Earnings before interest, taxes, and amortisation) was AED 1,132 million, while net profit stood at AED 671 million. Free cash flow generation remained solid ...

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• 11 November

  Etihad unveils 49-hour National Day sale

  

  Abu Dhabi / WAM Etihad Airways announced a 49-hour National Day sale where customers can book a getaway with a AED 49 deposit and pay nothing until 21 days before their trip. “Travellers can jet off any time before September 30, 2021 for less, and lay back and relax at a luxury resort, explore ancient architecture or spend the weekend ...

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• 11 November

  UAE, Cyprus convene inaugural virtual joint committee meeting

  

  Abu Dhabi / WAM Ahmed Ali Al Sayegh, UAE Minister of State, and Nikos Christodoulides, Minister of Foreign Affairs of the Republic of Cyprus, on Wednesday convened the inaugural virtual meeting of the UAE-Cyprus Joint Committee. In his remarks, Al Sayegh affirmed the strength of the two countries’ bilateral relationship, and pointed to the growing cooperation that the UAE and ...

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• 11 November

  Dafza welcomes economic delegation from Israel

  

  Dubai / WAM Dubai Airport Freezone Authority (Dafza) welcomed a senior economic delegation from Israel. The visit aims to discuss the prospects for strategic relations in various fields to encourage and increase foreign investment flows. This initiative will enhance joint action to explore promising opportunities that await Dafza and the Israeli economic and commercial entities represented in the delegation. Dr ...

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• 11 November

  China, US ink LNG deal since trade war

  

  Bloomberg China inked its first term deal to buy liquefied natural gas (LNG) from an American exporter since the trade war disrupted deliveries, a sign of confidence that relations with the US could be normalising. Foran Energy Group said it signed a framework agreement with US producer Cheniere Energy Inc to purchase 26 cargoes between 2021 and 2025. The deal ...

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• 11 November

  Shell wants reversal of ‘methane emissions’

  Bloomberg Royal Dutch Shell Plc will push for the reversal of President Donald Trump’s rollback of methane emissions rules and the introduction of carbon pricing when Joe Biden moves into the White House next year. “Some of the regulatory rollbacks that we’ve seen under the current administration haven’t actually benefited our industry,” Shell US President Gretchen Watkins said. The oil ...

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• 11 November

  The populists may regret their embrace of Trump

  

  We know that US President Donald Trump loves strongmen. He was famously soft on Vladimir Putin’s Russia; he welcomed Hungary’s xenophobic Viktor Orban to Washington by saying he had done “the right thing” by restricting immigration; and he said he got along better with world leaders “the tougher and meaner they are”. And the strongmen loved him back. Orban wrote ...

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• 11 November

  Adidas’s bet on rebirth of Reebok

  

  Will Dad sneakers be enough to save Reebok? Bloomberg News has reported that Germany’s Adidas AG is exploring a sale of the shoe brand, which could be worth between about 1.5 billion euros ($1.8 billion) and 2.5 billion euros. Private equity groups Permira and Triton are circling the division, the Financial Times reported. There was no word from Adidas on ...

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• 11 November

  Beijing tore up China’s giant internet playbook

  All the things that allowed China’s internet innovators to become big, powerful and hugely profitable are under threat. The implications are chilling for established players. Draft rules detailed by China’s antitrust watchdog are aimed at rooting out monopolistic practices among internet companies, Bloomberg News reported. That could be invigorating for potential challengers to industry leaders such as Alibaba Group Holding ...

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