October, 2020

• 27 October

  Free parking in Abu Dhabi on Thursday

  

  ABU DHABI / WAM The Integrated Transport Centre (ITC) of the Department of Municipalities and Transport in Abu Dhabi has announced that parking bays will be free of charge during the Prophet Mohammed’s birthday holiday, starting from Thursday until 7:59 am Saturday. In a statement on Tuesday the ITC also called upon drivers not to park in prohibited areas or ...

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• 27 October

  UAE, Uzbekistan to enhance economic cooperation

  

  DUBAI / WAM The export credit agencies (ECAs) of the UAE and Uzbekistan have agreed to bolster and reinforce the trade and economic alliance between the two countries by exploring and boosting opportunities in the export of goods and services. This follows UAE and Uzbekistan’s last month announcement of their expanded partnership to include economy, manufacturing, and business incubators through ...

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• 27 October

  Africa’s only atomic plant bets $1.2 billion on a second life

  

  Bloomberg Eskom Holdings SOC Ltd, South Africa’s indebted power utility, started a billion-dollar round of investments in Africa’s oldest and only nuclear power plant before getting permission from safety regulators that the reactor’s lifetime can be extended. The decision to begin installing new steam generators at the Koeberg plant near Cape Town underscores state-owned Eskom’s confidence that it will win ...

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• 27 October

  Sudden and total clarity about the 2020 election

  

  The past few days have offered the most clarifying hours of American politics since the night of November 8, 2016. Four years ago, President Donald Trump’s unlikely victory put the world on notice that the US was slamming the brakes on the 21st century. Last weekend, the White House and Congress defined the 2020 election in the starkest terms yet. ...

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• 27 October

  Your 5G is about to get much better

  

  Apple Inc has finally joined the 5G party, and it’s a well-timed entrance. Often derided for being late to new technologies, and rightly so, the launch of its first 5G iPhones coincides with some important changes to be rolled out by the telecoms industry this quarter. As a result, wireless connections are going to get better and smartphone performance should ...

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• 27 October

  South Korea is winner of the WFH economy

  South Korea is in something of a sweet spot for the Covid-19 era. Neighbouring China, its biggest trading partner, is driving the global rebound and the world increasingly wants the technology that Korea sells. Gross domestic product figures are encouraging. The economy expanded 1.9% in the third quarter from the prior three months, the government reported on Tuesday, exceeding forecasts ...

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• 27 October

  Can China’s Covid-19 recovery continue?

  In China’s post-Covid economy, there may be hope for the struggling private sector made up of millions of small businesses. It needs to stay that way. Unlike previous recoveries, fixed asset investment in the private sphere is rising, continuing an upward trend by climbing 9.1% in September compared to a year earlier, while growing at a slower pace in the ...

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• 27 October

  Japan’s ANA forecasts its biggest ever loss of $4.8b

  

  Bloomberg ANA Holdings Inc forecast its biggest-ever operating loss of 505 billion yen ($4.8 billion) for the fiscal year through March 2021, the latest airline to face an existential threat to its business due to the pandemic. The Japanese carrier unveiled a restructuring plan that calls for: A newly branded low-cost carrier in addition to Peach, the budget airline already ...

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• 27 October

  Lufthansa abandons offices to slash costs

  

  Bloomberg Deutsche Lufthansa AG told staff that winter schedule cutbacks will cause it to bench an additional 125 aircraft and temporarily close large parts of its administrative operations. The reduction will cut the carrier’s active fleet back to the level it operated in the 1970s, with the impact filtering through its operations, it said in a letter to employees seen ...

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• 27 October

  Airlines face ‘survival test’ on recovery delayed by virus

  

  Bloomberg The resurgent Covid-19 pandemic is pushing back the recovery in air travel, turning winter into a survival test for carriers now pinning hopes on a spring rebound. Airlines are urging governments to introduce more testing and travel bubbles to help spur demand. The industry is on track to burn through an estimated $77 billion in cash the second half. ...

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