October, 2020

• 6 October

  UAE’s auto loans dip 7.6%

  

  ABU DHABI / WAM Auto loans declined by 7.6 percent while property financing increased 2.9 percent during 2019, according to the statistics of the central bank of the United Arab Emirates. The apex bank’s figures indicated a drop of 2.3 percent in retail loans allocated to households in a sign reflective of an increased tendency towards spend optimisation among individuals. ...

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• 6 October

  UAE announces 1,146 new recoveries from Covid-19

  

  Abu Dhabi / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted 102,379 additional Covid-19 tests over the past 24 hours, using state-of-the-art medical testing equipment. In a statement, the ministry stressed its aim to continue expanding the scope of testing nationwide to facilitate the early detection of coronavirus cases and carry out the necessary treatment. As ...

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• 6 October

  Over 200 tonnes of aid sent to Sudan flood victims

  Fujairah / WAM The Fujairah Charitable Society sent 200 tonnes of food and clothing to Sudan, as part of UAE’s humanitarian aid bridge provided by UAE to Sudanese people following the floods that hit the country. The aid was delivered with the support and directives of HH Sheikh Hamad bin Mohammed Al Sharqi, Supreme Council Member and Ruler of Fujairah. ...

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• 6 October

  Switzerland to take off for Expo 2020 Dubai Space Week

  

  DUBAI / WAM Switzerland reaffirms its commitment to the success of the Expo 2020 Dubai, which will run from October 1, 2021 to March 31, 2022, and marks one year to go to the upcoming World Expo. On this occasion, the Swiss Pavilion took part in the first Pre-Expo event October, which was dedicated to space. The Expo offers a ...

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• 6 October

  IPhone delay interrupts that supply chain rhythm

  

  For the first time since 2011, Apple Inc didn’t release a version of its flagship iPhone in September. That delay has had a massive ripple effect through its network of vendors, which makes parsing supply-chain data even more challenging than usual. Since at least March, we knew that the next installment of the iconic device would be pushed back due ...

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• 6 October

  Who will get Covid-19 vaccine first

  

  After eight months of chaos and more than 1 million deaths worldwide, we might soon have a vaccine for the novel coronavirus. With as many as 150 vaccines in development — nearly 40 in late-stage clinical trials — it could come by the end of this year, although most experts see 2021 as more likely. Getting a vaccine is one ...

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• 6 October

  And the expat model is broken in Singapore!

  Something big is missing from Singapore’s picturesque and impeccably maintained highway linking downtown with Changi Airport: traffic. The collapse in international travel has hit the city-state especially hard. Borders are shut to tourists and much of Singapore Airlines Ltd’s proud fleet is mothballed. The idea of “flights to nowhere” had even been floated — effectively three-hour sight-seeing trips that would ...

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• 6 October

  Russia’s second wave raises economic risks

  Russia has done better than expected in the face of a pandemic and unprecedented oil crisis. That relative stability masks weaknesses that will impede its ability to recover fast, even if it can limit the cost of a second wave. Coronavirus cases are surging again: Russia reported nearly 11,000 new infections on October 05, the most since mid-May. Only around ...

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• 6 October

  Southwest Air targets pay cuts in bid to avert layoffs

  

  Bloomberg Southwest Airlines Co will seek to cut employee compensation in a last-ditch effort to avoid the first involuntary layoffs in the company’s 49-year history. The company wants to have givebacks in place by January 1, CEO Gary Kelly told employees in a video message, warning that “we all need to sacrifice more.” Kelly won’t receive a salary through the ...

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• 6 October

  Amazon extends its festive sales to one month in India

  

  Bloomberg Amazon.com Inc is extending its Diwali sales event to an entire month this year, hoping to outdo rival Walmart Inc‘s Flipkart in the race to unlock latent demand as India’s shoppers emerge from drawn-out pandemic lockdowns. Both Amazon and Flipkart are pulling out all the stops for the country’s most important shopping season, which starts in mid-October. But unlike ...

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