August, 2020

• 31 August

  Dubai Investments extends support to Lebanon in wake of recent blasts

  

  Dubai / WAM Dubai Investments – as part of its humanitarian efforts – has extended its support to the country of Lebanon in the wake of the recent explosions that struck the country early this month. As part of the company’s efforts reiterating its solidarity and supporting with needful aid, emergency medical supplies and glass for window panel replacements has ...

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• 31 August

  UAE condemns Houthi attempt to target Abha Airport

  

  Abu Dhabi / WAM The UAE has condemned the Iranian-backed Houthi terrorist militia’s attempt to target Abha International Airport in Saudi Arabia using an explosive drone, which was intercepted by Arab Coalition forces on Sunday. In a statement released by the Ministry of Foreign Affairs and International Cooperation, the UAE reiterated its full solidarity with Saudi Arabia against all threats ...

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• 31 August

  UAE consumer spending continues to grow in Aug

  

  Abu Dhabi / WAM In a sign that bodes well for an eventual market recovery after the coronavirus, consumer spending in the UAE continues to increase for the third straight month, jumping 63 percent in August as compared to March, according to statistics released by the Federal Competitiveness and Statistics Authority (FCSA). Hoteliers were among the top beneficiaries, as spending ...

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• 31 August

  Veolia offers $3.5b for Suez stake

  

  Bloomberg Veolia Environnement SA offered 2.9 billion euros ($3.5 billion) for a 29.9% stake in French rival Suez SA, reviving an eight-year-old attempt to create a world leader in waste and water services. Veolia offered to acquire the stake from energy giant Engie SA for 15.50 euros a share in cash, 27% more than where the target closed, Veolia said ...

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• 31 August

  Activists target Samsung C&T over coal project

  

  Bloomberg Activist climate investors warned Samsung C&T over its potential involvement in a new coal power plant in Southeast Asia amid mounting global pressure to halt use of the dirtiest fossil fuel. Investment arms of Legal & General Group Plc, the UK’s biggest manager of corporate pension schemes, Norway’s KLP Kapitalforvaltning AS and Helsinki-based Nordea Bank Abp, have urged the ...

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• 31 August

  Nigeria oil firm to start mini-refinery in Sept

  

  Bloomberg Waltersmith Petroman Oil Ltd, a Nigerian independent producer, will open a 5,000-barrel a day capacity modular refinery in Africa’s top crude producer that imports all of its refined-product needs. The company, Nigeria’s first producer from marginal fields, plans to increase output to 30,000 barrels a day in two years, Chief Executive Officer Chikezie Nwosu said at a webinar. Nigeria ...

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• 31 August

  Now’s the time for India to make a deal with US

  

  America’s elections provide a narrow window of opportunity for its trading partners. Across the world, negotiators will have seen a man from Maine given a prime spot at the Republican National Convention: Lobsterman Jason Joyce spoke about how President Donald Trump had “brokered a deal to end European Union tariffs of 8% on Maine live lobsters and up to 20% ...

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• 31 August

  Would you stay in a Louis Vuitton hotel?

  

  Before the novel coronavirus hit, the world’s bling behemoths were pulling out the stops to sell “experiences” where their jet-setting customers could indulge in opulent lodging and dining, all while posting photos of themselves on Instagram. Between 2010 and 2019 demand for experience-based luxury, including gourmet food, outstripped that for personal goods, such as watches and handbags. Then Covid-19 upended ...

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• 31 August

  China called Trump’s bluff on TikTok app

  Imagine a bidder wanting to buy KFC, but being told the deal might not include the Colonel’s 11 secret herbs and spices. That’s effectively what Beijing has told the list of US companies keen to purchase short-video app TikTok: The key ingredients may be out of reach. At first it looked like the Trump administration had it all figured out. ...

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• 31 August

  Can US expats renounce their citizenship soon?

  The swearing in of new citizens often makes news in the US, especially if it happens in unusual circumstances such as one party’s national convention. Much less reported are the many citizenship renunciations by Americans, and the travails leading up to these life decisions. Almost all those giving up their US nationality are expats. And for each renouncer going through ...

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