August, 2020

• 5 August

  UAE consumer spending up 65% in June

  

  Abu Dhabi / WAM In a sign of that bodes well for an eventual market recovery after the coronavirus, consumer spending in the UAE increased by 65 percent in June 2020 as compared to March, according to statistics released by the Federal Competitiveness and Statistics Authority (FCSA). Hoteliers were among the primary beneficiaries, with spending jumping 15 percent in June ...

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• 5 August

  Over 665,000 business licences issued in UAE by end of July

  

  Abu Dhabi / WAM The total number of business licences issued in UAE at the end of July amounted to 665,246, a 1.9 percent increase compared to 652,885 licences issued in December 2019, according to the National Economic Register. Based on these figures, the issuance of licences in the country is expected to surge in the coming months, which will ...

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• 5 August

  Shurooq launches new tourism projects

  

  SHARJAH / WAM Marwan bin Jassim Al Sarkal, Executive Chairman of Sharjah Investment and Development Authority (Shurooq) announced during a live interview on Sharjah TV that the authority will be undertaking four new large-scale tourism and hospitality projects in Khor Fakkan, Kalba, Al Dhaid and Mleiha. The strategic undertaking follows Shurooq’s vision of transforming Sharjah as a leading hub of ...

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• 5 August

  Dubai Customs launches initiative to facilitate trade

  

  Dubai / WAM Dubai Customs has launched “Siyaj” (Fence) initiative: the first integrated control 24/7 system in the world. The new system is based on a number of sophisticated AI technologies, rapid intervention teams that work around the clock, drones, and the K9 sniffing dog unit. The initiative will enhance Dubai and UAE’s security and help protect the society from ...

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• 5 August

  Indian Energy Exchange plans gas unit stake sale

  

  Bloomberg Indian Energy Exchange (IEX) is in talks with strategic investors to sell a minority stake in its fledgling gas unit. The largest electricity trading platform in India may sell as much as 49% in the venture in a series of deals, Rajiv Srivastava, chief executive officer of IEX said in an interview. The first accord may be signed in ...

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• 5 August

  The end of national nightmare 2.0 in US

  

  Moments after becoming president on August 9, 1974, Gerald Ford said, “Our long national nightmare is over.” Having served a quarter-century in Congress, he understood that presidents are to “take care” that laws produced by the first branch of government are “faithfully executed.” The nation in 1974 was eager for a collegial respite from the gladiatorial strife that had consumed ...

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• 5 August

  Apple, Amazon, Google all bulletproof

  

  Europe has the motivation, but not the means, to break up Big Tech. For the US, the inverse is true. That’s bad news for anyone hoping for a full regulatory reckoning with Silicon Valley’s and Seattle’s giants over their monopolistic tendencies. Washington lawmakers see their job as protecting the consumer first and foremost, while Brussels wants to make sure other ...

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• 5 August

  Covid-19: The toughest moral test lies ahead

  The coronavirus pandemic has stress-tested the world. Beyond challenging human fortitude, national health services and international rivalries, it has forced a series of moral choices. Many have provoked impassioned disagreement — over whether governments can force businesses and schools to close, over sacrifices for the sake of the elderly and, most bitterly and surprisingly, over whether being asked to wear ...

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• 5 August

  Don’t let postal service derail 2020 US election

  When Louis DeJoy became postmaster general in May, he was the first person in more than 20 years to run the US Postal Service who had never worked there. His predecessor, Megan Brennan, had spent her entire career with the service, originally as a mail carrier. On the other hand, DeJoy, an accountant, founded and sold a company, New Breed ...

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• 5 August

  Virgin Atlantic files Chapter 15 petition to aid UK rescue

  

  Bloomberg Richard Branson’s Virgin Atlantic Airways filed for Chapter 15 bankruptcy protection in the US after telling a London court it was set to run out of cash next month if a pending rescue deal isn’t approved. The airline filed its petition in the Southern District of New York. Chapter 15 allows foreign companies with US assets to protect themselves ...

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