July, 2020

• 12 July

  UAE, China look to revive bilateral economic activity

  

  Dubai / WAM The UAE Ministry of Economy and the China Council for the Promotion of International Trade (CCPIT) have announced that they will together host the first China-UAE Economic and Trade Digital Expo on July 15, a platform designed to reinvigorate trade activities between the two countries as they seek to lay the foundations for bilateral trade in the ...

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• 12 July

  Saeb Eigner named chairman of DFSA board of directors

  Dubai / WAM HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and President of the Dubai International Financial Centre (DIFC) issued a Decision reappointing Saeb Eigner as Chairman of the Dubai Financial Services Authority’s (DFSA) Board of Directors. His Highness also appointed Fadel Al Ali as Deputy Chairman of the Board and Abdul Wahid Al ...

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• 12 July

  Etihad Aviation Group launches Al Watani programme

  

  ABU DHABI / wam Etihad Aviation Group announced the launch of Al Watani programme, a new local content programme for suppliers who would like to partner with the national airline of the UAE to provide their products and services. Vendors across the supply chain are encouraged to join the Al Watani programme provided they fulfil its application criteria. To be ...

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• 12 July

  Abu Dhabi Fund suspends debt repayments

  

  Abu Dhabi / Emirates Business Abu Dhabi Fund for Development (ADFD), the leading national entity that supports sustainable economic development at home and abroad, has announced a significant initiative whereby it has decided to suspend debt service repayments during 2020 for eligible countries, as well as individual businesses, in the developing world upon request for forbearance. The sole objective behind ...

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• 12 July

  RTA: Pedestrian deaths on Dubai roads drop by 76%

  

  Dubai / WAM Mattar Mohammed Al Tayer, Director-General and Chairman of the Board of Executive Directors of Roads and Transport Authority (RTA) has highlighted the importance of RTA’s efforts to improve traffic safety, as well as pedestrian safety. He took note of the impact of building footbridges, which reduced pedestrian fatalities by 76.5% between 2007 and 2019. Al Tayer also ...

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• 12 July

  Exxon Mobil restarts drilling at offshore hotspot in voting crisis

  

  Bloomberg Exxon Mobil Corp resumed drilling in Guyana last month, underscoring its dedication to the offshore hotspot despite the oil price crash and a messy turn in local politics. Two of Exxon’s four drillships went back to work, according to data published by Baker Hughes Co. The company later confirmed that the Stena Carron and Noble Tom Madden vessels returned ...

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• 12 July

  Renewable plants to wean Australia state off fossil fuels

  

  Bloomberg Australia’s most populous state plans to fast-track its transition away from fossil fuels by encouraging investment in renewable-energy clusters. New South Wales put out a call for $12.7 billion ($8.8 billion) in investment to build solar and wind generation. It’s the second of three planned renewable energy zones to get the green light as the state seeks to move ...

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• 12 July

  Copper producers add to mine disruption fear

  

  Bloomberg The world’s two largest copper producers are giving metal markets even more reason to fear supply disruptions that have helped send prices to the highest in a year. Peru, the second-largest copper miner, is taking longer than expected to ramp up mines after a two-month lockdown as workers fall ill, a top official said. At the same time, workers ...

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• 12 July

  To beat Covid-19 crisis, nations need to open up

  

  The world will not be rid of Covid-19 until we have a safe and effective vaccine available to everyone. We will not recover from the far-reaching economic impact of the pandemic without a new social compact between governments and citizens based on transparent, accountable and trustworthy governance. Every day that the crisis continues, the value of more open government becomes ...

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• 12 July

  Rolls-Royce faces unique kind of hell

  

  Few aerospace companies have been left unscarred by Covid-19, but those that were struggling even before the pandemic are experiencing a unique kind of hell. Boeing Co was already up against it after grounding its 737 Max jets and it’s expected to burn through as much as $16 billion of cash this year. Among suppliers, few were as vulnerable going ...

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