July, 2020

• 4 July

  Ras Al Khaimah restores historic watchtower

  

  RAS AL KHAIMAH / WAM Ras Al Khaimah Department of Antiquities and Museums completed major restoration work on one of the emirate’s historic watchtowers. Located just outside Al Jazirah Al Hamra, an ancient coastal village renowned for its fishing, pearl diving and boat building, the watchtower is believed to be about 100 years old and was a crucial part of ...

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• 4 July

  Dubai launches agency to regulate dhow sector

  

  DUBAI / WAM The Ports, Customs and Free Zone Corporation (PCFC) in cooperation with the Dubai Maritime City Authority (DMCA) has launched a Marine Agency to oversee wooden dhow ships and regulate all their activities while they are in Dubai waters. The agency is an organisational unit managed by the PCFC and works according to regulations in coordination with the ...

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• 4 July

  ‘Next Gen Abu Dhabi’ begins first nanodegrees in future skills

  

  ABU DHABI / Emirates Business The Abu Dhabi School of Government (ADSG), a Department of Government Support entity, and the Abu Dhabi Youth Council has on Saturday launched the first “Next Generation Abu Dhabi” program, in partnership with Udacity, a global leader in the field of online learning. The new programs will be part of the “Youth Skills Platform”, which ...

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• 4 July

  Johnson has a personal stake in fighting obesity

  

  In late March, Boris Johnson and Matt Hancock, Britain’s portly prime minister and its slender health secretary, both contracted Covid-19. Hancock had a mild case and was back to work a week later. Johnson was lucky to come out alive after a spell in intensive care. Ever since then he has been on a mission. Johnson believes that being overweight ...

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• 4 July

  Tesla fans should cool down a little

  

  Back when Tesla Inc delivered 95,000 cars to customers during the spring quarter of 2019, the stock price was languishing at about $235 and Elon Musk’s electric car company was valued at “only” $40 billion. Fast forward a year and the shares are now priced at more than $1,200. With a market capitalisation of $224 billion, Tesla has surpassed Toyota ...

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• 4 July

  HK brokers are reading from Beijing’s script

  The national security law China imposed on Hong Kong will damage civil liberties with long jail sentences and grant immunity to Chinese agents working in the territory. For investors who depend on the city as a financial center, though, there may be an extra sting in the tail. The law could increase self-censorship by Hong Kong’s analysts and economists, and ...

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• 4 July

  Deutsche Bank lines up to buy a piece of history

  Deutsche Bank AG is lining up to buy a piece of history — a remnant of scandal-ridden Wirecard AG. It’s not the only one sniffing around. But however many expressions of interest there may be, and however credible the buyers, the proceeds from selling off even the best assets of the German payments company will be tiny relative to the ...

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• 4 July

  Air France to cut 7,500 jobs as recovery seems years away

  

  Bloomberg Air France-KLM plans to cut more than 7,500 jobs at its French arm, amid warnings that its future is on the line. Europe’s second-biggest airline will eliminate 6,560 positions at its Air France flagship, while its regional carrier Hop! will lose 1,020 posts, the company said in a statement. The cuts will take place over the next three years. ...

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• 4 July

  Kenya Air begins job cuts amid virus losses

  

  Bloomberg Kenya Airways Plc started a three-month round of job cuts as lawmakers debate a bill to nationalise the carrier and its losses mount due to the impact of the coronavirus pandemic. The process is expected to be completed by September 30, Chief Executive Officer Allan Kilavuka said in a memo to employees, without providing the number of workers to ...

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• 4 July

  British Airways settles quarantine suit with UK government

  

  Bloomberg British Airways parent IAG SA settled a dispute with the UK over a policy to force visitors to self-isolate for 14 days, agreeing to withdraw the London litigation when the government updated its plan. The agreement came together just four hours after proceedings began in London’s High Court. British Airways attorney Tom Hickman said the carrier agreed to drop ...

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