May, 2020

• 17 May

  DSOA appoints Ejadah for infra maintenance at hi-tech park

  

  DUBAI / Emirates Business Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis (DSO), on Saturday announced that Ejadah, a leading asset management company in Dubai, has been contracted to manage all infrastructure maintenance works across the integrated community. Ejadah’s services include the maintenance and repair of DSO’s sewerage network, irrigation network, storm network, and their respective ...

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• 17 May

  World to use 1.7 billion barrels less oil in Q2 amid pandemic

  

  Bloomberg A fifth of global demand for oil will disappear this quarter. All three of the major forecasting agencies now agree that the world faces its biggest-ever slump in oil consumption, after governments imposed movement restrictions on billions of people to combat the coronavirus. The scale of the demand hit means that despite producers implementing unprecedented output cuts, stockpiles will ...

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• 16 May

  Oil recovery to be slow in North Dakota

  

  Bloomberg Producers are already restarting oil wells in North Dakota as prices come off record lows, but talk of a recovery is premature, said the state’s energy regulator. The historic price rout has in recent weeks curbed output in the second-biggest producing state by a third to below 1 million barrels a day, according to the Department of Mineral Resources. ...

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• 16 May

  Does US have military primacy over China?

  

  Here’s a fact that ought to startle every American who assumes that because we spend nearly a trillion dollars a year on defense, we have primacy over our emerging rival, China. “Over the past decade, in US war games against China, the United States has a nearly perfect record: We have lost almost every single time.” That’s a quote from ...

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• 16 May

  When Buffett sours on Goldman!

  

  Just as some US states begin to reopen and try to mend the virus-stricken economy, Warren Buffett delivered a harsh reminder that things may be anything but normal for a long time. The crisis has spooked America’s forever optimist so much so that he’s fled the airline industry entirely, and now even certain automobile and banking stocks, according to a ...

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• 16 May

  Covid-19 makes basic income look better

  Universal basic income (UBI) was a popular topic in the US before Covid-19 — in a theoretical sense. Now a pandemic is providing a tragic preview of some of the conditions UBI was conceived to address. And, though there are some important qualifications, Covid-19 is making UBI look better. Up until a few months ago, the argument for UBI was ...

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• 16 May

  Iceland is the perfect coronavirus refuge

  The world’s tourism hot spots are gradually reopening after the great lockdown, but they don’t look very alluring. Going to the beach will require spacing out parasols, while a city break in Europe might mean keeping a mask on while shopping. Not to mention the quarantines being imposed to limit imported infections, hardly a great way to start a vacation. ...

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• 16 May

  JC Penney sees ‘no way’ to shake off its identity crisis

  

  Bloomberg For middle-class Americans in the 20th century, JC Penney was one of the first places to look when you needed work pants, toys or towels, chairs or china. Even if you didn’t live anywhere near one of its stores, the iconic mail-order catalog made its goods available to anyone. As Penney’s longtime slogan promised, “It’s All Inside.” But as ...

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• 16 May

  Air France-KLM to offer ticket refunds

  

  Bloomberg Air France-KLM will offer refunds to customers whose flights were canceled due to the coronavirus pandemic in a policy reversal that could put further pressure on the struggling carrier’s balance sheet. The airline will give travellers a choice between a reimbursement or a voucher for a future flight worth 15% more than the initial ticket value, according to a ...

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• 16 May

  Post-crisis homecoming set to boost African airlines’ recovery

  

  Bloomberg Ethiopian Airlines Group sees African air traffic returning to pre-coronavirus crisis levels quicker than the rest of the world, boosted by a temporary spike in demand from stranded citizens returning home. Governments of countries including Uganda, Kenya and Madagascar closed their borders before or almost immediately after confirming their first Covid-19 cases, leaving thousands of business, student and health ...

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