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Bloomberg Delays from congestion at southern Chinese ports triggered by fresh Covid-19 outbreaks are rippling through global supply chains, threatening to inflate costs and exacerbate disruptions. A cargo vessel operated by Cosco Shipping Lines Co will skip a scheduled port stop in Singapore this month because of delays in China, according to alliance partner Ocean Network Express Holdings Ltd. One ...

Bloomberg Just eight months after celebrating a narrow escape from financial disaster, Chinese billionaire Hui Ka Yan finds himself back in crisis-fighting mode. Resurgent concerns about the health of China Evergrande Group, Hui’s flagship property company, have pushed its stock to within a hair’s breadth of the lowest level since March 2020. Bondholders are rushing for the exit too, spooked ...

Bloomberg It was supposed to be another sign of Joe Biden bringing together US allies left adrift under four years of Donald Trump: The leaders of Japan and South Korea sitting down for a meeting at the Group of Seven summit. Yet Japanese Prime Minister Yoshihide Suga and South Korean President Moon Jae-in failed to hold the first substantive direct ...

Dubai / WAM Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (Dewa), has announced that the authority will add 600 megawatts (MW) of clean energy capacity using photovoltaic solar panels and Concentrated Solar Power (CSP) during 2021. The move will increase Dewa’s total power capacity from clean energy to 1,613 MW compared to 1,013 MW ...

Abu Dhabi / WAM A delegation of the Khalifa bin Zayed Al Nahyan Foundation, in collaboration with the UAE Embassy in Beirut, has provided vouchers to 35,600 families in Northern Lebanon, as part of the UAE’s endless efforts to support friendly countries. An official from the foundation stated that the humanitarian initiative was launched upon the directives of the UAE’s ...

Abu Dhabi / WAM Dr Abdullah Belhaif Al Nuaimi, Minister of Climate Change and Environment, stated that the Ministry of Climate Change plans to launch a new food safety standards system in the next two months. The new system will ensure that only top-rated food products that comply with the highest international standards can enter the country, he added, stressing ...

Dubai / WAM Dubai Economy and the Dubai Business Women Council (DBWC) hosted a webinar to highlight the packages of incentives, services, and benefits that can support all UAE-based businesswomen and entrepreneurs. The webinar was part of the monthly ‘Market Dialogue’ series conducted by Dubai Economy to provide an open platform to discuss subjects of interest to the business community. ...

ABU DHABI / WAM Writers and publishers are being invited to submit their entries for next year’s Sheikh Zayed Book Award (SZBA). The submission period for the 16th edition of the SZBA, will run from June until October 1. The announcement follows the success of the 15th edition’s virtual awards ceremony, which received widespread praise and publicity after it was ...

Bloomberg Boris Johnson’s UK government doesn’t want any of the leaders at the Group of Seven summit to leave Cornwall without knowing just how angry he is with some of them about Brexit. For the second day in a row, Johnson’s Foreign Secretary Dominic Raab has taken to broadcast interviews to condemn European “ignorance” about the UK, as a dispute ...

Bloomberg The coronavirus pandemic real-estate boom has made some Canadians richer, while others languish. The net worth of the nation’s households increased by about C$770 billion ($633 billion) in the first three months of 2021, a record 6% gain, to C$13.7 trillion, Statistics Canada said in a report. Since the start of 2020, that figure has increased by more than ...