Abu Dhabi / WAM Mohamed Saif Al Suwaidi, Director General of the Abu Dhabi Fund for Development (ADFD), received a delegation from Guinea-Conakry, headed by Ousmane Domboya, adviser to the president. The discussion focused on expanding economic cooperation. The meeting was attended by Khalifa Abdullah Al Qubaisi, Deputy Director General of ADFD; and other officials from both sides. Extending ...
Read More »The Olympics have been a raging success for China
The most notable record at the Beijing 2022 Winter Olympics won’t be recorded by a skier or skater. Instead it’ll be set by NBCUniversal. When the flame goes dark, the US network will likely have recorded the most poorly viewed Winter Games in history. Covid, half-empty stadiums, human-rights concerns and boycotts have depressed viewers and ratings. They’ve also battered China’s ...
Read More »â€˜Metamates’are in for a rough voyage
Motivating people is hard, especially when you’re trying to convince them to join you on a perilous quest that may not succeed. So perhaps you can understand, once you stop laughing, why Mark Zuckerberg has encouraged his employees to call themselves “Metamates†instead of “colleagues†or “co-workers†or “Steve.†It’s nautical! We’re going on a swashbuckling adventure! Ahoy, Metamaties! But ...
Read More »Miners scour earth again as reserves dwindle
Think your life has been unadventurous over the past few years, as the pandemic and closed borders have kept you bottled up at home? Spare a thought for the mining sector. An industry built on the romance and horror of finding riches on the wild frontier — from the Klondike to Kimberley, Kolyma and Katanga — has for years ...
Read More »Why central banks are getting inflation wrong
High above the Bank of England, a weather vane tracking the wind direction connects directly to a dial in the stately building’s Court Room. In the 1800s, the bank’s directors met there, and knowing which way the wind was blowing was crucial. An easterly breeze meant that ships, loaded with commodities such as copper and wheat, would be sailing ...
Read More »Air France-KLM ramps up capacity as Omicron recedes
Bloomberg Air France-KLM plans to cautiously ramp up capacity in coming months as the latest coronavirus wave fades, while exploring new ways to raise funds to pay back a government pandemic bailout. The struggling carrier forecast network capacity of 73% to 78% of 2019 levels during the first three months of this year, according to a statement. That would ...
Read More »Australia’s Rex plans fleet surge as bookings pick up
Bloomberg Australian airline Rex laid out ambitious plans to increase the number of jets taking on Qantas Airways Ltd on the country’s busiest routes, saying the worst of the fallout from the pandemic appears to be over. Regional Express Holdings Ltd, as the airline is officially called, last year started a domestic business flying popular legs including Melbourne-Sydney and ...
Read More »China must open for Asia travel rebound, jet lessor AerCap says
Bloomberg AerCap Holdings NV, the world’s largest aircraft leasing firm, is “very optimistic†people will travel in large numbers once borders open up and believes that will apply equally to Southeast Asia, which is currently lagging the rest of the world, according to Chief Executive Officer Gus Kelly. Travel in the US is already back to around 80% of ...
Read More »Ahold Delhaize drops after warning of lower profit
Bloomberg Royal Ahold Delhaize NV’s stock dropped after the Stop & Shop owner said it expects lower earnings per share this fiscal year as inflation weighs on consumers and the industry grapples with continued supply chain disruption. The retailer said it expects underlying earnings per share to decline by low- to mid-single-digits this year. The shares dropped as much ...
Read More »Cathay flies only 797 travellers a day as Covid squeeze persists
Bloomberg Cathay Pacific Airways Ltd expects to continue operating at about 2% of pre-pandemic passenger capacity as long as Hong Kong, battling a rapidly worsening Covid-19 outbreak, keeps virus restrictions in place. Hong Kong’s main airline, which relies solely on international travel, carried 24,699 passengers in January, down 99.2% from the same month in 2019, prior to the pandemic. ...
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