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Dubai / WAM Field inspectors from the Commercial Compliance and Consumer Protection (CCCP) sector in Dubai Economy continued their visits to a number of open markets and shopping centres across the emirate to make sure that commercial establishments commit to the precautionary measures against Covid-19. During the tours, Dubai Economy imposed fines on four commercial establishments for employees’ lack of ...

Dubai / WAM Emirates Airline has announced it will resume flights to Budapest (from October 21), Bologna (November 1), Dusseldorf (November 1), Hamburg (November 1) and Lyon (November 4), expanding its European network to 31 destinations, and offering customers around the world convenient connections via Dubai. The addition of these five destinations takes Emirates’ global network to 99 destinations, as ...

DUBAI / WAM The Federal Youth Authority (FYA) held the first introductory meeting involving 50 young people from the first batch of the “Young Economists Programme.” The programme was organised by the FYA under the patronage of HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, to prepare a new generation of national economic leaders and ...

ABU DHABI / WAM The Ministry of Health and Prevention (MoHAP) conducted 87,669 additional Covid-19 tests over the past 24 hours, using state-of-the-art medical testing equipment. In a statement, the ministry stressed its aim to continue expanding scope of testing nationwide to facilitate early detection of coronavirus cases and carry out the necessary treatment. As part of its intensified testing ...

Ras Al Khaimah / WAM The Department of Civil Aviation in Ras Al Khaimah stated that expatriate residents will be allowed to enter the emirate through Ras Al Khaimah International Airport from October 15 without obtaining prior permission, in line with the procedures and requirements adopted by the country that include undergoing medical testing and obtaining a negative result before ...

Bloomberg A UK clean energy company is seeking to create 1,000 jobs by the end of next year, expanding its technology to simplify the way consumers buy electricity. Octopus Energy said it wants to make the UK the “Silicon Valley of energy” and detailed a plan to expand its cloud-computing platform, known as Kraken, which aims to make it easier ...

Just as the Chinese duo of Jack Ma and Pony Ma have carved up major chunks of their country’s internet businesses, the battle for control of 1.3 billion Indians’ data could become a two-horse race. The contest would get under way if, as reported by Bloomberg News, Tata Sons Pvt brings in financial or strategic investors. The holding company of ...

Ever since LVMH Moet Hennessy Louis Vuitton SE said it was walking away from Tiffany & Co, the question has been why? The obvious answer is that LVMH chairman Bernard Arnault is trying to shave the $16 billion purchase price that now looks too high given the damage inflicted on the luxury industry by Covid-19. But saving a couple of ...

When economic historian Charles Kindleberger charted the rise of financial centres around the world in 1973, he doubted London could take the top spot in Europe’s growing union of states: “Sterling is too weak, and British savings too little.” Instead, after assessing various cities’ economies of scale and corporate pulling power, he plumped for Brussels. He was clearly betting on ...

Losses in the main US stock indexes will go down in history simply as small ones in an otherwise choppy week. But assessed in more detail, they provide a remarkable example of the intense tug-of-war that now grips markets and will most likely persist, if not intensify, in the weeks ahead. Two news developments dominated the run-up to the US ...