UAE, Indonesia sign agreement

UAE, Indonesia sign comprehensive economic partnership agreement

The pact will help increase annual bilateral trade to $10bn within five years by removing trade barriers on a range of goods and services

Costliest places

These are the 50 costliest places for expats to live and work

High rankings for many Asian cities were driven by inflation and strong currencies

UAE President receives Indian Prime Minister

Narendra Modi offered his condolences to the UAE President and the people on the passing of Sheikh Khalifa bin Zayed Al Nahyan

Mukesh Ambani resigns, son Akash Ambani succeeds as chairman

Mukesh Ambani resigns, son Akash Ambani succeeds as chairman

Mukesh will continue to be the chairman of Jio Platforms Ltd, the flagship company that owns all Jio digital services brands

Copper

Metals haven’t crashed this hard since the Great Recession

For a metal like copper, its uses in everything from heavy industrial machinery to advanced electronics mean the market is tightly linked to economic shifts

UK

UAE citizens will not require visas to visit UK from 2023

The directive has been extended to other GCC countries as well

hydrogen

UAE government team to visit Germany for talks on hydrogen

German and Emirati companies signed memorandums of understanding in March for shipments from the Gulf state of blue hydrogen in the form of ammonia

Can facial recognition technology detect you with a mask?

Algorithms can recognise facial features during authentication, based on their programmed understanding of how a mask fits on the face

Emirates Mexico

Dubai’s Emirates ramps up frequencies to Mexico with daily service

The Dubai-Barcelona-Mexico route is operated with a two-class Emirates Boeing 777-200LR

World Cup

New York, Miami among cities hosting 2026 FIFA World Cup matches

The US last hosted the World Cup in 1994, an event that gave rise to Major League Soccer

US President

US President to visit Saudi Arabia in July

Joe Biden will visit the country on July 15-16

Combustion cars

Europe moves closer to cutting off its lifeblood combustion engine

Members of Parliament voted in favour of mandating that carmakers eliminate emissions from the cars they sell from 2035 onward

UAE and Japan strengthen bilateral ties in various sectors

The meetings focused on UAE’s preparations to host COP28 in 2023 and strengthen economic, energy and industrial cooperation between the two countries

Queen Elizabeth II celebrates 70 years as British Monarch

Her Majesty has becomes the first monarch in British history to celebrate a Platinum Jubilee

Turkey officially changes its name at UN to ‘Turkiye’

Turkey officially changes its name at UN to ‘Turkiye’

President Erdogan has been pressing for the name to be changed to ‘Türkiye’ (tur-key-yay) as it is spelled and pronounced in Turkish

Walmart ranks first on the top 25 global retailers survey

According to GlobalData’s ranking, half of the top 25 global retailers reported more than 8 per cent year-on-year growth in revenue despite the pandemic

Kindle

Amazon to shut Kindle store in China

The e-commerce giant will discontinue the Kindle eBook store on June 30, 2023

Plane crashes in Nepal with 22 aboard, all bodies recovered

Of those on board, 13 were citizens of Nepal, while four others were Indians and two were Germans

ADNOC

Abu Dhabi’s ADNOC, Masdar deepen partnership with BP

ADNOC, BP and Masdar also agreed to explore the production of sustainable aviation fuels in the UAE

Oil

Oil eases as investors focus on EU’s embargo impasse, gasoline

Oil markets remain in backwardation, a bullish pattern in which near-term prices trade above longer-dated ones

What are the biggest issues being discussed at Davos 2022?

Some issues to be discussed at Davos 2022 include the Ukraine crisis, the lingering threat of the pandemic, inflation and the shifting geopolitical influence.

Why tomorrow’s central bankers need to think like MBA students

The next generation of central bankers is taking a page from the business school play book

Etihad Rail MoUs

UAE’s Etihad Rail signs MoUs with international railway operators to exchange knowledge, expertise

The MoUs were signed to exchange knowledge, expertise, and best practices in freight and passenger rail services and operations

Oil eases at week’s open after top central banks warn on rates

Oil extends gains as investors weigh Russian ban, China outlook

Oil is up more than 40 per cent this year as economies rebound from the pandemic

Oil

Oil holds jump as US fuel stockpiles slide before driving season

Oil is up around 40 per cent this year following a strong economic rebound from the pandemic

Saudi Aramco

Saudi Aramco becomes world’s most valuable stock as Apple drops

Earlier this year, Apple boasted a market value of $3tn, about $1tn more than Aramco’s

Abu Dhabi

Abu Dhabi’s ADQ announces EUR4bn investment partnership with Greece

The agreement underscores growing economic ties between the two countries and will drive investor interest in Greece

Biomass. emissions

First African emissions reduction credit platform unveiled

The platform, to be known as CYNK, will use the Hedera Hashgraph public decentralised ledger to track emission reductions

Egypt carbon dioxide

Egypt to store carbon dioxide in cooperation with Italian Eni

The project will capture and store between 25,000 and 30,000 tonnes of carbon dioxide per year

Getty Images - Sophos acquisition

Sophos acquires UK-based Soc.Os to advance MTR, XDR capabilities

The deal expands Sophos’ adaptive cybersecurity ecosystem to include telemetry from third-party security and IT solutions