#China

Global power grids pushed to breaking point

The extreme weather highlights the real world impact of climate change

Global food costs surge to decade high as drought parches crops

A United Nations gauge of world food costs climbed for a 12th straight month in May

China’s Sinovac shot cleared for wider global use by the WHO

The WHO recommended its use for people aged 18 and older in a two-dose schedule with a spacing of two to four weeks between shots

Oil steady near highest since 2018 with Saudis upbeat on demand

Oil is up 40 per cent this year as the recovery from the pandemic in the US, China and parts of Europe boosts the outlook for fuel consumption

Iran bans Bitcoin mining, echoing China, after blackouts

The ban is effective immediately and will last until September 22

Bitcoin hovers around $40,000 as cryptos bounce back from rout

Bitcoin is about $25,000 shy of its mid-April record of almost $65,000

China tourists Dubai Covid-19 vaccine

UAE: Chinese visitors can now receive Covid-19 vaccines in Dubai

Chinese nationals above the age of 16 will be able to receive the Sinopharm vaccine, administered by the Dubai Health Authority

Oil steady near $65 as investors weigh near-term demand outlook

Oil has managed to break out from a tight range near $60 a barrel and resume its upward momentum

Oil trades at six-week high with demand optimism spurring rally

Consumption may also get a boost when China breaks for an extended holiday on Saturday

In one year a billion tons of food got wasted — mostly at home

Food waste and loss are responsible for as much as 10 per cent of global emissions

UAE covid-19 vaccine manufacturing sinopharm

UAE to begin manufacturing ‘Hayat-Vax’ Covid-19 vaccine

The ‘Life Sciences and Vaccine Manufacturing in the UAE’ is a joint project by the Abu Dhabi-based Group 42 and China’s Sinopharm CNBG

China's Foreign Minister Wang Yi

China, UAE to expedite production of affordable Covid-19 vaccines

The Chinese Foreign Minister Wang Yi landed in Abu Dhabi from Iran on Saturday evening for a two-day official visit

Aramco aims to partner with China on blue hydrogen, CEO says

Aramco is looking to work with China on blue hydrogen and ammonia, synthetic fuels and carbon capture utilization and storage

Oil pushes above $66 as China’s recovery aids outlook for bulls

Crude has rallied strongly in the opening months of 2021

Saudi-backed UK health app Babylon ends deal with Tencent

A $550m cash infusion led by Saudi Arabia’s Public Investment Fund in 2019 valued the company at about $2bn

UAE aviation regulator clears Boeing 737 Max to fly again

Local airlines must first provide a plan for bringing the plane back safely

The benchmarks countries must hit to reach net-zero emissions

More than 100 countries have pledged to get to net-zero emissions in the next 30 years

Oil rally pauses after report points to rising US stockpiles

US gasoline stockpiles expanded by 828,000 barrels last week

Plugging into the future: Next stop is electric vehicles

One of the biggest revelations for the luxury auto industry this year is that going electric is no longer an option – and it must be done now

Pfizer vaccine

UK clears Pfizer-BioNTech Covid vaccine ahead of US, EU

The UK regulator, the Medicines and Healthcare Products Regulatory Agency, said the vaccine “met its strict standards of safety, quality and effectiveness”

Etihad Beijing Abu Dhabi

Etihad to begin direct weekly flights from Beijing to Abu Dhabi

Etihad will become the only airline in the MENA region to operate non-stop passenger flights departing from both Shanghai and Beijing

G-20

Leaders at the Saudi-hosted G20 summit to pledge to ensure fair distribution of vaccines

The battle to counter the pandemic dominated the first day of a virtual summit of G20 nations on Saturday

Bahrain’s Investcorp acquires cereal and coffee company Viz Branz

Viz Branz has approximately 1,300 employees with manufacturing facilities and operations in China and Myanmar

Saudi oil giant pitches gas to China in cleaner-fuels push

Aramco is the world’s largest oil exporter

Bahrain’s Investcorp invests in Wuhan’s medical testing group, Kindstar

Kindstar offers patients and physicians access to advanced specialty testing services

Dubai’s DMCC opens representative office in Shenzhen, China

The office will provide advisory and consulting services in a common language

ECB takes major step toward introducing a digital Euro

A central-bank digital currency would allow euro-area residents to place deposits with the ECB directly

Abu Dhabi’s Etihad launches global student offer

This offer excludes departures from India and China

HSBC shares fall to 25-year low on China fears, banks report

Europe’s largest bank has been named as a possible candidate for China’s “unreliable entity list”

TikTok

Oracle wins deal for TikTok’s US operations

A deal between ByteDance, TikTok’s parent company, and Oracle will look more like a corporate restructuring than an outright sale, sources said