Archive / Business - 2021
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Binance secures in-principle approval to operate from Central Bank of BahrainThe Central Bank of Bahrain has granted Binance, the world's largest cryptocurrency exchange by trading volumes, an in-principle agreement to become a crypto-asset service provider...Oil edges towards $80 per barrel on easing Omicron concernsOil prices on Wednesday edged towards $80 per barrel as concerns about the Omicron coronavirus variant hitting demand eased.Brent, the international benchmark, was up 0.3...ADGM grants regulatory approval to virtual asset trading platform HayvnThe Abu Dhabi Global Market granted regulatory permission to virtual asset trading platform Hayvn as the financial free zone plans to expand online asset trading...Essential supplies for CirculoseRenewcell has signed multi-year purchasing agreements with three different European textile sorters — Soex in Germany, Texaid in Switzerland and Sysav in Sweden.These companies will...GST rate change reviving fortune of small textile units in IndiaThe proposed change in Goods and Services Tax (GST) with effect from January 1 is helping micro, small and medium enterprises (MSMEs) manufacturing polyester and...Indonesia lifts ban on Boeing 737 MaxIndonesia has lifted a ban on the Boeing 737 Max, its transport ministry said on Tuesday, three years after the crash of one of the...Oman and Shell sign gas concession deal for Block 10 in Saih Rawl fieldOman's ministry of energy signed a concession agreement with Shell Integrated Gas Oman BV, a subsidiary of Royal Dutch Shell, along with its partners, OQ...Innovators in LED Lighting Online RetailIn recent years, LED technology has revolutionized the lighting industry as a whole. A wide range of different lighting retailers specializing in LED lighting have...Etihad Airways to create 'Air Silk Road' between Abu Dhabi and China's Henan provinceEtihad Airways and Henan Province Airport Group, parent company of the Zhengzhou Xinzheng Airport — a major domestic aviation hub and the gateway to central...Oil gains as improving market outlook outweighs Omicron surgeOil climbed as investors weighed a surge in Omicron cases against signs that the new strain is not as severe as previous waves.Brent was 0.39...Chinese startup develops PCR testing equipment for household useUstar, a Chinese point of care (POC) startup that designs molecular diagnostic systems, has raised about 300 million yuan ($2.6 million) in a Series E+...Emirates teams up with Al Hosn for easier travel to EU countriesCovid test results and the vaccine status of passengers on Emirates will be recognised by the EU through the use of the Iata Travel Pass,...Mexico’s Pemex secures $500m in new funding to help it take over Texas refineryBarclays, SMBC and Banorte are providing a $500 million bridge loan to Petroleos Mexicanos to help finance its takeover of Royal Dutch Shell’s Deer Park...Abu Dhabi International Airport traffic expected to surge 400% over festive seasonAir traffic at Abu Dhabi International Airport is expected to surge almost 400 per cent during the festive season, buoyed by passenger demand and significant...Holiday season lights a bright spot amid pandemic resurgenceThe holiday season is shining brightly during the pandemic as businesses pour money into extravagant light shows to spread cheer.From Maine to California, more lights...Dubai visitor numbers to exceed pre-pandemic levels in final weeks of 2021, DXB chief saysThe number of visitors to Dubai is expected to exceed pre-pandemic levels in the remaining few weeks of 2021 during the peak holiday travel period,...Supply shortages and emboldened workers: A changed economyEmployees at a fast-food restaurant in Sacramento, California, exasperated over working in stifling heat for low wages, demanded more pay and a new air conditioner...‘Comfort’ translates to more in casual dining“Customers are still spending time at home, more than ever,” said Cindy Hall, Sherrill Furniture vice president of case goods merchandising. “We’ve all become more...Craft distillers continue push for regulatory changes as they slog through pandemicStill facing market pains ushered in by the COVID-19 pandemic, Michigan small craft distillers continue to lobby for looser state liquor control laws to help...Dubai’s property deals up 88 per cent in first 11 months of 2021Property sales transactions in Dubai surged 88.37 per cent annually in the first 11 months of 2021 as the UAE’s economy charted a strong recovery...How the buy-now-pay-later model is changing consumer shopping habits in IndiaPiyush Rautela, a Delhi-based public relations executive, is increasingly taking advantage of the plethora of “buy-now-pay-later” interest-free options that are available for a number of...Next generation ultra-rich to increase wealth through cryptocurrency investmentsThe new generation of digitally-savvy investors, who will be responsible for the wealth transfer in the next decade, are likely to increase their wealth by...3M thermally conductive products now available at Heilind ElectronicsHeilind Electronics, a global distributor of electronic components and authorized distributor for 3M, is now stocking 3M Thermally Conductive Products, including adhesive transfer tapes, conductive...Oil prices slide as Omicron variant clouds energy demand outlookOil fell for the first time in three days over concerns about the demand effect from the Omicron variant and tighter monetary policy.Futures in New...Quicktake: Why did AWS crash again and will there be more cuts?Amazon Web Services, the backbone of many websites and apps, suffered a major disruption in the US and in some other parts of the world...Indian authorities probe Boeing Max incident after mid-air emergencyIndian regulators are investigating a Boeing 737 Max incident on Thursday, operated by SpiceJet, which caused the plane to turn back to Mumbai shortly after...From Dubai to Silicon Valley: meet the brothers refining venture capitalIn an era that sees venture capitalists flock to Twitter to dispense their wisdom to the masses via threads, newsletters, podcasts and every other conceivable...Kuwait's NAS to give passengers access to hundreds more Covid-19 testing labsKuwait's National Aviation Services has partnered with HealthKey Technologies to provide passengers with digital access to an additional 1,800 Covid-19 testing locations around the world....What are your top investment regrets of 2021?As the year draws to a close, it’s a case of “here we go again” as the latest Covid-19 variant threatens yet another wave of...Elon Musk's wealth drops $15bn as tech stocks plungeThe richest US tech moguls lost tens of billions in collective wealth as technology stocks tumbled amid fears of inflation and economic tightening.Elon Musk’s net...Uber Eats to quit Hong Kong after five yearsOnline food delivery platform Uber Eats announced on Tuesday it will quit Hong Kong at the end of 2021, ending five years of a battle...Dubai house prices jump 21% as property market continues to recoverResidential property prices in Dubai jumped 21 per cent in the first 10 months of the year as the emirate’s property sector continues to recover...Omicron threatens the fragile recovery of Africa’s aviation sectorAs African airlines pick up the pieces after almost two years of travel restrictions, another coronavirus variant threatens the fragile recovery of the continent’s aviation...UAE's GreenDome Investments acquires freight solutions provider Elite CoUAE-based GreenDome Investments has acquired land freight and courier solutions provider Elite Co from Prama Holdings for an undisclosed sum as it seeks to tap...Dubai hotels record 16.8% jump in occupancy as tourism sector continues to recoverHotels in Dubai recorded a 16.8 per cent surge in occupancy in the first 10 months of the year as the Emirate's tourism sector continues...North Carolina’s Furniture Hub Is Booming. What Comes Next?Six months into the coronavirus pandemic, as millions of workers lost their jobs and companies fretted about their economic future, something unexpected happened at Hancock...Chinese city eases rules for developers amid cash crunchThe Chinese city of Chengdu has announced measures to make it easier for developers to sell properties, making it the first to loosen restrictions on...'Can I resign from my job during probation under the new UAE Labour Law?'How can I resign from a company during my probation period under the UAE's new Labour Law? I want to ensure that I do not...UAE reviews progress in efforts to combat money launderingThe UAE's Higher Committee Overseeing National Strategy on Anti-Money Laundering and Countering Financing of Terrorism held a meeting at Expo 2020 Dubai that briefed members...Omicron variant concerns rattle oil prices and global marketsOil prices and global stock markets fell on Friday on concern the new Omicron Covid-19 variant discovered in South Africa could dampen economic growth and...Shipping industry fails to back world-first CO2 chargeThe International Chamber of Shipping (ICS) said the industry regulator’s failure to make progress on decarbonisation commitments at a key meeting on Friday was a...JPMorgan boss regrets saying bank will outlast Chinese Communist PartyJP Morgan boss Jamie Dimon has apologised after saying his Wall Street bank would outlast China's Communist Party.The comments, made at a US event, sparked...Knoll Packaging wins Limited Edition of the Year at the UK Packaging AwardsKnoll Packaging has won Limited Edition of the Year at the 2021 UK Packaging Awards for the 2020 Penhaligon’s Advent Calendar. The packaging industry gathered...Homefront: ‘Can my landlord evict us and re-let the property at a higher rent?Our landlord served us with a 12-month public notarised document to vacate the property we rent at the end of our lease on September 2,...Co-ordinated global effort to ease energy prices leaves markets uncertainThe decision by the US, the largest producer of crude, and some of the world's biggest oil-importing countries to release millions of barrels of strategic...U.S. retailers cheery about holiday season despite inflationAfter nearly two years of pandemic gloom, American consumers appear primed to spend generously for the holidays in spite of worries over inflation and item...Asia stock markets decline amid inflation, oil price worriesAsian shares mostly fell Wednesday as worries about inflation set off expectations the U.S. Federal Reserve might move faster than anticipated to raise interest rates.Japan's...US to release oil reserves in attempt to lower pricesThe US has said it is releasing 50 million barrels of oil from its reserves in an attempt to bring down soaring energy and petrol...VistaJet records best third quarter as private travel boomsIan Moore, VistaJet's chief commercial officer and a 20-year veteran of the private jet business, says he cannot take aircraft deliveries fast enough to meet...