Archive / Business - 2022
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World Bank warns global economy faces grim outlookThe global economy faces a "grim outlook", World Bank president David Malpass has warned, as the aftershocks of the pandemic continue to weigh on growth...Moody’s affirms Baa1 rating to Noor Abu Dhabi solar PV project bondsMoody’s Investors Service affirmed a Baa1 rating to the nearly $728 million fixed rate, senior secured, amortising bonds issued by the operator of the 881-megawatt...AirAsia CEO says international travel will bounce back strongly despite omicron impactInternational travel is likely to recover soon despite progress being slowed by the omicron variant, according to AirAsia chief executive Tony Fernandes.“I do believe that...The textile fabric of contemporary textile artists are weaving today's cultural movements into their workTextiles carry with them lots of stories,” Aditi Patwari, a textile artist and designer who has been living in Dubai since 2016, says. “They tell...Can India attract global chipmakers with its $10bn incentive plan?India has set its sights on the booming semiconductor manufacturing sector amid surging global demand for consumer electronics and a chip supply crunch. While the...Flight disruptions will not derail airlines' recovery in 2022, says Moody'sThe wave of flight cancellations due to a surge in Covid-19 cases globally and bad weather in some locations will not hurt the airline industry's...Dyeing sector can’t keep up with robust apparelNo new dyeing factory was set up in Bangladesh last year although the segment is crucial to supporting the roaring apparel sector looking to double...Dana Gas payments from Egypt and Kurdistan jump 107% in 2021 on higher oil pricesDana Gas, one of the largest private natural gas companies in the region, said payments from operations in Egypt and the Kurdistan Region of Iraq...Dubai records more than $690m in property transactions on first working FridayThe value of real estate transactions in Dubai on the first working Friday following the adoption of the new weekly work system in the UAE...Sony to launch firm to explore making electric carsElectronics giant Sony has unveiled a new prototype of its Vision-S electric vehicle and announced the founding of a company to explore jumping into the...Oil prices jump as Opec+ agrees to continue output increase in FebruaryOpec and its allies will stay the course and bring 400,000 barrels per day of crude to the market in February despite demand concerns due...Toyota overtakes GM to become top-selling car maker in US for the first time in a centuryFor the first time since 1931, General Motors is not America’s top-selling car maker. The Detroit-based company lost its crown to Japanese rival Toyota Motor,...Dubai Duty Free records 40% jump in annual revenue as passenger traffic recoversDubai Duty Free recorded Dh3.56 billion ($970 million) in annual sales in 2021, a 40 per cent increase on the previous year, as passenger traffic...Zurich to sell Italian life and pensions back book to Portuguese insurer GamaLifeZurich Insurance will release about $1.2 billion of capital by selling its Italian life and pensions back book to Portuguese insurer GamaLife, the Swiss company...Gazprom misses its 2021 target for gas exports to EuropeRussian gas company Gazprom missed its own “conservative” target for 2021 exports to Europe, and those capped flows contributed to the continent’s worst energy supply...Best high-end queen bed sheet setWhile your pillow and mattress keep your head, shoulders, hips and spine well-aligned for restorative sleep, comfortable, soft queen sheets can help regulate your body...The euro at 20: how resilient currency united EuropeansLook under old mattresses, put your hands down the sides of second-hand sofas or lift up floorboards in homes across the eurozone and you may...‘Can my employer insist I sign a non-compete clause before paying my dues?’I have been working for a company for seven years. I resigned on December 9 because my manager is hostile and makes me very uncomfortable.I...Denmark seeks to operate 'green' domestic flights by 2030Denmark has set a target to operate "green" flights on domestic routes by 2030 as part of efforts to meet its climate goals and as...Ewec expands remit of co-ordinating water and electricity production operationsEmirates Waste and Electricity Company said it significantly expanded its remit for co-ordinating water and electricity production operations in Abu Dhabi and is positioned to...China to scrap subsidies for electric vehiclesChina will end subsidies for electric and hybrid cars at the end of the year, authorities have announced, saying the strength of sales in the...Cathay Pacific suspends cargo flights until January 6 amid tougher virus controlsHong Kong’s Cathay Pacific Airlines is suspending cargo flights for a week due to stricter Covid-19 quarantine requirements for aircrews, potentially adding to strain on...Fashion and apparel are Europe's most popular categories for online shoppingIn most European countries, fashion and apparel was the main product segment for online shopping in 2020, according to the annual Europe Clothing B2C E-Commerce...Chinese factory activity edges higher in DecemberChinese factory activity edged higher in December as supply disruptions eased and export demand weakened, a survey showed Friday.The monthly purchasing managers’ index issued by...