Abu Dhabi, UAEFriday 27 November 2020

epa08842919 Strike helpers hand out flyers in a parking lot near the Amazon logistic center in Rheinberg, Germany, 26 November 2020. Trade union Verdi said that workers in Germany -- in Rheinberg, Werne, Leipzig, Graben, Koblenz and Bad Hersfeld -- go on strike during the top-selling shopping day Black Friday on 26 November as part of their long-running campaign for better pay and conditions. EPA/SASCHA STEINBACH

German Amazon workers strike to coincide with Black Friday
Members of staff working on a car assembly line at the Vauxhall car factory in Ellesmere Port, UK. The decline in car production means 24,490 fewer vehicles were made in October than in the same month last year. Colin McPherson/Corbis via Getty Images

British car production falls 18.2% year-on-year in Covid slump

Economy
James Wolfensohn was appointed president of the World Bank by then-US President Bill Clinton and led the Bank from June 1995 through to May 2005. Paulo Vecina / The National

Former World Bank chief James Wolfensohn dies

Economy
Bitcoin has surged 250% in value in the past nine months but fears over tighter crypto regulation led to a sell-off. Reuters

Bitcoin value plunges on regulation concern

Markets

Shanghai replaces London as the most connected city in the world, according to Iata

Aviation

Britain slashes foreign aid budget to 0.5% of national income

Economy

Why Britain needs £40bn in tax increases to repair post-Covid public finances

Economy
IN DEPTH
While Norway is the best country for female equality, Estonia offers longest maternity leave of 1,162. Getty Images

The top countries for women’s opportunities are revealed

Economy
United Airlines will be the first airline to pilot a scheme that offers a prototype “health passport” to standardise a safer system for flying as regulators and governments grapple daily with the challenges posed by rising infection rates. AFP

LHR to Newark: The route that pioneers the way back to executive travel

Aviation
Luxury properties in Knightsbridge, London. Wealthy buyers from the Middle East are the third largest spenders this year on prime residential property in the British capital. Getty Images

How London is luring Middle East demand for luxury homes during Covid

Property
Economic insecurity from Covid-19 will likely accelerate a change for millennials, who will be less quick to splash out on soy lattes and yoga pants as they become savers again. Getty Images

Why managing money is difficult for some millennials

Money
Rishi Sunak's Eat Out To Help Out dining discount scheme was expected to lead another month of impressive growth for the UK's economy. AFP

UK's V-shaped recovery in jeopardy

Economy
Britain's Chancellor of the Exchequer Rishi Sunak leaves Downing Street, in London, Britain, November 25, 2020. REUTERS/Simon Dawson

Britain slashes foreign aid budget to 0.5% of national income in spending review
William Coe, the owner of Coes, a chain of six fashion stores in East Anglia, UK, says the timing of Black Friday when the country is in lockdown is another hit to his brand. Courtesy William Coe

Black Friday will deliver 'body blow' to Britain's Covid-hammered high street
Currently, if non-Muslim expatriates have not registered a will locally, upon their death, their assets in the UAE will be divided as per Sharia. However, the new changes stipulate that in the absence of a locally registered will in the UAE, the deceased’s home country inheritance law would apply at the time of their death. Getty Images

How the new UAE law on wills and inheritance affects you – Pocketful of Dirhams
(FILES) In this file photo taken on October 15, 2019 illuminated Huawei and 5G signs are on display during the 10th Global mobile broadband forum hosted by Chinese tech giant Huawei in Zurich. A Swedish court has suspended a decision banning Huawei equipment from the country's 5G network while it considers the merits of the case against the Chinese telecoms giant. The ruling by the Stockholm administrative court forced the Swedish Post and Telecom Authority (PTS) to announce late on November 9, 2020 that it would postpone an auction of 5G network frequencies that was due to have taken place on November 10, 2020. / AFP / STEFAN WERMUTH

Listen: Huawei CTO says 'there's no back door' on questions of 5G security
Close up of a senior businesswoman using a tablet in the office.Getty Images

Are we saving enough to fund a 100-year life? – Pocketful of Dirhams
FILE PHOTO: A combination picture shows U.S. President Donald Trump and Democratic presidential nominee Joe Biden speaking during the first 2020 presidential campaign debate, held on the campus of the Cleveland Clinic at Case Western Reserve University in Cleveland, Ohio, U.S., September 29, 2020. REUTERS/Brian Snyder/File Photo

How the US election affects your investment portfolio – Pocketful of Dirhams
Young women sending money through digital wallet, using wireless technology. Selective focus on smartphone screen. Over shoulders view. Getty Images

The steps Gen Z must take to achieve financial freedom - Pocketful of Dirhams
Businesswoman with face mask working at her desk looking at computer monitor, in office. Female professional back to work after covid-19 pandemic lockdown. Getty Images

Why women’s careers have been hurt the most by Covid-19 – Pocketful of Dirhams

MONEY

The earlier young people invest, the more time they have to reap the benefits of compound interest. Getty Images

The best money advice I'd tell my 20-year-old self

How to apply for a 10-year golden visa in the UAE - Pocketful of Dirhams

What's in store for investors in 2021?

Eight in 10 UAE millennials struggle to manage money amid Covid-19

Money & Me: ‘My mother wanted me to be strong, independent and have my own money’

BANKING

Compared with conventional banks, Islamic banks are perceived to have lower fees and offer better finance and profit rates on savings. Getty Images

Islamic banking products see higher uptake among non-Muslims in the UAE

Lenders welcome Tess extension by UAE Central Bank

Abu Dhabi Global Market rolls out new digital lab

UAE Central Bank opens FinTech office to boost digital payments

King Salman renames Saudi Arabian Monetary Authority to Saudi Central Bank

AVIATION

Shanghai has replaced London as the most connected city in the world, according to the latest rankings by the International Air Transport Association. Courtesy of Ritz Carlton Shanghai

Shanghai replaces London as the most connected city in the world, according to Iata

Airlines set to lose $157bn over two years as Covid obliterates demand

Iata working on mobile app to show travellers are Covid-free

Covid-19 vaccination will be required to fly on Qantas

Ex-British Airways CEO poised to lead airline trade group

PROPERTY

Qiddiya City, an entertainment development located on the outskirts of Riyadh, will be home to the kingdom's first theme park. Qiddiya Investment Company on Thursday said it awarded 2 billion riyals worth of contracts since construction began at the site last year. Courtesy Saudi Tourism

Project awards at Saudi Arabia's Qiddiya entertainment complex hit 2bn riyals

Homefront: ‘How do I know if a property project is safe to invest in?’

Emaar teams up with Arada to develop Dh600m residential project in Sharjah

Dubai property prices drop in October amid lower transactions

Changes to UAE company law will drive foreign investment, business leaders say

ECONOMY

A crane loads containers onto a ship at Mombasa port in Kenya. China has built infrastructure projects across Central Asia, the Middle East, Africa and Europe as part of the Belt and Road Initative. Bloomberg

Pandemic slows growth of China's Belt & Road Initiative

Smart Dubai will soon let people pay using facial recognition

British car production falls 18.2% year-on-year in Covid slump

Former World Bank chief James Wolfensohn dies

Why Britain needs £40bn in tax increases to repair post-Covid public finances

TECHNOLOGY

A man tries a new facial recognition system that can be used with masks at a booth operated by Chinese technology company Baidu at the World Internet Conference in Wuzhen, Zheijang. Smart Dubai hopes to roll out facial recognition to authenticate transactions. EPA

Smart Dubai will soon let people pay using facial recognition

Mubadala looks to step up tech investments in Europe and India

Abu Dhabi Global Market rolls out new digital lab

FinTech agreements with Israel to expand market access and funding, ADGM exec says

ADGM to sign MoU with Israel Securities Authority to develop FinTech sector

TRAVEL AND TOURISM

Qiddiya City, an entertainment development located on the outskirts of Riyadh, will be home to the kingdom's first theme park. Qiddiya Investment Company on Thursday said it awarded 2 billion riyals worth of contracts since construction began at the site last year. Courtesy Saudi Tourism

Project awards at Saudi Arabia's Qiddiya entertainment complex hit 2bn riyals

Shanghai replaces London as the most connected city in the world, according to Iata

Moving abroad: Which countries people want to live in and why

Emaar teams up with Arada to develop Dh600m residential project in Sharjah

Iata working on mobile app to show travellers are Covid-free

COMMENT

Source Global’s hydropanels at the planned site of the IBV drinking water plant in Lehbab, Dubai. start producing water at 6 per cent humidity in the air stand Bloomberg

Why tapping into renewable drinking water is the next logical step for the UAE

How to build a successful FinTech ecosystem

How Gulf countries can evolve their economies over the coming decades

Why it's important to reflect and hold onto habits that allowed you to endure the pandemic

Airbnb's IPO underlines its status as the comeback kid of tech

MARKETS

Wirecard's former boss Markus Braun appearing in front of a parliamentary inquiry last week, where he refrained from answering questions but read a statement saying regulators or auditors were likely to have been “massively misled”. Reuters

Wirecard sought to disrupt KPMG's special audit

Bitcoin value plunges on regulation concern

What's in store for investors in 2021?

Agthia group to acquire Kuwait’s Al Faysal Bakery and Sweets

Oil rises for a fifth day as US crude inventories drop

ENERGY

Abu Dhabi National Oil Company on Thursday said it awarded a contract worth up to $519 million to further expand the scope of the world’s largest combined three-dimensional onshore and offshore seismic survey . Reuters

Adnoc awards $519 million contract for seismic surveys

Oil rises for a fifth day as US crude inventories drop

Why tapping into renewable drinking water is the next logical step for the UAE

Oil surges to an eight-month high on vaccine hopes

Dana Gas achieves new record output from Iraqi asset
Changes to the Commercial Companies' law are expected to boost FDI to the UAE and spur business activity. Reem Mohammed/The National

What changes to UAE company foreign ownership rules mean for you
Covid-19 has disrupted transportation and mobility. Antonie Robertson / The National

What mobility looks like post Covid-19
Campaign signs in support of Joe Biden, 2020 Democratic presidential nominee, and U.S. President Donald Trump in Pittsburgh, Pennsylvania, U.S., on Sunday, Nov. 1, 2020. After striding into the 2020 election year with a white-hot economy and beating Democratic efforts to remove him from office, Trump was ready to cruise to a second term. But then came the coronavirus pandemic and economic devastation. Photographer: Al Drago/Bloomberg

Markets 'pre-positioned' for Biden to beat Trump
Jennifer Zhu Scott

Should Google and Facebook users be paid for their data?
ABU DHABI, UNITED ARAB EMIRATES. 11 DECEMBER 2019. SALT Abu Dhabi in partnership with Mubadala at the Emirates Palace. Incubating Innovation: How to Accelerate Technological Progress. Ibrahim Ajami, Mubadala Investment Company, Head of Venture Capital and Moderated by Rachel Pether, Sovereign Wealth Fund Institute (SWFI), Senior Advisor.. (Photo: Antonie Robertson/The National) Journalist: Dan Anderson. Section: National.

Mubadala’s Ibrahim Ajami on a long-term approach to tech investments: Business Extra
Samples of the University of Oxford coronavirus vaccine trials are handled at a laboratory. Another issue is making enough shots of any successful jabvto vaccinate the world. AP

Why the UAE joined Russia's Covid-19 vaccine trial: Business Extra
UK government advice switched to stress the importance of face masks in June. AFP

Cigna takes the pulse on a global mental health crisis: Business Extra
Dubai, United Arab Emirates- Interview with Edge CEO Faisal Al Bannai at the Dubai Airshow 2019 day 2 at Maktoum Airport. Leslie Pableo for the National

Edge CEO Faisal Al Bannai on building a 21st century defence company: Business Extra

The theme of next year's World Economic Forum will be 'The Great Reset', looking at sustainable rebuilding of the global economy in the wake of the Covid-19 pandemic. AP 

World Economic Forum opens summit on post-Covid 19 future: Business Extra
DUBAI, UNITED ARAB EMIRATES. 17 OCTOBER 2018. BIG PICTURE OPTION. Reflections on mirror panels on the ceiling of the DU stand at GITEX. (Photo: Antonie Robertson/The National) Journalist: None. Section: BIG PICTURE.

How the events industry is staging a comeback: Business Extra
The Dibba Bay Oysters farm was established in Fujairah, UAE in 2016. Courtesy Dibba Bay Oysters

Business Extra: on farming UAE veggies and shellfish
Dubai, United Arab Emirates - Reporter: N/A. Standalone. General view of the Museum of the future and Emirates Towers. Wednesday, August 26th, 2020. Dubai. Chris Whiteoak / The National

Business Extra: How to future in a world of hyperchange