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Abu Dhabi, UAEThursday 21 January 2021

The presidential inauguration plays on a screen as trader Timothy Nick works in a booth on the trading floor, January 20, 2021. AP

Wall Street closes at record high after Biden takes office
Governor Andrew Bailey attends a news conference at Bank Of England in London. AFP

Bank of England's Andrew Bailey expects 'pronounced recovery' for economy

Economy
Shoppers walk along a busy Oxford Street in London, England, on December 5, 2020. Shops opened in December in the capital following a November lockdown, before shutting again in the middle of the month, causing an increase in clothing prices. Getty

UK inflation up to 0.6% in December despite Covid curbs

Economy
Trucks on the approach road to the Sevington Inland Border facility for customs clearance near Mersham, UK. Bloomberg

Brexit border trouble grows as key customs system hits limit

Business

Toyota-backed firm plans to roll out 10,000 hydrogen-powered taxis by 2024

Business

More than 100 million global tourism jobs set to return this year, industry body says

Travel and Tourism

Pandemic-hit UK pubs group Wetherspoons seeks to raise cash again

Business
IN DEPTH
 Pro EU campaigner Steve Bray outside parliament as MP's voted on the Brexit deal in London, Britain. MPs overwhelmingly voted in favour of the EU (Future Relationship) Bill by 521 votes to 73 on Wednesday. EPA

Why 'a thin deal is better than no-deal' for Britain's businesses

Economy
Demand for socially responsible investments has exploded in the wake of the Covid-19 pandemic, helping investors realise just how important environmental, social and governance considerations are to their portfolios. Getty Images

Why the sustainable investing boom is set to continue into 2021

Money
The next generation of ultra-wealthy women will transform family and banking dynamics as they attain higher levels of education and become more involved in family businesses, a new survey by Barclays Private Wealth found. Getty Images

Ultra-wealthy women to transform family financial dynamics over the next decade

Money
An investor looks at an electronic board showing stock information in Shanghai. In February, when Wuhan became the centre of the coronavirus pandemic, few would have bet on China being the best-performing major global stock market of 2021. Reuters

Here's where to invest your money in 2021

Money
A terrace of residential houses in the Notting Hill district of London, U.K., on Tuesday, Nov. 24, 2020. Asking prices for U.K. homes slipped this month as owners sought to get sales agreed in time to benefit from a temporary tax cut. Photographer: Simon Dawson/Bloomberg Photographer: Simon Dawson/Bloomberg

What’s next for the UK property market? – Pocketful of Dirhams

Money
young asian woman uses digital tablet on virtual visual screen at night. Getty Images

Can Artificial Intelligence make us better investors? – Pocketful of Dirhams
epa08923391 A Trump supporter holds a placard reading ÔDeep State Voter Fraud! Media and Big Tech Information WarfareÕ as Pro-Trump protesters demonstrate in support of US president Donald Trump in front of the City Hall in Los Angeles, California, USA, 06 January 2021. Right-wing conservative groups are protesting against Congress counting the electoral college votes. Dozens of state and federal judges have shot down challenges to the 2020 presidential election, finding the accusations of fraud to be without merit. EPA/ETIENNE LAURENT

Left holding the mic: will shareholders still love Twitter and Facebook?
British Union flag in front of the Elizabeth Tower at Houses of Parliament in central London, March 29, 2017. AP

Is now the time to invest in post-Brexit Britain? – Pocketful of Dirhams
Bitcoin was down 6.3% at 7.06pm on Sunday but has enjoyed a fourfold increase in value against the US dollar over the past 12 months. Reuters

Can Bitcoin’s value really soar to $400,000? – Pocketful of Dirhams
A lone pedestrian walks through the City of London. The third lockdown in England along with a sharp increase in border controls following Britain’s exit from the European Union will force the UK's GDP downwards in the first quarter of this year. AFP

UK economy set for 3.4% slump in first quarter with interest rates cut to 0%
 Pro EU campaigner Steve Bray outside parliament as MP's voted on the Brexit deal in London, Britain. MPs overwhelmingly voted in favour of the EU (Future Relationship) Bill by 521 votes to 73 on Wednesday. EPA

Why 'a thin deal is better than no-deal' for Britain's businesses
Dubai non-oil private sector economy returned to growth at the end of 2020. Reem Mohammed / The National

Counting down 10 big business moments from 2020: Business Extra
A Resolution Foundation report found stark disparities in the wealth of ethnic groups in the UK. Alamy

How to get your savings on track for a bumper 2021 – Pocketful of Dirhams

MONEY

India and Philippines topped the list of recipient countries for Emirates NBD's DirectRemit transactions. Pawan Singh / The National 

Emirates NBD sees digital money transfers increase 20% in 2020

The Debt Panel: 'We are struggling to juggle our debts on a reduced salary. Should we apply for help under the Tess programme?'

Markets take a breather as they await further announcements from Joe Biden

Can Artificial Intelligence make us better investors? – Pocketful of Dirhams

Dubai's consumer confidence at the highest level since 2017

BANKING

The deal will make FAB one of the largest foreign lenders by assets in Egypt. Courtesy FAB

FAB agrees to buy Bank Audi's Egypt subsidiary

Sustainable investing set to grow in 2021 amid pandemic recovery, ADGM chairman says

Emirates NBD sees digital money transfers increase 20% in 2020

Global finance and energy leaders to address Future Investment Initiative summit in Riyadh

WEF's online Davos Agenda to focus on rebuilding trust in post-Covid world

AVIATION

The core stage for the first flight of Nasa's Space Launch System rocket undergoes a hot fire test at the agency's Stennis Space Center near Bay St. Louis, Miss. All four core-stage engines fired for barely a minute, rather than the intended eight minutes. Nasa blamed the automatic shutdown on the strict test limits. Courtesy Nasa. 

Nasa shares new details of what happened during ground test

Canada to lift ban on Boeing 737 Max on January 20

Etihad Airways and Emirates to trial Iata's Travel Pass

Abu Dhabi restructures Etihad Aviation Group's board

Richard Branson's Virgin Orbit launches rocket into space from wing of Boeing 747

PROPERTY

Under a recent framework signed between the Abu Dhabi government and Aldar, the developer will manage Dh30 billion worth of major projects. Chris Whiteoak / The National  

Abu Dhabi approves capital projects framework between Aldar Properties and government

Dubai property market to offer more bargains as analysts forecast further price falls

Dubai built more high-rises than any other city in 2020

Homefront: ‘What are the pros and cons of rent-to-own plans in the UAE?’

Arabtec appoints advisers to sell subsidiaries ahead of liquidation

ECONOMY

The presidential inauguration plays on a screen as trader Timothy Nick works in a booth on the trading floor, January 20, 2021. AP

Wall Street closes at record high after Biden takes office

Bank of England's Andrew Bailey expects 'pronounced recovery' for economy

FAB agrees to buy Bank Audi's Egypt subsidiary

ESG forms the core of UAE's sovereign funds' investment strategy

Sustainable investing set to grow in 2021 amid pandemic recovery, ADGM chairman says

TECHNOLOGY

Dubai's Network International bought Nairobi-based payments company DPO Group in July last year for $288m - a deal Botho Emerging Markets Group founder Isaac Kwaku Fokuo describes as a 'win-win' for both companies. Image courtesy of Network International

Why thoroughbreds will outpace unicorns in the race towards profitability

Neom’s head of technology describes his vision for the future city: Business Extra

UAE e-scooter start-up Fenix rolls out subscription-based rental service in Abu Dhabi

Microsoft participates in Cruise's $2bn funding round

Alibaba founder Jack Ma makes first public appearance in two months

TRAVEL AND TOURISM

Dune bashing in the desert. The World Travel & Tourism Council said travel companies are reporting significant increases in forward bookings. Jeff Topping / The National

More than 100 million global tourism jobs set to return this year, industry body says

Etihad Airways and Emirates to trial Iata's Travel Pass

Richard Branson's Virgin Orbit launches rocket into space from wing of Boeing 747

Eurostar could go bust without rescue package

UK bans arrivals from Portugal and South America over new strain fears

COMMENT

Dubai's Network International bought Nairobi-based payments company DPO Group in July last year for $288m - a deal Botho Emerging Markets Group founder Isaac Kwaku Fokuo describes as a 'win-win' for both companies. Image courtesy of Network International

Why thoroughbreds will outpace unicorns in the race towards profitability

What an Alibaba-owned start-up can teach us about innovation

Why a new energy mix will provide the bedrock for a more stable future

How Covid-19 helped the sustainable finance industry to grow

Why the turnaround in LNG prices has been so surprising

MARKETS

The presidential inauguration plays on a screen as trader Timothy Nick works in a booth on the trading floor, January 20, 2021. AP

Wall Street closes at record high after Biden takes office

Alibaba founder Jack Ma makes first public appearance in two months

Netflix shares jump 13% after subscriptions surge past 200 million

Markets take a breather as they await further announcements from Joe Biden

Volatility in cryptocurrencies is hampering their wider adoption

ENERGY

The possible return of Iranian oil to the market after Joe Biden’s victory in the US presidential elections “will have a significant impact” on Opec+ policy . Reuters

Return of Iranian oil expected to have ‘significant impact’ on Opec+ policy

Sustainable investing set to grow in 2021 amid pandemic recovery, ADGM chairman says

Mubadala and Schneider to explore opportunities for clean energy

Masdar's new 'Green Reit' to be managed by Emirates NBD

Tabreed and Masdar to boost collaboration by connecting cooling infrastructure

Business Extra
The logo of Alibaba Group is seen at its office in Beijing. The company is planning to raise $5bn through a bond sale this month. Reuters

What the US-China economic rivalry means for the Middle East: Business Extra

epa08885417 Containers are loaded on the CMA CMG Champs Elysee freighter at the Port of Southampton, Britain, 15 December 2020. Talks are still ongoing between the European Union (EU) and Britain over the final Brexit trade deal. New rules in travel, transport and trade will come into place on 01 January 2021 as the UK's transition period for leaving the EU will end. EPA/NEIL HALL

Feryal Ahmadi of DMCC on how global trade will be remapped in the 2020s
Young man holding wallet and counting money, Jersey City, New Jersey, USA - stock photo. Getty Images

What’s in store for investors in 2021?– Pocketful of Dirhams
Wind turbines beside a highway in Jordan's Ma'an governate. George Kell, chairman of ESG-focused fund manager Arabesque Partners, says artificial intelligence will play a greater role in responsible investing. Alamy

‘Adapt or die’: the UN’s corporate sustainability pioneer shares lessons of 2020
Noor Sweid, founder of Global Ventures. Courtesy: Global Ventures

Noor Sweid on how to pitch start-up investors in a challenging time
Investing in property in th UAE is seen as a safe bet because it offers good capital appeciation and rental returns. Getty Images

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