Abu Dhabi based ADQ to launch region’s largest tech-enabled farming hub — gulfbusiness.com
Highlights:
– The new AgTech Park project, part of Abu Dhabi Ports’ industrial cities and free zone cluster, will also help the UAE establish itself as the region’s top fresh produce farming hub, reducing the nation’s dependency on premium food imports. This strategic location will increase the region’s perishable products and food supply processing, storage, and distribution efficiency.
– Earlier this year, high-tech agricultural firm Sokovo has signed an agreement with Dubai Industrial City to establish the hydroponic farm, which will grow fresh, pesticide-free produce, a statement said.
Read more.
Saudi Arabia Now Has The World’s Toughest Covid-19 Vaccine Rules – Bloomberg — www.bloomberg.com
Highlights:
– Officials in the world’s largest crude exporter are counting on a strategy that makes vaccination all but mandatory to keep their economy open. That’s made the nation of 35 million a test case in what happens when people who are reluctant to get inoculated are pushed into a corner.
– Few countries have imposed restrictions as tight as those in Saudi Arabia, where refusal to vaccinate can block shoppers from grocery stores, prevent 12-year-olds from attending school, stop citizens from travelling abroad and cost workers their jobs in every sector.
Read more.
Living at AlJurf
Find Out More About Living at AlJurf
AlJurf Gardens harnesses nature’s raw beauty and combines it with refined heritage-inspired architecture and contemporary design to present a sanctuary of wellness and calm.
Throughout the villa spaces, the refined and controlled raw beauty of nature is repeated in different scales, to showcase its exquisiteness across every typology of homes, gardens and courtyards.
Learn more.
Letter Requesting Donation for School
Our school “Lady of the Tower School for the Sisters of the Holy Family” is located in Bekaa- Lebanon in the district of Deir El Ahmar. — atiejelmouallem.com
Its ultimate goal is our children’s spiritual and educational lives.
From 1932 till now, our school still taking care of poor children, but due to the economic circumstances in Lebanon in general, and in our school in particular, we require your generous attention in the form of donations.
Your donation and help can bring a smile to thousands of faces by helping them to achieve a good life and to continue their learning in our school.
Learn more.
Highlights:
– Most recently, The Bitcoin Fund became the first crypto fund to be listed on a major exchange — the Nasdaq Dubai, while the Bank of Israel leverages Ethereum’s technology for a digital shekel trail.
– The United Arab Emirates government, for example, launched the Emirates Blockchain Strategy 2021 to transition half of all government transactions onto the blockchain by this year. Dubai’s Multi Commodities Center (DMCC) also established a Crypto Center earlier this year to support businesses in the blockchain and cryptographic sectors. Similarly, the Saudi Arabian Monetary Authority was also among the first in the world to deploy blockchain technology for money transfers.
– The Central Bank of Bahrain’s Fintech and Innovation Unit is one of such that provides Sandbox authorization for companies to test innovative fintech solutions, encouraging further growth and progress for the industry.
Read more.
Xi’s Forgetting What Made China Great Again, as Tencent, Pinduoduo Kowtow – Bloomberg — www.bloomberg.com
Highlights:
– Whether directed at data security or education, the incoming rules have taken on an anti-capitalist edge, replete with vague and threatening pronouncements and attacks that appear aimed at specific businesses that give off a whiff of impending, arbitrary punishment.
– China’s economic miracle was not a triumph of state action, but its withdrawal, starting when Deng Xiaoping dismantled the communes and prohibitions on private enterprise in the 1980s. That freed the ample entrepreneurial energies of Chinese farmers, workers and businesspeople, who responded with an explosion of individual initiative that propelled growth and wealth.
Read more.
Where Investors In Charge of $3 Trillion Are Putting Their Money – Bloomberg — www.bloomberg.com
Highlights:
– Bloomberg News spoke with institutional investors wit.h $3 trillion in combined assets under management to ask how they’re navigating economic turmoil caused by unpredictable recoveries and China’s shifting rules.
– What follows is a look at their strategies.
– Temasek remains bullish on China over the long term. Bets in the country account for 27% of its portfolio.
– A spokesman for Temasek later added it will continue to invest in themes including the future of consumption in China and elsewhere.
– Singapore’s GIC sovereign wealth fund is also positive on China partly because of the way the country managed Covid-19, according to Chief Executive Officer Lim Chow Kiat.
– Regulatory pressure in China, the U.S. and the European Union have triggered volatility in markets, creating buying opportunities for GIC.
– Australia’s sovereign wealth fund has pulled back from China amid the increasingly strained relationship between the respective governments, according to Future Fund chairman Peter Costello.
– For the first time in six years we’re positive on alternatives, with hedge funds being one of them.”
– Pictet Wealth Management CIO Cesar Perez Ruiz is still positive about China markets but suggests investors apply a higher risk premium and pick Hong Kong-listed options when possible.
– Norges Bank Investment Management CEO Nicolai Tangen told Bloomberg Television that ESG and regulatory concerns were not necessarily reasons to cut back in China. The country accounts for 5% of its allocations.
– China Renaissance’s Bao Fan is looking to back Chinese startups deemed less susceptible to government scrutiny.
– Now Bao’s mandate for investing is to focus on growth-stage companies, investing in about 10 companies a year.
Read more.
Singapore Has a New Richest Person With $20 Billion Fortune – Bloomberg — www.bloomberg.com
Highlights:
– Forrest Li, Sea Ltd.’s billionaire co-founder, chairman and chief executive officer, has become Singapore’s richest person as shares of his company surged.
– Sea, Southeast Asia’s most valuable company, has been turning to fintech for further growth beyond gaming and e-commerce, while also expanding beyond the region.
– Sea’s broader success has been founded on its mobile game Free Fire, which has exceeded 1 billion downloads on Google Play. It’s also been driven by its e-commerce platform, Shopee, which has become the second-most downloaded shopping app on Android and iOS globally, Li said on the earnings call, citing App Annie data.
Read more.