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UAE eases limits on foreign ownership to attract investors

The presidential decree changing the corporate law helps the UAE “strengthen its leading position regionally and globally as an attractive destination for projects and companies,” state-run WAM news agency reported.

The reforms allow foreign entrepreneurs and investors to set up their own companies without involving local shareholders, the agency said.

42 failed airlines and counting: Wait for vaccine crushes industr

“The fourth quarter and the first quarter of next year could be equally terrible,” IBA’s Stuart Hatcher said in an interview. “Airlines will be trying everything to get through to Easter, when higher demand should coincide with the roll-out of the vaccine, but there comes a point when the money runs out.”

Biden names Kerry as U.S. climate envoy, emphasizing diplomacy’s role in the issue

Biden has pledged to reverse course on climate from President Donald Trump, who doubts mainstream climate science. Trump pulled the United States out of the 2015 Paris agreement on climate, and dismantled Obama-era climate and environmental regulations to boost drilling, mining and manufacturing.

While secretary of state under former President Barack Obama, Kerry, 76, called climate change “the world’s most fearsome weapon of mass destruction.” In travels from glaciers in Greenland to the Solomon Islands, Kerry has emphasized cooperation on tackling climate change.

$22 billion tech giant dream of China’s Ping An Insurance face headwinds

China’s tightening grip on fintech firms and an antitrust crackdown complicate Ping An’s bid to lift its valuation closer to those garnered by tech giants like Alibaba Group Holding Ltd. and Tencent Holdings Ltd. The Shenzhen-based finance firm, which gets three-quarters of its revenue from insurance, trades at about 10 times 2019 earnings; Alibaba’s ratio is six times higher.

Ping An has pledged to plow more than $22 billion into research from big data to blockchain to make it more “tech” than “fin,” while carving out some of its units through public listings to maximize value.

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