Weekly Roundup of World and GCC Financial News
U.K's Green plan bans diesel and gas car sales by 2030, Covid Shots Barrel Toward Finish Line in 300-Day Science Feat, Larry Fink Says Biden Will Be ‘Voice of Reason’ Markets Need.
U.K.’s Green Plan Backs 250,000 Jobs and Bans Gas Car Sales
Read more: Bloomberg
The most radical policy is perhaps the phasing out of diesel and gas car sales by 2030, 10 years earlier than previously scheduled. This puts the U.K. ahead of France and Spain, which have 2040 target dates, and in line with Ireland and the Netherlands. The only country with a more ambitious target for such a ban in Norway, with a date of 2025.
SEC Pushes Urgent Plan That Could Delist Chinese Companies
Read more: Bloomberg
By the end of this year, the SEC intends to propose a regulation that would lead to the delisting of companies for not complying with U.S. auditing rules.
Fang Xinghai, the vice-chairman of the China Securities Regulatory Commission sounded a positive “I think during the Biden administration we should be able to resolve that problem because it’s not an intractable problem,”.
Covid Shots Barrel Toward Finish Line in 300-Day Science Feat
Read more: Bloomberg
Moderna, working with the NIH, and Pfizer-BioNTech used the genome sequence to design a molecule called messenger RNA. Vaccines using mRNA have never been licensed for use in humans but were pressed into service because of the speed with which they can be made. Messenger RNA vaccine production is especially rapid. It’s a chemical process that eliminates the need for growing proteins or viruses.
Shuaa initiates $118mn real estate fund to offer ‘Citizenship by Investment
Read more: GCC Business
Citizenship by Investment is a competitive global market and the COVID-19 pandemic has only further increased demand as more and more people across the world are now thinking of how to medically, socially and financially secure their future,” stated Mr Mustafa Kheriba deputy chief executive and head of asset management Head at Shuaa Capital.
Abu Dhabi’s ADIO identifies its 3 PPP projects for procurement
Read more: GCC Business
The Noor Abu Dhabi LED Project involves the replacement of HPS/MS streetlights in Abu Dhabi Island with energy-efficient LEDs. Mr. Al Dhaheri remarked that the firm is “working with ADEK (Department of Education and Knowledge) in developing the first PPP school project.”
JPMorgan’s Jamie Dimon Says Congress Is Being ‘Childish’ on Stimulus
Read more: Bloomberg
A stimulus package is needed as a bridge for the economy as the world waits for vaccines to be widely distributed next year, Dimon said, adding that there is “deep, deep frustration” across the country, particularly among low-income groups that have been hit hardest by rising unemployment.
Larry Fink Says Biden Will Be ‘Voice of Reason’ Markets Need
Read more: Bloomberg
Fink said. “We need to get growth going. As we get growth, then this deficit, it’ll ultimately be probably north of $30 trillion. These deficits are going to have less impact if we have a broader, larger economy.”
Popular digital wealth manager StashAway expands to UAE
Read more: GCC Business
A new law regulating the growing wealth management sector of the country was approved by the UAE Cabinet in October. With low fees, no minimum balance and unlimited withdrawals, StashAway’s technology enables investing through an easy-to-use platform