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World Humanitarian Day… A celebration or a Eulogy?

Opinion Piece by Mariam Al Hammadi, Director General of The Big Heart Foundation

Sharjah, August 18, 2024

In the aftermath of the Canal Hotel attack in Baghdad, where 22 humanitarian workers, including the Special Representative of the UN Secretary-General in Iraq, tragically lost their lives, the UN General Assembly designated August 19 as World Humanitarian Day. It honours those who have sacrificed in the service of humanity and underscores the critical need for enhanced protection and legal safeguards for humanitarian workers. Despite these efforts, the escalating number of casualties among humanitarian personnel has reached a critical threshold, necessitating an urgent and resolute international response.

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Business & Investments

Cautious Market Outlook for The Year-end:Forex.com

How Rising Geopolitical Tensions & the Unwinding Yen Carry Trade Are Impacting UAE Equities & CBUAE Decisions

Dubai, 19 August 2024- After the yen carry trade triggered a spike in the VIX index, global equities, including those in the UAE, rebounded significantly. This recovery came in line with the positive expectations of a 25 basis points rate cut by the Federal Reserve in September.

Recent U.S. inflation data shows a slight uptick in the core Consumer Price Index (CPI) month-over-month from 0.1% to 0.2%, with the overall monthly CPI also increasing from -0.1% to 0.2%. This rise, driven by higher services inflation, suggests a 25-bps rate cut is more likely in September than a 50-bps cut. Meanwhile, the annual CPI decreased from 3% to 2.9%, revisiting 2021 levels. These developments have strengthened expectations for a rate cut by both the Fed and the Central Bank of the UAE (CBUAE).

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Automibiles & Motoring

Sustainable Mobility Start-Up, E Daddy Secures $15M Funding, Propelling Their Vision for a Greener Future in the Emirates

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In line with the UAE government’s sustainability goals, E Daddy aims to advance EV mobility as the first company to manufacture vehicles end-to-end in Dubai

Dubai, 19 August 2024 – E Daddy, an innovative solution for sustainable urban mobility, is set to transform the UAE’s electric vehicle landscape with its headquarters in Dubai. As the first company to proudly manufacture vehicles end-to-end in Dubai, E Daddy is backed by decades of experience and a USD 15 million (approximately AED 55 million) investment, priming them to lead the charge in electrifying the UAE and beyond.

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Business & Investments

American Express Middle East enhances the American Express® Platinum Credit Card in the United Arab Emirates with new benefits marking its 10th year anniversary

Dubai, United Arab Emirates – 19 August 2024: Celebrating a decade of The American Express Platinum Credit Card in the United Arab Emirates (UAE), American Express Middle East unveils additional and expanded benefits. Both new and existing American Express Platinum Credit Card Members in the UAE can enjoy an extensive range of new dining, travel, and everyday life benefits.

The new Platinum Credit Card benefits include:

  • 10% cashback on dining spend locally and abroad (up to 50 AED back monthly) making dining out even more rewarding.
  • AED 75 back monthly on grocery spend.
  • Enhanced access to more than 1400 airport lounges worldwide (up to12  visits each year per Card Member and 8 visits each year for 1 Supplementary Card Member, including accompanying guests), making shared travel experiences even more enjoyable.
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