WASHINGTON: With US prices rising at a rate not seen in decades, President Joe Biden’s administration is looking for ways to turn the tide. From relaxing tariffs on China to addressing the semiconductor shortage, there are many actions Washington could take to keep price increases in check. 

DUBAI: Airbus has signed a Memorandum of Understanding (MoU) with Jazeera Airways, the Kuwait-based carrier, for twenty A320neos, eight A321neos and 5 further options. The deal is valued in excess of at $3.3 billion at list prices – the actual deal remains confidential. 

KUWAIT: Real estate sales rose further in 3Q21, building on the full recovery seen in the first half of the year. Sales in the quarter totaled KD1.1 billion (+16 percent q/q; +63 percent y/y), averaging a robust KD 360 million per month, on the back of strong activity in the residential sector and a significant increase in home and land prices. 

ABU DHABI: Abu Dhabi’s national oil company announced yesterday a $6 billion investment in crude oil drilling as it ramps up production capacity. 

DUBAI: Aviation giant Emirates expects to return to profitability “in the next 18 months” as the sector bounces back from the COVID pandemic, its president Tim Clark said yesterday. The Dubai-based carrier said last week it was on the path to recovery as six-month losses dropped by more than half from a year earlier.

KUWAIT: The first Kuwait Public-Private Partnership Conference (PPPKW) was launched under the patronage of His Highness the Prime Minister Sheikh Sabah Khaled Al-Hamad Al-Sabah with the sponsorship and participation of Health Assurance Hospitals Company (DHAMAN), where DHAMAN CEO Thamer Arab delivered a keynote speech in which he expressed gratitude to the sponsor of the conference His Highness the Prime Minister, as well as his representative the Deputy Prime Minister and Minister of Defense Sheikh Hamad Jaber Al-Ali Al-Sabah, noting the importance of the event, which reflects the strategic economic direction of the State of Kuwait to expand the scope of private sector participation, as it is the most important pillar of the economic system, and considered as one of the main directions for facing challenges and implementing the vision of New Kuwait 2035.

KUWAIT: Domestic credit growth picked up to 2.1 percent q/q in 3Q2021 with the y/y increase at 4 percent through September. For the fifth consecutive quarter, household lending was the main growth driver, while business lending has been slow to recover from the pandemic-related slowdown.

LONDON: Energy giant Shell yesterday announced plans to switch headquarters from the Netherlands to the UK and drop Royal Dutch from its name in a major shakeup that angered the Dutch government. 

BEIJING: China’s economy showed signs of stabilizing in October, according to data yesterday, with retail sales and factory output beating expectations as a power supply crisis appeared to ease.