Bloomberg This week’s US inflation print and Federal Reserve decision might be at the forefront of most investors’ minds, but for some of Wall Street’s most prominent strategists it’s the prospect of future profit downgrades that’s the biggest worry for stocks. According to notes from Morgan Stanley’s Michael Wilson and Goldman Sachs Group’s David Kostin, earnings could contract more than ...

Riyadh / WAM Saudi Arabia’s real gross domestic product (GDP) grew by 8.8 percent in the third quarter of 2022 compared to the same period last year driven by an increase in oil activities, according to a report released by the General Authority for Statistics (Gastat). Gastat noted that the real GDP growth in the third quarter was up 2.1 ...

  Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan sent a congratulatory cable to Ibrahim Traoré, the President of the transitional period and President of Republic of Burkina Faso, on the occasion of his country’s Republic Day. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler ...

  Geneva / WAM Some 20 million jobs could be created by investing in policies that support nature and address climate change, disaster risk, food insecurity, and other major challenges, according to a UN report Launched by the International Labour Organization (ILO), UN Environment Programme (UNEP) and International Union for Conservation of Nature at the UN’s Biodiversity Conference (COP15) in ...

  Bloomberg Tata group-owned Air India Ltd. is close to signing a deal with Boeing Co to buy up to 150 737 Max planes, marking the first major aircraft order after the carrier’s privatisation, the Economic Times reported, citing people it did not identify. Air India is likely to place a firm order for 50 737 Max jets with an ...

  Dubai / WAM The Museum of the Future received a global award recognising its commitment to diversity, accessibility, inclusion, and equity, reflecting its vision for a brighter future that is designed with everyone in mind. The museum won a Roy L Shafer Leading Edge Award, also known as an ‘Edgie’, which is presented by the Association of Science and ...

  Dubai / WAM The United Arab Emirates launched its latest space mission, Rashid Rover, as part of the Emirates Lunar Mission, representing a pioneering national endeavour in the space sector and a historic moment that, if successful, will be the first Emirati and Arab mission to land on the surface of the moon. His Highness Sheikh Mohammed bin Rashid ...

  Dubai / WAM Dr Mohammed Al Zarooni, Chairman of the World Free Zones Organisation (World FZO), headed a delegation from the World FZO on an official visit to the Dominican Republic and the Republic of Cuba to outline trends and factors to advance the future growth of free zones, in addition to identifying bilateral cooperation mechanisms to support the ...

  Dubai / WAM The Ministry of Health and Prevention (MoHAP) has announced that more than four million insurance claims have been processed in the past eight months only through “Riayati”, the digital healthcare platform for the National Unified Medical Record (NUMR) programme, with an average of 28,000 transactions a day. The ministry also announced that since the launch of ...

  Dubai / WAM Dubai Electricity and Water Authority (Dewa) has completed 93% of the 829 megawatts (MW) 4th phase of the H-Station power plant in Al Aweer with investments totalling AED 1.1 billion. This phase will increase Al Aweer Power Station Complex total capacity to 2,825MW under climate conditions of 50 degrees celsius and 30% relative humidity. Key testing ...