Bloomberg Denmark broke European Union (EU) rules by letting local dairy producers market and export a white, crumbly cheese as “Feta” outside the region, the EU’s top court said. The European Commission, backed by Greece and Cyprus, sued Denmark in 2019 for failing to prevent or stop the “direct breach” of the European Union protection the name enjoys. Greece ...

  Bloomberg Volkswagen AG and other car markers risk violating European Union rules — and face more consumer claims — after the bloc’s top court said the use of IT meant to protect car components from damage at certain temperatures could be illegal. In a dispute stemming from the aftermath of the diesel scandal that roiled the German car giant, ...

  Bloomberg The Bank of France said the economy grew by about 0.25% in the second quarter, despite record inflation, the knock-on effects of Russia’s invasion of Ukraine and growing uncertainty about the outlook for business. According to the central bank’s assessment, which is based on a monthly survey of 8,500 firms, industrial activity was stable and the services advanced ...

  Bloomberg Argentines face the prospect of 90% inflation by year end after the economy minister’s exit triggered overnight price rises and the central bank comes under pressure to let the peso depreciate more rapidly. That would be the fastest pace since hyperinflation three decades ago, and the highest rate in the world outside Venezuela and Sudan, according to forecasts ...

  Bloomberg US equity futures fall along with stocks in Europe and the dollar resumed its upward march on Thursday after high US inflation hardened expectations for more aggressive Federal Reserve monetary tightening that could trigger a recession. The Stoxx Europe 600 index declined more than 1%, dragged down by the telecom sector, where Ericsson AB plunged more than 10% ...

Bloomberg Surprise policy tightening moves announced by central banks in Singapore and the Philippines signal Asia is now fully awake to the threat of accelerating inflation, and is playing catch up with its global peers. Analysts in the region recommend a number of strategies that investors can take in response to the increasingly hawkish environment, including favouring the Singapore dollar, ...

  Abu Dhabi / WAM His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Member of Abu Dhabi Executive Council and Chairman of Abu Dhabi Executive Office, has chaired a meeting of the Executive Committee of the Board of Directors (BoD) of Abu Dhabi National Oil Company (Adnoc). During the meeting, which was held at Adnoc’s headquarters in Abu ...

  Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has exchanged, during a telephone call, Eid Al Adha greetings with the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud of Saudi Arabia. The UAE President and King of Saudi Arabia exchanged their wishes for the two countries to flourish with continued ...

  Abu Dhabi / WAM The Abu Dhabi Health Services Company (Seha) has signed an agreement with Kahn-Sagol-Maccabi (KSM), the research and innovation centre of Israel’s Maccabi Healthcare Services, to promote joint medical research and technological innovation. The agreement – signed in Abu Dhabi – will also support the Emirate’s goal of building a genomic research registry to optimise clinical ...

  Abu Dhabi / WAM Mubadala Petroleum, the Abu Dhabi headquartered international energy company, on Wednesday announced that the drilling of the Timpan-1 exploration well located 150 kilometres offshore North Sumatra, Indonesia, has been completed with the discovery of a 390 foot gas column in high net to gross fine-grained sandstone reservoir. The exploration well, “Timpan-1”, is operated by Harbour ...