Bloomberg The French economy will grow only 0.2% in the second quarter after stagnating at the start of the year as companies face increasing difficulty getting supplies following Russia’s invasion of Ukraine, the Bank of France said. The share of industrial firms reporting supply issues affecting their output rose to 65% in the central bank’s monthly survey, the highest ...

  Bloomberg Spain will seek to tap European post-pandemic recovery loans, Prime Minister Pedro Sanchez said. Spain is working with the European Commission to tap “funds that are available as loans,” after having already received funds as unconditional grants, Sanchez said in an event in Madrid on Thursday. “We will seek to incorporate part of these loans to our recovery ...

  Bloomberg Denmark is raising its economic growth forecast for 2022 as the Nordic country’s strong labour market will help the economy overcome most global headwinds, according to government documents seen by Bloomberg News. Gross domestic product will likely expand 3.4% this year, up from the government’s main scenario in March of 1.6%, the documents showed. The economy will grow ...

  Bloomberg Swedish inflation surged more than expected in April, increasing expectations country’s central bank will have to speed up rate hikes it flagged last month to restore trust in its policy target. The central bank’s target measure, CPIF, accelerated to 6.4% on an annual basis in April, the highest level since 1991, according to data released by Statistics Sweden ...

  Bloomberg Global stocks and US equity-index futures tumbled as stubborn inflation in the world’s biggest economy bolstered the case for more aggressive monetary tightening by the Federal Reserve. Contracts on the S&P 500 Index slid 0.7% after the equity gauge slumped to the lowest level since March 2021. Nasdaq 100 futures lost 1.1%. Equity benchmarks from Hong Kong to ...

  Bloomberg Coinbase Global Inc founder Brian Armstrong had a personal fortune of $13.7 billion as recently as November and about $8 billion at the end of March. That’s now just $2.2 billion, according to the Bloomberg Billionaires Index, after a selloff in digital currencies from Bitcoin to Ether triggered a precipitous decline in the market value of Coinbase, the ...

ABU DHABI / WAM Food producers around the world face multiple challenges, and soil degradation is one of the most serious ones. According to global statistics, 52% of the world’s agricultural soil is currently degraded to varying degrees. Unsustainable human activities put a strain on the soil and deplete its organic content. This leads to soil degradation, exacerbating food shortages, ...

  Abu Dhabi / WAM Alpha Dhabi Holding has announced its financial results for the first quarter of 2022, reporting a net profit of AED2.84 billion, up significantly year-on-year from AED100 million. Revenues stood at AED8.17 billion for the first three months of 2022, representing a year-on-year increase of 700% with strong contributions from investments in the healthcare sector, which ...

  New Delhi / WAM Abdullah bin Touq Al Marri, Minister of Economy, said the implementation of a Comprehensive Economic Partnership Agreement (CEPA) signed between India and the UAE on February 18 came into force on May 1 with the arrival of the first imports exempted from tariffs. In an interview with the Emirates News Agency (WAM), Al Marri said ...

  Abu Dhabi / WAM Al Yah Satellite Communications Company on Wednesday announced its financial results for the three-month period ended March 31. Yahsat reported first-quarter revenue of AED362.5 million, reflecting an increase of 9.4% year-on-year. All business segments performed well, with a particularly exceptional performance in both managed solutions and mobility solutions, which increased by 26.0 percent and 45.4 ...