Bloomberg AP Moller-Maersk A/S said the booming container market will normalize later than the transport giant previously expected, leading to a 25% boost in full-year operating profit. Lower volumes are pushing up the price of shipping containers for longer than previously foreseen, Maersk said, forecasting a 2022 profit of about $30 billion, measured as underlying earnings before interest, tax, depreciation ...

Bloomberg About 40% of US small businesses intend to raise selling prices by 10% or more amid decades-high inflation, according to a survey from the National Federation of Independent Business (NFIB). Overall, more than two-thirds of the respondents plan to increase prices in the next three months, according to the survey, conducted between April 14 and April 17 among 540 ...

Bloomberg Germany’s economy ministry wants to end subsidies for plug-in hybrid cars earlier than planned at the end of this year and cut a cash bonus for electric vehicles by a third from 2023, according to a person familiar with the plans. The move is part of attempts to gear subsidies more towards climate protection and the legislation is currently ...

  Bloomberg Blackstone Inc agreed to buy PS Business Parks Inc for about $7.6 billion, expanding its bets on real estate across the US. Affiliates of Blackstone Real Estate will buy Glendale, California-based PSB for $187.50 a share in cash, according to a statement. The price is roughly a 12% premium to PSB’s closing price. Under the deal, Blackstone agreed ...

Bloomberg Hong Kong is ready to launch yuan-denominated stock trading to cater to investors in Shanghai and Shenzhen, with final clearances from regulators in mainland China expected in the second half of the year, according to people familiar with the matter. The city’s own infrastructure is largely ready to accommodate trading of shares in the Chinese currency via the southbound ...

  Bloomberg US stocks rise in a late-day turnaround as dip-buyers emerged ahead of a busy week for Big Tech earnings. The S&P 500 rallied back in a choppy afternoon session to end near highs of the day, after falling to lows near the 4,200 level. The tech-heavy Nasdaq 100 climbed more than 1%. Twitter Inc extended gains after billionaire ...

  Abu Dhabi / WAM Masdar, one of the world’s leading renewable energy companies, and Hassan Allam Utilities, the investment and development arm of Hassan Allam Holding Group, announced that they have signed two memorandums of understanding with leading Egyptian state-backed organizations to cooperate on the development of green hydrogen production plants in the Suez Canal Economic Zone and on ...

Abu Dhabi / WAM The United Arab Emirates has expressed its sincere condolences and solidarity with the Federal Republic of Nigeria over the victims of the oil refinery explosion in the southeast of the country, which resulted in dozens killed. In a statement on Monday, the Ministry of Foreign Affairs and International Cooperation (MoFAIC) expressed its sincere condolences and sympathy ...

  Abu Dhabi / WAM Emirates Global Aluminium on Monday announced the company has agreed a revolving credit facility tied to the Term Secured Overnight Funding Rate (SOFR). SOFR is the emerging replacement to the US dollar London Interbank Offering Rate (LIBOR), which has been the global lending benchmark for decades but has been the subject of market manipulation accusations. ...

Dubai / WAM Emirates Development Bank (EDB) has announced the signing of a memorandum of understanding (MoU) with Food Tech Valley, which is being developed by wasl Asset Management Group, to provide financing solutions to small and medium enterprises (SMEs) and start-ups operating within the project. The MoU will help support entrepreneurship and innovation as well as contribute to Food ...