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  Bloomberg Consumer price inflation accelerated to a four-decade high, adding pressure on the Bank of Canada to deliver more aggressive interest rate hikes in the coming weeks. Annual inflation rose to 7.7% last month, up from 6.8% in April, Statistics Canada reported in Ottawa. That’s the highest since January 1983 and well above economist expectations for a 7.3% increase. ...

  Bloomberg New York’s biggest mall has reached a deal with lenders to avoid a default after the pandemic and years of retail turmoil left it deeply underwater on its mortgages. Destiny USA, a 2.4 million-square-foot (223,000-square-meter) shopping center in Syracuse, owed $430 million on two mortgage-backed securities that missed a June 6 repayment deadline. The mall’s owner, Pyramid Management ...

Bloomberg German business confidence unexpectedly deteriorated on mounting fears over energy supplies from Russia that are raising the prospect of a recession in Europe’s biggest economy. A gauge of expectations by the Munich-based Ifo Institute fell to 85.8 in June from 86.9 in May, defying analyst predictions that two months of gains would continue. An index of current conditions edged ...

Abu Dhabi / Agencies Under the directives of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, an air bridge carrying food and medical supplies has begun operating to Afghanistan, and a medical team and field hospital have been dispatched. The aid shipment comes as part of the UAE’s efforts to address the current situation in Afghanistan and its effective ...

Abu Dhabi / WAM His Highness Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of Crown Prince Court and Chairman of Etihad Rail, has visited the final package of Stage Two of the UAE National Rail Network, which extends for 145 kilometres from Sharjah to Fujairah Port and Ras Al Khaimah, to review the progress of rail construction works ...

  ABU DHABI / WAM The General Women’s Union (GWU) launched the first training course of the Cyber Pulse initiative for women and families, in collaboration with the UAE Cybersecurity Council, the Telecommunications and Digital Government Regulatory Authority (TDRA), the Supreme Council for Motherhood and Childhood and the Khalifa Empowerment Programme (Aqdar). The training initiative, held at the GWU headquarters ...

  Dubai / WAM Dubai Airports has issued a passenger advisory alerting travellers about Dubai International (DXB) getting exceptionally busy over the next two weeks as a result of schools breaking for summer and the Eid Al Adha holidays. According to the operator, some 2.4 million passengers are expected to pass through DXB between June 24 and July 4, with ...

  Bloomberg Rescue and relief teams are struggling to reach survivors of a deadly earthquake that hit Afghanistan’s remote southeast, killing at least 1,000 people and injuring hundreds more even as the country battles multiple humanitarian crises. The eastern Paktika province, home to some of the country’s most impoverished farmers and cattle herders, was the worst hit, several officials from ...

  Abu Dhabi / WAM The Ministry of Finance announced that the revenues of federal authorities in the first quarter of 2022 amounted to AED11.339 billion while their expenditures amounted to some AED11.354 billion during the same period. In the financial performance report of the outcomes of the implementation of the general budget of the Federation for the first quarter ...

  Abu Dhabi / WAM The Ministry of Industry and Advanced Technology (MoIAT) signed an agreement with Pure Health, the UAE’s largest integrated healthcare group, to join the National In-Country Value Programme, one of the key pillars of the national industrial strategy. As part of the agreement, that was signed on the second day of the “Make it in the ...