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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 ...

Sharjah / WAM Sharjah’s gross domestic product (GDP) expanded by an annual 4.8 percent in 2021, as per official data released by the emirate’s Department of Statistics and Community Development (DSCD). With nearly AED130.5 billion in GDP earnings last year compared to AED124.6 billion in 2020, the emirate’s economy, particularly the non-oil sectors, accelerated reinforcing its growing status as a ...

  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 ...

  KHARTOUM / WAM The Emirates Red Crescent (ERC), through the UAE Embassy in the Republic of Sudan, has presented three integrated solar-powered stations to provide water in areas experiencing scarcity of this vital resource in Sudan’s North Kordofan State. The initiative is part of ERC’s efforts to expand the scope of Suqia UAE projects in many countries that face ...

  Dubai / WAM Dubai Electricity and Water Authority (Dewa) power capacity has increased from 43 megawatts (MW) in 1970 to 13,417 MW in 2021, a 300-fold increase. Its water production capacity increased from zero to 490 million imperial gallons per day (MIGD). Originally, there were no desalination stations as Dubai only had groundwater wells. Saeed Mohammed Al Tayer, MD ...

Bloomberg The US announced additional military aid for Ukraine as Defense Secretary said that Washington wants to see Russian forces ground down so they can’t attempt a repeat of the war. Speaking to reporters in Kyiv during the highest-level US visit to Ukraine since Russia invaded two months ago, Austin and Secretary of State Antony Blinken committed a total of ...

PANJGUR / PAKISTAN / WAM The UAE Pakistan Assistance Programme (UAE PAP) has announced the start of commercial production at Dates Processing Factory Punjgur in Pakistan, which was built in Panjgur district, Balochistan province by UAE PAP and funded by the Abu Dhabi Fund for Development (ADFD) at a cost of $6.36 million. The project was carried out under the ...

Dubai / WAM His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance and President of the Dubai International Financial Centre has approved the Dubai International Financial Centre (DIFC) Courts Strategic Work Plan 2022- 2024. Encapsulated within a four-pillar mandate, the new three-year plan outlines an ambitious drive for full ...