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  Abu Dhabi / WAM To further develop Egypt’s maritime industry, AD Ports Group has signed a Memorandum of Understanding (MoU) with the Egyptian Group for Multi-purpose Terminals, the commercial arm of the Egyptian Ministry of Transportation, to jointly oversee the development and operation of Egypt’s Ain Sokhna port and discuss cooperation to develop the maritime sector in Egypt. Under ...

  DUBAI / WAM Dr. Anwar Gargash, Diplomatic Adviser to UAE President, said on Wednesday that the UAE’s main approach is building bridges and advancing the agenda for stability and prosperity in this rapidly changing world. Dr Gargash made this statement during a panel, entitled ‘Are We Ready for A New World Order?’, organised as part of the World Government ...

  DUBAI / WAM India celebrated its National Day at Expo 2020 Dubai with cultural celebrations and support from a large, cheering crowd for the official ceremony in Al Wasl, with one of the country’s top government ministers looking to the future with optimism. Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence and Commissioner General of Expo ...

  Dubai / WAM The Mohammed bin Rashid Initiative for Global Prosperity (MBR Initiative) and the United Nations Human Settlements Programme (UN-Habitat) on Wednesday announced that they had started preparations to launch the first cohort of the Decade of Action Challenge to drive sustainable urbanisation. The two organisations conducted two Challenge Design Workshops, one virtually on March 23 and another ...

  Bloomberg A controversial UK oil project won a license extension, keeping open the possibility of development even after Shell Plc retreated amid a backlash from climate protesters. The Cambo field has received a two-year extension from the energy regulator, operator Siccar Point Energy Ltd said. The project was put on ice late last year after minority owner Shell chose ...

Bloomberg The Kremlin said there are no breakthroughs in talks with Ukraine as skeptical Nato allies evaluate whether Russia’s promise to scale back military operations in Ukraine marks a turning point in the conflict or simply a tactical shift. Attacks continued to be reported near Kyiv. President Joe Biden said he’ll wait and see whether Russia delivers on a pledge ...

  Bloomberg The economic damage from the war in Ukraine is worsening across Europe as already-record inflation soars further and Germany faces a danger of recession because of its dependence on Russian energy. President Vladimir Putin’s invasion has sapped euro-area confidence and sent consumer-price expectations to their highest level since records began in 1985. In Spain, inflation surged by almost ...

  Bloomberg Argentina’s economy contracted in January as a surge in coronavirus cases due to the omicron variant weighed on industrial manufacturing. Economic activity in January falls 0.5% from the prior month, better than analysts’ median estimate for a 1% contraction. From a year ago, the economy expanded 5.4% in the first month of the year, according to government data. ...

Bloomberg The European Union (EU) plans to ensure that products from handbags to laptops and mobile phones are more durable, in a bid to curb the environmental damage caused by their limited lifespans. Under the “Circular Economy Package” put forward by the European Commission on Wednesday, companies will have to show that the products they sell within the EU last ...

  Bloomberg Hurricane Ida and the freakish winter storm that froze Texas last February topped last year’s list of most damaging storms, according to the annual report on insurance industry losses caused by natural catastrophes put out by reinsurance giant Swiss Re. The report found that global economic losses from natural catastrophes such as floods, hurricanes and wildfires reached $270 ...