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Bloomberg European Union leaders may hold off on endorsing intervention in the bloc’s wholesale energy market as member states are divided on the most effective emergency options to curb soaring power and gas prices, exacerbated by Russia’s invasion of Ukraine. Instead, at a summit in Brussels, the EU heads of government may agree on immediate actions to replenish depleted natural ...

Bloomberg Russia has turned more destructive artillery, including “Kinzhal” hypersonic missiles, against Ukrainian cities, a top Ukrainian aide said. “Kinzhal & Bastion systems are used against peaceful cities,” Mykhailo Podolyak, an adviser to the office of President Volodymyr Zelenskiy, said on Twitter. It was the first official response from Ukraine to Russia’s claims that it has fired the powerful missiles ...

  RAS AL KHAIMAH / WAM Gulf Pharmaceutical Industries (Julphar) has reported its year end 2021 financial results, with revenues of AED1,143 million, a 100 percent increase as compared to full year 2020 revenue of AED573 million. The increase is primarily attributable to increased market share in key operating regions including the UAE and Saudi Arabia and the contribution from ...

  Sharjah / WAM Sharjah will shine a light on the rich cultural and literary legacy of Emirati and Arab artists and authors as part of its diverse programming agenda as Guest of Honour at the upcoming 2022 edition of Bologna Children’s Book Fair (BCBF), from March 21-24. Through an exciting range of activities, events, and visits organised by cultural ...

  ABU DHABI / WAM Around 7,035,000 people have benefited from the Emirates Red Crescent (ERC) Ramadan programmes in six Yemeni governorates, including Shabwa, Hadhramaut, Taiz, Hodeidah, Aden and Socotra, according to an ERC statement. Some 6,870,000 people benefited from the Ramadan Mir and Iftar project, while 165,000 people benefited from the Eid clothing initiatives. The programmes are in implementation ...

  Dubai / WAM The UAE’s National Association of Freight and Logistics (Nafl) has extended its support to the Federation of Freight Forwarders Associations in India for hosting the 3rd edition of Logix India a month after both countries signed the Comprehensive Economic Partnership Agreement (Cepa) to boost their merchandise trade to $100 billion over the coming five years. The ...

  Bloomberg Electricite de France (EDF) SA kicked off a deeply discounted rights offering of more than 3.1 billion euros ($3.4 billion), a stopgap measure as the state prepares to overhaul the ailing nuclear power giant. A broader reform of the debt-laden utility is planned by President Emmanuel Macron, who said some EDF assets should be nationalised. The firm, already ...

  Bloomberg Oyo, the high-profile affordable lodging startup that filed for an initial public offering last year, is considering slashing its fundraising target by half or even shelving the debut, according to people familiar with the matter. Faced with headwinds including slumping stock markets, Oyo-operator Oravel Stays Ltd could clip its Indian IPO from the nearly $1 billion initially sought ...

  Bloomberg The initial public offering of FabIndia Ltd, a retailer of clothing and furniture inspired by traditional Indian crafts, is a natural fit for global investors focused on environmental, social and governance criteria, according to its chief financial officer. “We are ESG in the way we operate in terms of connecting the artisans, the farmers,” Gopal Mishra said in ...

Bloomberg Only half of Chinese aged 80 and older are fully vaccinated against Covid-19, highlighting a key vulnerability as the country grapples with its worst outbreak since Wuhan and the prospect of reopening to the world. About 51% of over 80-year-olds have received two shots and some 20% have gotten boosters, health officials told reporters at a briefing in Beijing. ...