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Bloomberg Spain will raise its minimum wage by an inflation-busting 8% after the government and unions struck a deal, brushing aside calls from business groups to refrain from increases at a time of economic uncertainty. Prime Minister Pedro Sanchez, who faces a battle for reelection this year, has faced fierce opposition on the issue from industry lobby groups, which had ...

Bloomberg Peru’s inflation is forecast to have jumped to the highest level in a quarter century as official data start to reflect the damage wrought by two months of social unrest and highway blockades. The January report, due to be published Wednesday at 10 a.m. local time by the national statistics agency, is attracting greater-than-usual interest as economists try to ...

  Bloomberg The US and its allies Canada, the UK and Australia have imposed fresh sanctions on Myanmar, adding to pressure on the military regime, two years since it overthrew the civilian government led by Aung San Suu Kyi in a coup. US Secretary of State Antony Blinken said in a statement Tuesday the US restrictions target six individuals and ...

  Abu Dhabi / WAM Abu Dhabi Commercial Bank (ADCB) on Tuesday reported its financial results for fiscal year (FY) 2022, with AED6.434 billion in net profits, an increase of 23 percent compared to FY 2021. The bank’s net interest income was to the tune of AED10.194 billion, an increase of 15 percent compared to FY 2021, while non-interest income ...

Dubai / WAM Emirates NBD Securities, a leading brokerage firm in the UAE, has partnered with Abu Dhabi Securities Exchange (ADX) to provide traders with instant access to the exchange’s listed companies, enabling it to offer instant trading account opening and digital onboarding to another UAE stock exchange. The partnership will allow more than one million Emirates NBD customers to ...

Dubai / WAM Dubai Culture and Arts Authority (Dubai Culture), in cooperation with the Consulate General of Japan in Dubai, organises a photo exhibition “Dubai in the Year 1962”. This photo exhibition will be held at Al Safa Art and Design Library until March 17, to celebrate the 50th anniversary of the establishment of diplomatic relations between the UAE and ...

  Sharjah / WAM Arada has announced the completion of the first homes in East Village, the third residential phase in its AED24 billion Sharjah megaproject Aljada. In total, 1,621 apartments have been finished across 14 buildings. Featuring 2,000 units in total, East Village is targeted at the younger generation and consists of 16 apartment blocks that are characterised by ...

Bloomberg Exxon Mobil Corp. reaped a record $56 billion annual profit but disappointed some investors by holding the line on share buybacks. Full-year profit, excluding one-time items, jumped 157% from 2021, far exceeding the driller’s prior record of $45.2 billion in 2008, which at the time marked the biggest in US corporate history. The stock initially fell almost 4% in ...

Bloomberg Britain faces the bleakest two years of any major industrial nation with a recession in 2023 and the slowest growth of peers in 2024, the International Monetary Fund predicts. The UK will be the only Group of Seven member whose economy will shrink this year, with a contraction of 0.6%, the IMF said. That makes Britain’s outlook even worse ...

  Bloomberg Falling values are the latest headache for landlords in Europe who need to refinance their debt. It’s a problem for their lenders too. There’s a gap of €51 billion ($55 billion) between the amount owed by commercial property owners across Germany, France and the UK and the credit likely to be available for refinancing when the borrowings mature, ...