Blog List Layout

Bloomberg Chancellor Olaf Scholz urged citizens to continue their energy-saving drive and said Germany’s new floating LNG terminals will make Europe independent of Russian gas for the long term. In his New Year’s address to the nation, Scholz acknowledged that the energy crisis triggered by Vladimir Putin’s invasion of Ukraine was a “tough test” for the continent’s biggest economy. But ...

Bloomberg China’s abrupt reversal of its Covid Zero policy pushed economic activity — its service sector in particular — to the slowest pace since February 2020, as the virus swept through major cities and prompted people to stay home and businesses to shut. The official manufacturing purchasing managers index fell to 47 this month from November’s 48, the National Bureau ...

  Bloomberg South Korea’s exports continued to decline in December in a sign of cooling global demand as higher interest rates weigh on consumption. Overseas shipments dropped 9.5% from a year earlier, compared with economists’ forecasts for an 11.1% decline, according to data by the trade ministry. Imports fell 2.4%. The trade shortfall was $4.7 billion in December, resulting in ...

Bloomberg North Korean leader Kim Jong-un pledged to increase his nuclear arsenal in the new year to stifle US and South Korean hostile acts, in a policy-setting address where he left almost no opening for a return to long-stalled disarmament talks. In a speech that came at the end of a nearly weeklong meeting of his ruling Workers Party, Kim ...

Bloomberg UK Prime Minister Rishi Sunak told Britons that the problems bedeviling the country won’t disappear in 2023, a warning that prompted the Labour Party to accuse the government of wrecking the economy. In his first New Year’s address as prime minister, Sunak struck a sombre tone, acknowledging that it had been a difficult year for the country. “I am ...

Bloomberg US labour board prosecutors have concluded that Starbucks Corp illegally forced out a New York barista who has been a key architect of the union campaign that swept through hundreds of its cafes this year. The union leader, Jaz Brisack, resigned her Starbucks position in September, alleging that the company had pushed her out by changing its scheduling policies ...

  Bloomberg Twitter Inc was sued for failing to pay $136,250 in rent for its office space in San Francisco. The landlord, Columbia Reit – 650 California LLC, says it notified Twitter that it would be in default on its lease for the 30th floor of the Hartford Building in five days unless the rent was paid. The tenant failed ...

Bloomberg Tesla Inc shares have fallen so far, so fast that some individual investors are piling in, seeing a chance to pick up what was once Wall Street’s highest flying stock on the cheap. But would-be bargain hunters may want to take a closer look. Even after 2022’s record 65% drop, the electric-car maker’s meteoric surge during 2020 and 2021 ...

Dubai / WAM Dubai Courts signed a memorandum of understanding with Moro Hub, a subsidiary of Digital Dewa, the digital arm of Dubai Electricity and Water Authority, to enhance their collaboration in digital transformation and cybersecurity. Leveraging on Moro’s capabilities in the digital security field, the MoU will serve the society’s interest in providing a comprehensive legal framework to combat ...

  Sharjah / WAM His Highness Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, announced the provision of additional monthly grants as a gift to Sharjah citizens who have retired from federal entities and other institutions within the Emirates, to be deposited in their bank accounts beginning in January 2023, to ensure a decent ...