News

  Bloomberg Britain’s trade deficit narrowed sharply after a slump in natural gas prices reduced import costs and a flurry of exports of aircraft and cars. The deficit in goods and services trade fell by £6.5 billion to £20.2 billion in the three months to November. Exports to the European Union were hit again in the wake of Britain’s exit ...

  Bloomberg A mass exodus out of East Asia seems unlikely for US manufacturers in 2023, with any decision to diversify supply chains away from the region dictated by costs, as well as logistics considerations, according to separate reports. “The ultimate extent of how much production will be reshored or moved closer to home remains an open issue and will ...

  Bloomberg Sweden’s inflation rate reached double digits for the first time in more than three decades in December, as price increases show little sign of abating despite the central bank’s efforts. The CPIF measure of inflation that’s tracked by the Riksbank rose by 10.2% from a year earlier, according to Statistics Sweden. That’s more than the 9.8% expected by ...

  Bloomberg Germany’s economy probably stagnated in the final quarter of 2022, defying analyst expectations for a contraction and easing fears of a recession triggered by the war in Ukraine and soaring inflation. For the year as a whole, output increased 1.9% — down from 2.6% in 2021 and just ahead of the 1.8% estimate in a Bloomberg survey, the ...

  Dubai / WAM The 28th edition of the Dubai International Pharmacy Technologies Conference and Exhibition, Duphat 2023, concluded on Thursday in Dubai, generating exceptional interest from stakeholders across the pharmaceutical industry. The three-day global event saw commercial deals worth over AED6.12 billion, an increase of 20 percent from the previous year. Organised for the past 28 years by Index ...

  Abu Dhabi / WAM In his capacity as Ruler of Abu Dhabi, President His Highness Sheikh Mohamed bin Zayed Al Nahyan, has issued a law establishing Abu Dhabi Media Office. The new entity replaces Abu Dhabi Government Media Office, and has the Creative Media Authority and Abu Dhabi Media Company under its umbrella. As an independent entity, Abu Dhabi ...

  Abu Dhabi / WAM Khalifa Shaheen Al Marar, Minister of State, met with Dr Mahdi Safari, Deputy Foreign Minister for Economic Diplomacy of the Islamic Republic of Iran, and an accompanying economic delegation at the headquarters of the Ministry of Foreign Affairs and International Cooperation in Abu Dhabi. A series of meetings was held to discuss the potential for ...

Dubai / WAM DP World has teamed up with global shipping services provider AP Moller-Maersk (Maersk), to improve operational efficiencies, enhance customer service and collaborate on decarbonising. The long-term strategic partnership will provide support for Maersk’s customers and implement new processes to improve quayside productivity, all leading to faster gate turnaround times at Jebel Ali Port and reduced bunker fuel ...

Abu Dhabi / WAM The Environment Agency – Abu Dhabi (EAD) has successfully planted one million mangrove seeds using drones as part of the first phase of a drone mangrove plantation project supporting the Abu Dhabi Mangrove Initiative. The Abu Dhabi Mangrove Initiative was announced in February 2021 during Prince William, the Duke of Cambridge’s landmark visit to the UAE, ...

  Sharjah / WAM Arada awarded a major contract to build the four buildings in the Vida Aljada hotel complex, which is located at the Aljada megaproject in Sharjah. The contract will result in the construction of the 175-room Vida Aljada hotel, as well as 255 branded residences and 149 branded serviced apartments, all of which are based in Aljada’s ...