News

  Bloomberg One of Britain’s biggest suppliers of carbon dioxide halted output at a plant in England, further reducing local supplies of the gas vital for production of food including fizzy drinks. CF Industries Holdings Inc stopped ammonia production at its Billingham factory in northeast England earlier this week, the company said. It warned in August of the temporary outage, ...

  Bloomberg China’s heated rivalry with the US over tech supremacy is adding fresh pain points to the world’s second-largest stock market, as the Biden administration steps up efforts to reduce economic reliance on the Asian nation. From biotech to electric vehicles, shares of China’s key manufacturers have seen heavy selling recently as US initiatives to secure domestic supply chains ...

  Bloomberg Tesla Inc wants to double vehicle sales in Germany to 80,000 this year, German weekly Automobilwoche reported, citing a local manager. The electric car manufacturer sold 39,714 units in Europe’s biggest economy in 2021 and will continue to target an annual doubling of shipments, the publication said. The company has sold 24,734 vehicles in Germany in the year ...

  Bloomberg The key issue that almost triggered the first US railroad strike in 30 years and threatened to hobble the economy wasn’t wages, but sick leave, highlighting broadening worker demands in a tight labour market. Union leaders and railway companies agreed on a deal that includes language allowing workers to take time off for doctor appointments, hospitalisation or surgeries, ...

DUBAI / GULF TIME ARUNIMA MISHRA The world’s most advanced metabolic fitness platform, Ultrahuman, is now embarking on a great start in the UAE. Started by Mohit Kumar and Vatsal Singhal in 2019 in India, while super sports enthusiast Anwar Shaikh brought the metabolic platform to the UAE.
“The UAE is a great launchpad for international expansion for it is home ...

  JEDDAH / WAM The Kingdom of Saudi Arabia announced the discovery of new sites for gold and copper ore deposits in the Madinah region. According to the Saudi Press Agency (SPA), the Saudi Geological Survey, represented by the Survey and Mineral Exploration Centre, said that the discoveries of gold ore were within the boundaries of Aba Al-Raha, the shield ...

  Bloomberg Oil edged higher in uneven trading, remaining within a narrow price band as traders weighed a souring US economic outlook against risks of supply disruptions from Russia. West Texas Intermediate futures traded near $86 a barrel, struggling to hold onto gains while under pressure from equity markets. Equities slid as Fedex Corp. withdrew an earnings forecast, in what ...

  NEW DELHI / WAM India has signed a Memorandum of Understanding (MoU) with the Gulf Cooperation Council (GCC) Secretariat on the “mechanism of consultations” between the two sides. The MoU was signed between India’s Minister for External Affairs Dr S Jaishankar, and the GCC Secretary-General Dr Nayef Falah Mubarak Al-Hajraf. India’s Ministry of External Affairs said, “both sides reviewed ...

  South Korea / WAM South Korea wants to strengthen its relations with the Middle East with a focus on high-tech industries, according to Seoul’s top diplomat. “In the Middle East, we hope to deepen cooperation in high-tech industries,” said Park Jin, Foreign Minister of the Republic of Korea, while hosting a dinner for invited guests, during Jeju Forum for ...

  DUBAI / WAM Emirates Institute for Banking and Financial Studies (EIBFS), a regional leader in banking and finance education and training, has received an impressive satisfaction rating of 93 percent in the Customer Satisfaction Survey (CSS), during the first half of 2022. All programmes and courses received a high rating in the customer satisfaction survey, conducted by Ipsos, in ...