News

  Dubai / WAM Saeed Mohammed Al Tayer, MD&CEO of Dubai Electricity and Water Authority (Dewa), announced that energy demand in Dubai during the first half of 2022 increased by 6.3% compared to the same period in 2021. Demand for energy in the first half of 2022 reached 23,096 GWh compared to 21,729 GWh in the first half of 2021. ...

  Dubai / WAM The Dubai International Financial Centre (DIFC) Courts on Tuesday released its figures for the first six months of 2022, reaffirming increased efficiency of process for businesses engaged with the region’s prime jurisdiction for dispute resolution. The volume of cases across all the divisions recorded a 10 percent increase in the first half of this year, compared ...

Bloomberg The few commuters who braved the heat of London’s Underground transport system had to endure temperatures deemed too hot to safely transport cattle, showing the brutal conditions sweeping through Europe and impacting everything from transport to food and energy production. Intense heat caused London’s Luton Airport to halt flights for runway repairs, while Wales set a new record and ...

  Bloomberg Canadian home prices saw their biggest monthly decline in at least 17 years as the impact of higher interest rates began to spread across the country. The benchmark price of a home falls 1.9% in June versus the previous month, according to data by the Canadian Real Estate Association. That’s the third straight month of falling prices, and ...

Bloomberg Volvo AB said a slowing global economy is not yet weighing on demand as the truckmaker reported better-than-expected profit for the second quarter. “We realise, like everyone else, that the macro-economic measures taken now by central banks must have an effect in order to reduce the inflationary pressures,” Volvo’s Chief Executive Officer Martin Lundstedt said in a phone interview ...

  Bloomberg Telecom Italia SpA will cut about 9,000 jobs by 2030, equating to around 20% of its Italian workforce, the company said as it presented its new business plan. The job cut total will include all planned and voluntary exits including retirements, a spokesman said, calling it part of the company’s push to create a leaner structure. Telecom Italia ...

Bloomberg Brazil’s heavy dependence on fertiliser imports is leading to a major upgrade of the nation’s ports, railways and distribution centers. Hundreds of millions of dollars are pouring into Brazil’s logistics infrastructure, all in order to more quickly get fertiliser from ports to inland farms thousands of miles away, which produce the most soybeans, coffee and sugar in the world. ...

  Abu Dhabi / WAM The ongoing growth in trade between the UAE and France underscores their strong economic partnership and deep-rooted relations, supported by their leadership. The visit of President His Highness Sheikh Mohamed bin Zayed Al Nahyan to France also confirms the strength of the comprehensive strategic partnership between the two friendly countries. From 2012 to 2021, the ...

  Dubai / WAM In line with the vision of Dubai’s leadership to make Dubai the global city with the best quality of life and further enhance its appeal as the world’s best city to visit, live, work, invest in, and study, Golden Visa holders in Dubai will be gifted the coveted Esaad privilege card. The card is issued by ...

  Dubai / WAM Dubai Financial Market (DFM) on Monday welcomed the listing of Union Coop’s shares, becoming the first cooperative society in the UAE to take this pioneering step, in line with the government’s decision pertaining to the trading of cooperative societies’ shares on financial markets, which aims to strengthen the regulatory environment for the cooperatives’ sector and reinforce ...