News

Bloomberg The UK government would have to pay £14 billion pounds ($17 billion) a year to give public-sector workers the 7 percent pay raise that some of them are demanding. The figures, from an analysis by Bloomberg Economics, shed light on the options Prime Minister Boris Johnson is facing to defuse the biggest round of strikes in decades. Rail workers ...

  Bloomberg California Governor Gavin Newsom announced that he had reached an agreement with state legislators on a $17 billion “inflation relief package.” “Millions of Californians will be receiving up to $1,050 as part of a new middle class tax rebate. That’s more money in your pocket to help you fill your gas tank and put food on the table,” ...

  Bloomberg Volkswagen AG is selling a 10% stake in Electrify America, the electric-car charging subsidiary it established in the wake of its diesel-emissions scandal, to Siemens AG, according to people familiar with the matter. The partners are also set to announce an investment of $450 million in the network, likely to be announced later Tuesday, they said, declining to ...

  Bloomberg Euro area consumer confidence approached its lowest level since the early months of the pandemic as soaring inflation weighs on purchasing power and households fret about the knock-on effects of Russia’s war in Ukraine. A monthly gauge from the European Commission showed a reading of -23.6 in June — down from -21.1 in May. and worse than the ...

ABU DHABI / WAM The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) and the Unesco on Monday launched the co-publication “Culture in Times of Covid-19: Resilience, Recovery and Revival”, giving a global overview of the impact of the pandemic on the culture sector since March 2020, and outlining directions for its revival. Examining the impact of ...

  Abu Dhabi / WAM “Emirates Wheat”, which was launched in 2017, is one of the leading initiatives in the agriculture sector and involves 170 farms, representing most of the national efforts to achieve food security by producing over 80 tonnes of wheat. The national initiative, headed by farmer Humaid Obaid Al Zaabi, aims to boost country’s wheat production, especially ...

  Abu Dhabi / WAM “W Solar” Investment, an investment company in the renewables energy industry and a subsidiary of Alpha Dhabi Holding, on Monday signed a memorandum of understanding with the General Electricity Company of Libya (GECOL) to develop a strategic long-term partnership in the renewable energy sector in Libya. Under this MoU, “W Solar” will invest in green ...

  Abu Dhabi / WAM Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and Chairman of Emirates Development Bank (EDB), said that the UAE had made quantum leap in its industrial development thanks to the support, directives and vision of its wise leadership. The country has managed to enhance its strategic industrial position, as it moves ...

  Abu Dhabi / WAM Chimera Capital, an Abu-Dhabi-based investment management firm and subsidiary of Chimera Investment, on Monday announced the launch of the Chimera S&P US Shariah Value Exchange Traded Fund and the Chimera S&P US Shariah Growth Exchange Traded Fund, both of which are physical, in-kind, liquid and fully fungible exchange-traded funds (ETFs). Both funds will be listed ...

  Dubai / WAM Dubai Electricity and Water Authority (Dewa) has announced the launch of an Automatic Smart Grid Restoration System (ASGR), the first of its kind in the Mena region, to increase the control, management, and monitoring of its power network. The system works around the clock without any human intervention. It uses a smart, innovative, and central system ...