News

  Abu Dhabi / WAM Abu Dhabi Fund for Development (ADFD) and the Abu Dhabi Exports Office (Adex) signed two loan agreements with the Electricity and Water Authority in Bahrain to finance a water supply network project. Under the agreements, ADFD has committed to provide a loan of AED150.6 million, and Adex to provide a loan of AED187.32 million. The ...

  Abu Dhabi / WAM Dr Abdulrahman Al Awar, Minister of Human Resources and Emiratisation, has said that the historic address of President His Highness Sheikh Mohamed bin Zayed Al Nahyan to the nation reflects the UAE wise leadership’s vision for the future of the country and its community, as well as the outlook of the nation for the coming ...

Bloomberg The euro area’s rebound from the pandemic will be weaker than anticipated while inflation will be faster because of Russia’s war in Ukraine, according to draft projections by the European Commission. With surging prices crimping demand and the danger of winter energy shortages draining confidence, gross domestic product is likely to advance 2.6% this year and 1.4% in 2023 ...

  Bloomberg Denmark broke European Union (EU) rules by letting local dairy producers market and export a white, crumbly cheese as “Feta” outside the region, the EU’s top court said. The European Commission, backed by Greece and Cyprus, sued Denmark in 2019 for failing to prevent or stop the “direct breach” of the European Union protection the name enjoys. Greece ...

  Bloomberg Volkswagen AG and other car markers risk violating European Union rules — and face more consumer claims — after the bloc’s top court said the use of IT meant to protect car components from damage at certain temperatures could be illegal. In a dispute stemming from the aftermath of the diesel scandal that roiled the German car giant, ...

  Bloomberg The Bank of France said the economy grew by about 0.25% in the second quarter, despite record inflation, the knock-on effects of Russia’s invasion of Ukraine and growing uncertainty about the outlook for business. According to the central bank’s assessment, which is based on a monthly survey of 8,500 firms, industrial activity was stable and the services advanced ...

  Bloomberg Argentines face the prospect of 90% inflation by year end after the economy minister’s exit triggered overnight price rises and the central bank comes under pressure to let the peso depreciate more rapidly. That would be the fastest pace since hyperinflation three decades ago, and the highest rate in the world outside Venezuela and Sudan, according to forecasts ...

  Abu Dhabi / WAM His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Member of Abu Dhabi Executive Council and Chairman of Abu Dhabi Executive Office, has chaired a meeting of the Executive Committee of the Board of Directors (BoD) of Abu Dhabi National Oil Company (Adnoc). During the meeting, which was held at Adnoc’s headquarters in Abu ...

  Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has exchanged, during a telephone call, Eid Al Adha greetings with the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud of Saudi Arabia. The UAE President and King of Saudi Arabia exchanged their wishes for the two countries to flourish with continued ...

  Abu Dhabi / WAM The Abu Dhabi Health Services Company (Seha) has signed an agreement with Kahn-Sagol-Maccabi (KSM), the research and innovation centre of Israel’s Maccabi Healthcare Services, to promote joint medical research and technological innovation. The agreement – signed in Abu Dhabi – will also support the Emirate’s goal of building a genomic research registry to optimise clinical ...