News

  Bloomberg Investor confidence in Germany’s economy slumped to the lowest since 2011 as the country faces the growing prospect of a recession and risks mount that it’s shut off from Russian energy supplies. Snapping two months of gains, the ZEW institute’s gauge of expectations falls to -53.8 in July from -28 in the previous month, missing economists’ estimates. An ...

  Bloomberg The number of UK households facing acute financial strain has risen by almost 60% since October and is now higher than at any point during the coronavirus pandemic, a survey found. The abrdn Financial Fairness Trust and researchers at the University of Bristol estimated that 16 percent of households, or 4.4 million, are in “serious financial difficulties” and ...

  Bloomberg Germany’s Robert Bosch GmbH is making a bigger bet on semiconductors with plans to spend 3 billion euros ($3 billion) to help ease a worldwide shortage of computer chips that has crimped vehicle production. The auto-parts supplier said on Wednesday it will make the investment by 2026 as part of European Union and German government efforts to double ...

  Bloomberg A global squeeze on energy supply that’s triggered crippling shortages and sent power and fuel prices surging may get worse, according to the head of the International Energy Agency (IEA). “The world has never witnessed such a major energy crisis in terms of its depth and its complexity,” IEA Executive Director Fatih Birol said on Tuesday at a ...

  Abu Dhabi / WAM This year, the Emirates Red Crescent (ERC) launched its sacrificial meat campaign in 57 countries, benefitting 1,484,432 people. Since the first day of Eid Al Adha, the ERC has distributed sacrificial meat through its foreign offices and the UAE’s embassies in a number of countries, in cooperation with the charity and humanitarian organisations. This year, ...

  Dubai / WAM Dubai Electricity and Water Authority (Dewa)’s construction of 3 million imperial gallons per day (MIGD) Water Microfiltration Units in Hatta is 57% complete. The project will be completed by the end of this year. These units refine and sterilise the water of Hatta dam to use it only in emergencies. The units will be used in ...

  Abu Dhabi / WAM AD Ports group and Hayat Biotech signed a memorandum of understanding to support Hayat Biotech’s global logistics and distribution efforts through AD Ports group’s advanced pharma logistics network, which includes its cold & ultra-cold pharma hub based in Kizad. Specifically, the partnership will help facilitate Hayat Biotech’s efforts to set up manufacturing centres around the ...

  Abu Dhabi / WAM Emirates Health Services (EHS) signed a memorandum of understanding (MoU) with Burjeel Hospital Abu Dhabi LLC and its Affiliates (BHAD & A), in an effort to boost the collaboration in research, skill development, and academics. The agreement aims to raise the level of medical care and research outcomes through partnerships that support education, training, and ...

Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan received the grade 12 top male and female students for academic year 2021 – 2022, their parents and a number of educational leaders at Qasr Al Bahr on Tuesday. Congratulating the top achievers, President His Highness Sheikh Mohamed bin Zayed said:” I and my guest at this ...

  Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has issued a Federal Law Decree on the establishment and regulation of the Citizens and Community Affairs Office of the Presidential Court. Decree No. 2 for 2022 stipulates that the Citizens and Community Affairs Office, which will have its own legal personality and administrative and financial ...