News

  Bloomberg Norway’s economy contracted as expected at the beginning of the year, while a rebound after removal of virus-related measures bolstered the outlook for quarterly interest rate hikes by Norges Bank. Mainland gross domestic product, which adjusts for the nation’s offshore industry, shrank 0.6 percent in the first quarter from the previous three months, dented by the last pandemic ...

  Bloomberg Shares in Venezuela’s state-owned telecommunications company soared this week in Caracas as the government announced plans to offer stakes in public companies, boosting expectations for a revival in the local market. Cia. Anonima Nacional Telefonos de Venezuela SA, or CANTV, surged 41% in two days, according to Caracas Stock Exchange data, after President Nicolas Maduro said his government ...

Abu Dhabi / WAM Since its founding in 1971, the Abu Dhabi Fund for Development (ADFD) has received special attention from the late Sheikh Khalifa bin Zayed Al Nahyan, who carried the legacy of the Founding Father, the late Sheikh Zayed, in promoting the UAE globally as a unique model of tolerance and giving. His unlimited support had a considerable ...

  Bloomberg Saudi Aramco posted its highest profit since its record stock-market listing, after oil prices surged in the wake of Russia’s invasion of Ukraine. Aramco, which last week surpassed Apple to become world’s most valuable company, followed Big Oil rivals such as Shell Plc and BP Plc in reporting bumper earnings for the first quarter. Like them, the Saudi ...

  Bloomberg The soaring dollar is propelling the global economy deeper into a synchronised slowdown by driving up borrowing costs and stoking financial-market volatility — and there’s little respite on the horizon. A closely watched gauge of the greenback rises 7% since January to a two-year high as the Federal Reserve embarks on an aggressive series of interest-rate increases to ...

  Abu Dhabi / WAM The UAE, on May 14 pledged allegiance to the UAE new president, His Highness Sheikh Mohamed bin Zayed Al Nahyan, as the leader of the nation’s march, amidst a deep belief in his ability to continue to forge ahead with the nation’s illustrious drive of glory, development and construction. President His Highness Sheikh Mohamed bin ...

Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan continued to accept the condolences of world leaders and heads of their delegations over the passing of the late Sheikh Khalifa bin Zayed Al Nahyan. His Highness Sheikh Mohamed accepted condolences in the UAE capital, Abu Dhabi, from President Mohamed Ould Cheikh El Ghazouani of Mauritania; Emmanuel ...

Bloomberg India’s move to restrict wheat exports is set to reverberate through global agricultural markets, exposing just how tight global supplies are after the war in Ukraine and threatening to drive up food prices even more. The government said in a notification it will suspend overseas sales to manage its food security. This drew criticism from the agriculture ministers of ...

Bloomberg India’s monsoon will arrive early this year, providing much-needed relief after a record-breaking heat wave damaged crops and threatened the health of millions of people across the region. The mercury surged as high as about 48 degrees Celsius (118 degrees Fahrenheit) in some parts this month, after the average temperature soared in March to the highest ever for the ...

  Bloomberg Singaporeans are flocking to apply for passports after travel restrictions eased, unlocking pent-up wanderlust after two years of Covid-19 restrictions. The number of passport applications has spiked to more than 7,000 a day, peaking at 14,000, according to the Immigration & Checkpoints Authority, which described the surge as “overwhelming.” That compares with about 2,000 a day before the ...