News

Bloomberg Applications for US state unemployment insurance unexpectedly rose last week to the highest level since January, led by increased filings in Kentucky and California. Initial unemployment claims increased by 21,000 to 218,000 in the week ended May 14, Labour Department data shows. The median estimate in a Bloomberg survey of economists called for 200,000 initial applications. Continuing claims for ...

  Bloomberg Tesla Inc plans to keep employees at its Shanghai factory working in a so-called closed loop system — where staff are ferried to and from work and tested for Covid-19 regularly — until mid-June, people familiar with the matter said, even as Chinese authorities move to ease wider lockdown restrictions in the city. Thousands of the electric car ...

  Bloomberg Prime Minister Justin Trudeau’s government joined Canada’s closest intelligence allies in banning Huawei Technologies Co. from the fifth-generation wireless networks. The Chinese state-championed telecommunications firm poses a threat to Canada’s national security, Industry Minister Francois-Philippe Champagne said, confirming an earlier Bloomberg News report. ZTE Corp. equipment will also be prohibited. Firms that already have Huawei or ZTE gear ...

  Bloomberg Getty Images Inc has signed a multiyear deal with Candy Digital, the digital collectibles firm owned by Fanatics Inc, as the provider of news and stock photos breaks into the non-fungible-token business ahead of its plans to go public. As part of the agreement, the pair will develop a range of NFT products from Getty’s sizable library and ...

  Bloomberg The flight of millions of Ukrainians from Russia’s invasion has raised financial costs for the countries on the European Union’s eastern border that are taking them in, but the case of Poland shows that providing shelter can also bring economic benefits. The EU’s largest eastern economy expanded at the faster pace than Hungary and Romania, its other two ...

  Abu Dhabi / WAM The Federal National Council (FNC) confirmed trust in His Highness Sheikh Mohamed bin Zayed Al Nahyan, as president of the UAE to ensure a bright future for the nation. This statement was made by FNC on the occasion of the election of President His Highness Sheikh Mohamed, which was given by Saqr Ghobash Speaker of ...

MUMBAI / WAM Mumbai hosted the CII India UAE Economic Partnership Summit after the signing of the Comprehensive Economic Partnership Agreement (CEPA) between the two countries that came into force on May 1. The event was attended by over 200 public and private sector representatives, investors, representatives of small and medium-sized enterprises (SMEs) and entrepreneurs. The economic summit crowns the ...

  Abu Dhabi / WAM The UAE has become Germany’s most important trading partner in the Middle East, said Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, adding that the non-oil trade between the two countries amounted to $9.5 billion during 2021, a 10.5% increase compared to 2020. He said this while addressing an event in ...

  Abu Dhabi / WAM The Ministry of Economy (MoE) and the International Cooperative Alliance (ICA), the largest global cooperative organisation, signed a memorandum of understanding (MoU) to develop the structure of the UAE’s project aimed at strengthening the national cooperative sector. The partnership forms part of the ministry’s strategy to improve the performance of the country’s cooperative sector and ...

  Abu Dhabi / WAM Etihad Credit Insurance, the UAE Federal export credit company, has signed a memorandum of understanding (MoU) with Turkey’s export credit agency — Turk Eximbank to enhance trade and support business relations between the UAE and Turkey. The two export credit agencies will work together to facilitate trade and export and ease access to credit insurance ...