News

  Dubai / WAM Around 76.5% companies registered growth in their businesses during Expo 2020, while 73.5% managed to build new business relations during the world’s greatest show, according to a report commissioned by Dubai Chamber of Commerce. In terms of services provided by Dubai Chamber during the event, 70.6% of respondents to the survey conducted as part of the ...

  Bloomberg The US added close to half a million jobs in March and the unemployment rate fell by more than expected, highlighting a robust labour market that’s likely to support aggressive Federal Reserve tightening in the coming months. Nonfarm payrolls increased 431,000 last month after an upwardly revised 750,000 gain in February, a Labour Department report showed. The unemployment ...

Bloomberg European regulators are asking Microsoft Corp. partners and rivals for information related to a complaint made against the software maker alleging anti-competitive behavior in the cloud-computing services market. The European Commission in March circulated a questionnaire, seen by Bloomberg News, focusing on how Microsoft licenses its products. The questions may lead to a formal inquiry, and follows an antitrust ...

  Bloomberg A record number of UK companies expect to increase wages as the war in Ukraine deepens the cost of living crisis, a survey showed. The Lloyds Bank Business Barometer found that a half intended to boost average pay by at least 2% in the next 12 months. A fifth of businesses that have annual turnover of more than ...

  Bloomberg Italian inflation surged to the highest in three decades as energy prices continued to rise following Russia’s invasion of Ukraine. Prices increased 7% in March from a year earlier, statistics office Istat said. That’s the fastest pace since 1991. Rising prices and the ongoing conflict are impacting the economy with Finance Minister Daniele Franco saying last week that ...

  Bloomberg Brazil posted record monthly exports and imports in March on the back of a surge in global commodity prices fuelled by the Russian invasion of the Ukraine. Exports rose almost 20% from the same month a year ago to $29.1 billion, a record for the data series that goes back to 1959, the Economy Ministry reported. Imports increased ...

  Abu Dhabi / WAM The United Arab Emirates has sent a fifth plane carrying 30 metric tonnes of medical and relief supplies to Ukraine. This comes as part of providing urgent relief support to impacted civilians in Ukraine, and is in response to international humanitarian appeal to support those who are displaced in Ukraine and the four million refugees ...

  Abu Dhabi / WAM Emirates Development Bank (EDB) has announced record growth over the past 12 months. The results, which were presented at the first EDB Board meeting of 2022, underline the success of the bank’s new strategy, which was launched in March 2021 to support UAE’s industrial development, accelerate the adoption of advanced technologies, and empower the growth ...

  ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has ordered the disbursement of AED340 million to recipients of social assistance across the country, on the occasion of the Holy Month of Ramadan. This amount will be disbursed in addition to the ...

  DUBAI / WAM Dubai Customs received a senior Kuwaiti delegation, headed by Abdulkarim Taqi, Director-General, Public Authority for Industry (PAI). Mansoor Al-Malik, Executive-Director for Policies and Legislation Division at Dubai Customs received the Kuwaiti delegation. The meeting was attended by a number of officials from Dubai Customs and Kuwaiti businessmen and traders. Al-Malik briefed the delegation on the latest ...