News

  Bloomberg A Mexican truck blockade at a key Texas bridge is diverting US-bound cargoes to far-flung crossings, worsening shipping snarls and raising the specter of delivery disruptions for everything from avocados to auto parts. Truckers on the Mexican side of the Pharr-Reynosa International Bridge are protesting Texas Governor Greg Abbott’s stepped-up inspection effort. With commercial traffic at a total ...

  Bloomberg UK inflation surged to a 30-year-high of 7% last month, intensifying a cost of living crisis that threatens to derail the economic recovery. Consumer prices rise by 1.1% in March alone, the fastest increase on record for that month. It adds to pressure on the government and Bank of England to act, with prices set to surge further ...

  Bloomberg GlaxoSmithKline Plc agreed to buy biotech company Sierra Oncology for $1.9 billion as the UK drugmaker moves to strengthen its stable of medicines to fight cancer and prepares to spin off its consumer-health unit. The pharmaceutical giant will pay $55 per share in cash for California-based Sierra, a maker of targeted therapies for rare forms of cancer, GSK ...

  Bloomberg France’s economy is slowing more than previously expected as industry suffers from soaring energy costs and worsening supply constraints following Russia’s invasion of Ukraine, according to a monthly report by the central bank.

  Bloomberg Deutsche Telekom AG paid $2.4 billion to SoftBank Group Corp. to increase its stake in T-Mobile US Inc., taking it closer to its goal of holding a majority of the US division. The Bonn-based telecommunications company now holds 48.4% of the company after buying 21.2 million shares at an average price of $113 per T-Mobile share.

New York / WAM The United Arab Emirates has called for continued commitment from the United Nations Security Council to close the stark Covid-19 vaccination gap around the world. Sarah bint Yousif Al Amiri, Minister of State for Advanced Technology, delivered the UAE’s statement at a council meeting on the implementation of two resolutions that call for international cooperation and ...

  ABU DHABI / WAM The United Arab Emirates expressed its sincere condolences and solidarity with the brotherly Republic of Philippines over the victims of landslides and floods caused by the tropical storm that hit several areas of the Philippines this year, killing and injuring dozens. In a statement on Tuesday, the Ministry of Foreign Affairs and International Cooperation (MoFAIC) ...

  Dubai / WAM Dubai Electricity and Water Authority (Dewa) started trading on the Dubai Financial Market (DFM) on Tuesday under the ticker symbol “Dewa”. After pricing its shares last week at AED2.48 per share, Dewa opened the day’s trading as the largest company on the DFM, with a market capitalisation of AED124 billion ($33.8 billion). Dewa sold 9 billion ...

  Abu Dhabi / WAM The Abu Dhabi Chamber of Commerce and Industry (ADCCI) and the Embassy of Rwanda in Abu Dhabi have discussed trade cooperation and economic partnerships between businesses in both countries. This came during the visit of the ambassador of Rwanda to UAE, Emmanuel Hategeka and the accompanying delegation to the chamber, where they were received by ...

Abu Dhabi / WAM Dr Abdulrahman bin Abdullah Al Hamidy, Director-General and Chairman of the Board of Executive Directors of the Arab Monetary Fund (AMF), has said that the Buna Payment Platform is the first Arab regional payment system that complies with universal standards. The platform allows payments in six currencies, including in four Arab currencies, the Emirati dirham (AED), ...