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  Abu Dhabi / Gulf Time HE Massimo Baggi, the honourable Swiss ambassador to the UAE, was the guest of honour at the opening ceremony of the Swiss watchmaker’s first exclusive mono-brand store in Abu Dhabi. Yousef Al Khoori, CEO of Mohammed Rasool Khoory & Sons, received the honourable ambassador in the presence of Roland Enderli, Sales Director of Tudor ...

Bloomberg President Emmanuel Macron aims to reform France’s pension system by the summer of 2023, he told French news outlets in his first extended interview since his re-election in April. The reform, which initially aimed to lift the retirement age from 62 to 65, is essential to financing Emmanuel Macron’s larger ambitions for his second five-year term. He discussed those ...

  Bloomberg UK economic growth is grinding to a halt as the cost of the living crisis escalates, a leading business lobby warned. The British Chambers of Commerce (BCC) predicted output will be barely higher in the fourth quarter than it was at the end of 2021, with consumers and businesses set to rein in spending as taxes climb and ...

  Bloomberg Nearly half of all Germans can no longer afford their lifestyle as inflation surges from one record to the next, according to a poll conducted for public broadcaster ARD. About 47% indicated they’re strongly or very strongly cutting back on spending. In low-income households, that share rises to more than three-quarters. The survey was conducted among 1,337 Germans ...

  Bloomberg New York City’s requirement that 2- to 4-year-old wear masks in schools and day care centers is coming to an end next week, Mayor Eric Adams said on Thursday. Starting Monday, June 13, masks will be optional for children under age 5 in all early childhood settings, Adams said in a statement. “I have always said that the ...

  Bloomberg Italian Premier Mario Draghi said surging inflation in Europe doesn’t reflect excess demand, and there’s still spare capacity to be found in the region’s economy. The former European Central Bank president spoke out on the day that officials led by his successor, Christine Lagarde, are set to stop bond purchases and firm up plans for interest-rate increases to ...

  Bloomberg Hungarian Prime Minister Viktor Orban used his emergency powers to publish decrees on a sweeping set of windfall taxes and to order about $6.1 billion in spending cuts for this year and next. The measures, which will hit industries from banking to energy and airlines to telecommunications, underscore the extent of the budget imbalance that has spooked investors ...

  ABU DHABI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, affirmed that the UAE begins a new era of prosperity and growth, under the leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan. HH Sheikh Mohammed added that the vision of the UAE ...

  Bloomberg Oil extended gains from the highest close in three months as the US summer driving season ramps up and China emerges from virus lockdowns. West Texas Intermediate futures rise above $120 a barrel, trading near a three-month high. Inventories at the nation’s biggest storage hub at Cushing, Oklahoma, falls 1.59 million barrels last week, according to an Energy ...

  Abu Dhabi / WAM The Ministry of Human Resources and Emiratisation announced the start of mid-day break for labourers at project, construction sites from 12:30 until 15:00 from June 15 to September 15. An administrative fine will be imposed on establishments that violate midday break amounting to AED5,000 for each worker and a maximum of AED50,000 in case multiple ...