News

  Bloomberg The economic damage from the war in Ukraine is worsening across Europe as already-record inflation soars further and Germany faces a danger of recession because of its dependence on Russian energy. President Vladimir Putin’s invasion has sapped euro-area confidence and sent consumer-price expectations to their highest level since records began in 1985. In Spain, inflation surged by almost ...

  Bloomberg Argentina’s economy contracted in January as a surge in coronavirus cases due to the omicron variant weighed on industrial manufacturing. Economic activity in January falls 0.5% from the prior month, better than analysts’ median estimate for a 1% contraction. From a year ago, the economy expanded 5.4% in the first month of the year, according to government data. ...

  Bloomberg London beats Brighton and Oxford for the UK city with the highest overall employee satisfaction, according to a new survey. Belfast came in last. Glassdoor analysed over 300,000 employee reviews from across the country between January 2021 and February 2022, during height of pandemic. The capital won an average rating of 3.92, scoring high in career opportunities, culture ...

Bloomberg The European Union (EU) plans to ensure that products from handbags to laptops and mobile phones are more durable, in a bid to curb the environmental damage caused by their limited lifespans. Under the “Circular Economy Package” put forward by the European Commission on Wednesday, companies will have to show that the products they sell within the EU last ...

  Bloomberg US consumer confidence edged up in March, suggesting solid job growth offset Americans’ concerns over decades-high inflation that poses a risk to spending and growth. The Conference Board’s index increased to 107.2 from a downwardly revised 105.7 reading in February, which was the lowest in a year, according to the group’s report Tuesday. The median forecast in a ...

  Bloomberg Hurricane Ida and the freakish winter storm that froze Texas last February topped last year’s list of most damaging storms, according to the annual report on insurance industry losses caused by natural catastrophes put out by reinsurance giant Swiss Re. The report found that global economic losses from natural catastrophes such as floods, hurricanes and wildfires reached $270 ...

  Abu Dhabi / WAM Ahmed Al Kaabi, UAE Governor to the Organisation of Petroleum Exporting Countries (Opec), said the UAE is continuing to perform its key role in maintaining the stability of world oil markets. In his statement to the Emirates News Agency (WAM), Al Kaabi added the UAE is an active member of Opec, noting it assumed the ...

  Abu Dhabi / WAM Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, has partnered with AirCarbon Exchange (ACX) to create the world’s first fully regulated carbon trading exchange and carbon clearing house which will be established in Abu Dhabi, the capital of the UAE. Pursuant to its recently released consultation paper, ADGM is set to ...

  DUBAI / WAM Rumina Velshi, President and CEO of the Canadian Nuclear Safety Commission (CNSC), said the UAE Peaceful Nuclear Energy Programme is an inspiring global example. In her exclusive statement to WAM, Velshi said she visited the Barakah Nuclear Power Plant two years ago and witnessed the success story of the programme, which she described as an unprecedented ...

  Abu Dhabi / WAM The Abu Dhabi Securities Exchange (ADX) and FTSE Russell have partnered to develop the FTSE ADX 15 Index, a benchmark blue chip measure that will support ADX’s recently launched derivatives market and the creation of ETFs and other index-tracking investment vehicles. Also known as the FADX 15, the benchmark index will be launched on March ...