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Bloomberg Oil rallied as a global squeeze on refined products continued to pull fuel prices higher. West Texas Intermediate rose 1.6% to trade near $112 on Monday as US gasoline futures topped $4 a gallon for the first time ever. Rising futures tend to trickle through to the pump quickly, signaling more pain for drivers when the summer driving season ...

  Bloomberg Britain’s departure from the European Union may make the economy more sensitive to inflation, a Bank of England rate setter said. “Brexit has reduced the UK’s potential output,” said Michael Saunders, one of the nine members of the Monetary Policy Committee. “It may also have increased the extent to which, if there is excess demand in the economy, ...

Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan continues to accept condolences from heads of state, government leaders, and delegates from nations around the world over the death of late Sheikh Khalifa bin Zayed Al Nahyan. His Highness Sheikh Mohamed bin Zayed Al Nahyan received condolences, at Mushrif Palace in Abu Dhabi, from His Royal ...

Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan continues to accept condolences from heads of state, government leaders, and delegates from nations around the world over the death of Sheikh Khalifa bin Zayed Al Nahyan. His Highness Sheikh Mohamed bin Zayed Al Nahyan received condolences, at Mushref Palace in Abu Dhabi, from His Royal Highness ...

  Bloomberg Goldman Sachs Senior Chairman Lloyd Blankfein urged companies and consumers to gird for a US recession, saying it’s a “very, very high risk.” “If I were running a big company, I would be very prepared for it,” Blankfein said on CBS’s “Face the Nation.” “If I was a consumer, I’d be prepared for it.” A recession is “not ...

Bloomberg The Dutch government is working on a plan to introduce a maximum salary threshold for expatriates who want to take advantage of a tax break, according to two people familiar with the matter. The government is planning to allow only individuals earning less than 216,000 euros ($224,000) a year to apply for a benefit that exempts 30% of an ...

  Bloomberg Surging inflation will pile £2,370 ($2,900) on to the bills of the average UK household this year, according to a new study, raising fresh pressure on the Bank of England (BOE) and government to step up their response to the cost of living crunch. With wages falling behind price gains and the government raising taxes, the report from ...

  Bloomberg Norway’s economy contracted as expected at the beginning of the year, while a rebound after removal of virus-related measures bolstered the outlook for quarterly interest rate hikes by Norges Bank. Mainland gross domestic product, which adjusts for the nation’s offshore industry, shrank 0.6 percent in the first quarter from the previous three months, dented by the last pandemic ...

  Bloomberg Shares in Venezuela’s state-owned telecommunications company soared this week in Caracas as the government announced plans to offer stakes in public companies, boosting expectations for a revival in the local market. Cia. Anonima Nacional Telefonos de Venezuela SA, or CANTV, surged 41% in two days, according to Caracas Stock Exchange data, after President Nicolas Maduro said his government ...

Abu Dhabi / WAM Since its founding in 1971, the Abu Dhabi Fund for Development (ADFD) has received special attention from the late Sheikh Khalifa bin Zayed Al Nahyan, who carried the legacy of the Founding Father, the late Sheikh Zayed, in promoting the UAE globally as a unique model of tolerance and giving. His unlimited support had a considerable ...