News

  Dubai / WAM Abu Dhabi Fund for Development (ADFD) has signed a memorandum of uunderstanding (MoU) with the African Development Bank (AfDB), aimed at strengthening cooperation over investment in strategic sectors in Africa that would sustainably drive socioeconomic development in the continent, while also achieving the UAE’s development- financing goals for developing countries. The MoU was signed by Mohamed ...

  Abu Dhabi / WAM Mohamed Helal Al Mheiri, Director-General of Abu Dhabi Chamber, said that bilateral relations between the UAE and Singapore have witnessed remarkable growth thanks to the committed support of both countries’ leadership. The remarks were made during a visit of a high-level delegation from Singapore chaired by Dr Brian Shegar, President of the UAE Singapore Business ...

  DUBAI / Gulf Time M Glory Group laid the foundation stone for the United Arab Emirate’s first industrial facility to manufacture electric vehicles (EV) at Dubai Industrial City, one of the largest industrial hubs in the region, and worth an investment of AED1.5 billion. The factory’s official opening was presided over by Omar Suwaina Al Suwaidi, Undersecretary at MoIAT, ...

  SHARJAH / WAM Sharjah Airport won the ‘Best Airport in the Middle East’ award in the 5 to 15 million passenger per year category and the ‘Voice of the Customer’ accreditation given by the Airports Council International (ACI). It bagged the accolade at ACI World’s Airport Service Quality (ASQ) Awards 2021, an event sponsored by Amadeus, a leading global ...

  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 ...