News

  Abu Dhabi / WAM Masdar City and the Mohammed Bin Rashid Innovation Fund (MBRIF) on Monday announced a strategic partnership designed to cultivate entrepreneurship and economic development in the UAE and at an international level. The initiative will extend support to innovative SME’s, while also sharing industry knowledge and collaborating to develop the entrepreneurship ecosystem at home and abroad. ...

  ABU DHABI / WAM The Abu Dhabi Chamber of Commerce and Industry has signed a cooperation agreement with the Economic Development Board of Mauritius (EDB) to further deepen the economic and trade relations between Mauritius and the emirate of Abu Dhabi. The agreement also aims at serving the business environment as a world system for positive partnership, share experiences ...

  Abu Dhabi / WAM Mattar Salem Ali Al Dhaheri, Under-Secretary of the Ministry of Defence, said the 50th anniversary of Zayed II Military College coincides with the UAE’s golden jubilee, proving the country has been aware, since its establishment, of the importance of creating a strong army. In his speech on the occasion, he added the Founding Father, late ...

  Dubai / WAM dnata, a leading global air and travel services provider, announced a major, over €200 million ($224.07 million) investment in a fully automated cargo centre, dnata Cargo City Amsterdam, at Amsterdam Airport Schiphol (AMS). dnata Cargo City Amsterdam will significantly enhance cargo capacity in The Netherlands and create new, direct jobs with dnata. It will enable dnata ...

  Bloomberg American families are feeling the financial squeeze of soaring inflation and a persistent pandemic as fractious Democrats return to Washington this week no closer to a deal on a tax and spending bill party leaders hoped would by now provide relief. Despite gangbusters growth at a 6.9% annual rate during the final quarter of 2021, other economic measures ...

  Bloomberg Denmark’s unemployment rate plunged to the lowest level in 14 years, adding to concerns of overheating in the Nordic country that’s emerging from the coronavirus pandemic as one of economic winners. The gross rate declined to 2.5% in December from 2.8% a month before, falling for the first time to the level it was before the 2008 financial ...

  Bloomberg Bentley Motors Ltd. will build its first fully electric car in the UK, part of a 2.5-billion pound ($3.4 billion) spending push to overhaul manufacturing and ditch its roaring 12-cylinder combustion engines. The investment over the next decade will modernise Bentley’s factory in Crewe, England, the Volkswagen AG brand said. The decision is a boon to the site’s ...

  Bloomberg The euro-area economy grew modestly in the fourth quarter amid another wave of surging coronavirus infections and curbs on activity. Gross domestic product (GDP) rises 0.3%, slightly less than predicted, after a sharp contraction in output left Germany on the brink of recession. Meanwhile, a ramp-up in investment contributed to stronger-than-expected growth in France and Spain. Italy reported ...

  Bloomberg British workers will need pay rises of 8% on average this year to offset the living standards squeeze from higher energy bills, tax rises and broader inflation if the government does nothing to help. Analysis by the Tony Blair Institute for Global Change shows that the poorest fifth of UK workers will need a wage increase of more ...

  Dubai / WAM Dubai continued to maintain its leadership position among the world’s preferred destinations for foreign direct investment (FDI), attracting AED15.9 billion ($4.3 billion) of FDI capital inflow from 378 projects in the first nine months of 2021, a significant increase from the same period of 2020, according to data from the ‘Dubai FDI Monitor’ released by Dubai ...