News

  Bloomberg The unemployment rate fell in nearly every US state last month, including in eight states where it dropped to a record low. Nebraska, with a jobless rate of 1.8%, had the lowest in the country, followed closely by Utah at 2.1%, according to Labour Department data. Arkansas, Georgia, Montana, Oklahoma, West Virginia and Wisconsin also posted record lows. ...

  Bloomberg The low availability of nuclear plants in France is causing power prices to soar, crushing the competitiveness of the nation’s companies, according to the Uniden trade group that represents energy-intensive industries. Electricite de France SA this week announced new or extended outages at four of the nation’s 56 nuclear reactors during winter, when demand peaks. Available nuclear capacity ...

  Bloomberg Germany’s federal government plans to sell the second-highest amount of debt on record next year, as aggressive spending to offset the impact of coronavirus pandemic continues. Debt issuance will shrink to about 410 billion euros ($464 billion) in 2022, compared with a record of around 480 billion euros this year, according to the German finance agency’s issuance plan. ...

  Bloomberg Denmark now sees its economic growth matching the fastest pace in almost three decades, predicting an outbreak of the new virus variant won’t derail a boom in the Nordic nation. Gross domestic product will probably expand by 3.9% this year, up from a previous forecast of 3.8%, the finance ministry said in a statement. The forecast, that would ...

  Bloomberg Argentina is putting a ceiling on exports of corn and wheat in a fresh bid by the leftist government to quell food inflation at home. The government will first decide how much of the grains are needed in Argentina, and then proceed to stop exporters from registering shipments that’d jeopardise those domestic supplies, according to a resolution published ...

  Dubai / WAM The Islamic Affairs and Charitable Activities Department in Dubai (IACAD) has revealed that the value of social responsibility initiatives implemented by various sectors in the emirate surpassed AED3 billion in 2020, touching the lives of more than 98 million people. The results were announced in an annual report issued by the department’s charitable work sector, which ...

  ABU DHABI / WAM Abu Dhabi Ports Group (AD Ports Group), a leading facilitator of trade and logistics, has signed a Heads of Terms agreement with the Aqaba Development Corporation (ADC) that will see AD Ports Group take on the establishment of a state-of-the-art cruise terminal at Marsa Zayed in Aqaba. It will be the first facility to be ...

ABU DHABI / WAM The joint UAE-Bahraini nanosatellite Light-1 will be launched to the International Space Station on December 21. It represents a major milestone of cooperation in space science, technology and engineering between the UAE and Bahrain. The nanosatellite was built and designed in collaboration between UAE Space Agency and Bahrain’s National Space Science Agency (NSSA). It is a ...

  Dubai / Gulf Time Dubai economy is expected to see sustained economic growth in 2022 supported by an expected uptick in business activity in the tourism and retail sectors, according to new analysis from Dubai Chamber. The data insights, released during a business seminar titled The Road Ahead: UAE and Dubai Economic Outlook and Opportunities in Dubai Exports, pointed ...

  Abu Dhabi / Gulf Time Alpha Dhabi Holding PJSC (ADH), the Abu Dhabi-based conglomerate and ADX-listed company, has announced that it will be investing about AED 1 billion ($27 million) in the Abu Dhabi Chemicals Derivatives Company RSC Ltd, known as Ta’ziz. This step comes as part of Alpha Dhabi Holding’s expansion plans and future strategy announced last week ...