News

  Bloomberg US productivity surged last quarter by the most in more than a year, reflecting a sharp acceleration in economic output, while labour costs growth cooled. Fourth-quarter nonfarm business employee output per hour increased at a 6.6% annual rate from the previous three months, the largest advance since the second quarter of 2020, according to Labour Department figures. In ...

  Bloomberg German factory orders increased more than anticipated in December, a bright spot for Europe’s largest economy as the pandemic threatens to tip it into another recession. Demand increased 2.8% after rising a revised 3.6% in the previous month, a stronger reading than even the highest estimate in a Bloomberg survey of 27 economists. Domestic demand was a key ...

  Bloomberg Spain’s government will suspend the obligation to wear the face masks outdoors as soon as next week, Cadena Ser reported. The order, which was reintroduced last December to stem the Omicron variant, will take effect by next Wednesday, the radio station said, citing people in the government it didn’t identify. The news comes as the latest coronavirus wave ...

  Bloomberg New York Times Co. set a new goal of attracting 15 million subscribers by the end of 2027, aiming to double its current customer base as it signs up more paying readers and snaps up other digital media properties. In 2019, the Times set a goal of 10 million subscriptions by 2025. Unlike that target, the new goal ...

  Bloomberg UK car sales rebounded the most in seven months in January thanks to surging demand for battery-powered vehicles. New-car registrations rose 28% last month, according to data from the Society of Motor Manufacturers and Traders. One in five buyers opted for a car with a battery, with shipments of fully electric vehicles more than doubling and plug-in hybrids ...

  Bloomberg Mark Zuckerberg quipped that if he started to cry, it wasn’t because of the day’s news. His red, teary eyes were the result of a scratched cornea, the Facebook founder said, attempting to lighten the mood as Meta Platforms Inc.’s stock price lost more than a quarter of its value. At a company-wide virtual meeting, Zuckerberg explained that ...

  Abu Dhabi / WAM The Abu Dhabi National Oil Company (Adnoc) announced on Thursday the discovery of natural gas resources offshore of the Emirate of Abu Dhabi. Interim results from the first exploration well in Abu Dhabi’s Offshore Block 2 Exploration Concession operated by Eni,indicate between 1.5 – 2 trillion standard cubic feet (TSCF) of raw gas in place. ...

Dubai / WAM The Mohammed Bin Rashid Space Centre (MBRSC) on Thursday announced that it is all set to host the 17th International Conference on Space Operations (SpaceOps 2023), one of the world’s leading and premier space events at the World Trade Centre in Dubai, UAE. The event, being held for the first time ever in the Arab world, is ...

  ABU DHABI / WAM Aldar Properties (Aldar) announced plans to invest AED1 billion into Aldar Education, its wholly owned subsidiary, and the largest premium school operator in Abu Dhabi. With 80 percent of the investment already committed and planned for deployment over the next three years, Aldar will diversify its education portfolio and expand its offering to widen the ...

  ABU DHABI / WAM Abu Dhabi Convention and Exhibition Bureau (Adceb) has announced a new partnership with Miral, Abu Dhabi’s leading curator of magnetic experiences, to strengthen the emirate’s position as a leading destination for Meetings, Incentives, Conferences and Exhibitions (Mice), specifically targeting business events with more than 500 attendees. The partnership has resulted in the creation of the ...