News

Bloomberg New car registrations in the UK rise in November for the first time after four consecutive months of declines, driven by a demand for electrified vehicles. Sales increased 1% in November from a year earlier, according to preliminary data from the Society of Motor Manufacturers and Traders (SMMT). That’s still 31% below the pre-pandemic five-year average, the SMMT said. ...

Bloomberg The number of container ships headed for the busiest US port complex has risen to close to 100 under a new counting method, underscoring the magnitude of the economy-restraining logjam that the Biden administration is trying to help alleviate. The backup outside the adjacent ports of Los Angeles and Long Beach, California, involves 96 container carriers, up from 86 ...

Bloomberg Denmark’s government plans to reduce fiscal stimulus next year, citing an “incredible” shape of the Nordic economy in a budget deal agreed by the ruling Social Democrats and their supporting bloc in parliament. Measures including a tax cut for home improvement services would have a limiting effect on the gross domestic product of 0.1%, the finance ministry said in ...

Bloomberg Uber Technologies Inc and its London rivals will have to overhaul their business models in the city after losing a bid to challenge part of a landmark ruling which led its drivers to be re-classified as workers. UK judges ruled that the tech firm should enter into a direct contract with passengers when providing car journeys and therefore assume ...

Bloomberg Oil rises after Saudi Arabia boosted the prices of its crude, signalling confidence in the demand outlook despite the spread of the omicron variant of the coronavirus. Futures in New York advanced 2.9% to trade near $68 a barrel. The kingdom increased its oil prices for customers in Asia and the US for January, just days after the Opec+ ...

Dubai / WAM The UAE accounted for 74 percent of GCC investments in Asean markets over the last five years, according to a new whitepaper released by Dubai Chamber ahead of the first-ever Global Business Forum (GBF) Asean in Dubai. Conducted by the Economist Intelligence Unit and commissioned by Dubai Chamber, the report, titled ‘Uncharted Territory: Deepening trade and investment ...

ABU DHABI / WAM The UAE has strongly condemned the Houthi terrorist militias’ attempts to target civilians and civil sites in Saudi Arabia’s southern region with explosive-laden drones, which were intercepted and destroyed by the Coalition Forces. In a statement released by the Ministry of Foreign Affairs and International Cooperation (MoFAIC), the UAE said recurrent terrorist attacks by the Houthi ...

Abu Dhabi / WAM Hub71, Abu Dhabi’s global tech ecosystem, has signed a new partnership with Sber, Russia’s largest commercial bank, providing services to more than 100 million customers and approximately 1 million enterprises and one of the largest digital ecosystem uniting over 60 companies in various industries. Technology companies, startups, ventures and investors in the UAE and Russia will ...

DUBAI / WAM Expo 2020 Dubai has seen a staggering 5,663,960 visits until December 5, since it first opened on October 1, with recent figures buoyed by the UAE’s Golden Jubilee festivities and a raft of spectacular sport, music and cultural performances. During October and November, a total of 5,383 government leaders, including presidents, heads of state, prime ministers and ...

Dubai / WAM DMCC, the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise, signed an MoU with the Polish Investment and Trade Agency (PAIH), an agency that aims to support both the foreign expansion of Polish business and the inflow of Foreign Direct Investment (FDI) into Poland. The signing ceremony took place at the ...