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Bloomberg European manufacturers are increasingly strained by global supply-chain problems that are pushing up prices and may last well into next year. A gauge by IHS Markit measuring business activity in manufacturing falls last month by the biggest margin since April 2020 — the beginning of the Covid-19 pandemic. Growth in new orders, output and employment slowed considerably. “Supply issues ...

Bloomberg Elon Musk plans for Tesla Inc.’s electric-car plant near Berlin to start producing vehicles as early as next month even as the US company still awaits final approval for the project that’s been delayed by legal challenges. The factory is to begin making Model Y cars in November or December, Musk said during a visit to the site in ...

Bloomberg Sweden’s economy shrinks far more than anticipated in August, driven by a slump in exports, raising concerns the recovery of the largest Nordic economy may be cut short. Gross domestic product contracted 3.8% in August, the biggest fall since the monthly indicator was launched in February, according to a flash estimate from Statistics Sweden. Economists surveyed by Bloomberg predicted ...

Bloomberg The UK is more vulnerable to financial shocks than most other nations, a Bank of England (BOE) study concluded, indicating that openness to trade and banking poses some risks. Britain has more foreign assets and liabilities than any other major economy and relies on trade for 60% of its gross domestic product (GDP), more than the average across other ...

Bloomberg US crude futures topped $80 a barrel for the first time since November 2014 as a global energy crisis boosts demand at a time when Opec+ producers are keeping supplies tight. Futures in New York rise 1.3%, popping above the key, psychological level before pulling back. This week brought many indications that supplies will remain constrained: Saudi Aramco said ...

ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Saturday discussed ways of fostering the friendship and cooperation ties between the UAE and Angola in a phone call with President Joao Lourenco. The two leaders also addressed the prospects of accelerating trade and ...

Bloomberg US Trade Representative Katherine Tai and Chinese Vice Premier Liu He met virtually to discuss trade issues between the US and China. They agreed “that the two sides would consult on certain outstanding issues,” according to a White House account of the meeting. “In addition, Ambassador Tai emphasized US concerns relating to China’s state-led, non-market policies and practices that ...

DUBAI / WAM Hessa Buhumaid, Minister of Community Development, revealed the ministry will apply new procedures to increase the licencing of Non-Benefit Public Associations, NGO’s and Social Solidarity Funds (Takaful). This is being done under the Federal Law No. 35 of 2020 concerning the ratification of some provisions of the associations and double the number of declared associations in the ...

DUBAI / WAM Nassar Habashneh, Ambassador of the Hashemite Kingdom of Jordan to the UAE, has commended the UAE’s efforts in organising and hosting Expo 2020 Dubai, which he described as a source of pride for all Arabs. In a statement at the inauguration of the Jordan pavilion at Expo 2020 Dubai, Habashneh said that the event has amazed the ...

Dubai / Emirates Business Throughout the six-month Expo 2020 Dubai, Emirates is unlocking even more offers for all its UAE citizens and residents. By simply showing their boarding pass, Emirates’ customers can enjoy complimentary access to the Dubai Frame, one of the city’s iconic attractions offering a panoramic view of old and new Dubai. In addition, the Emirates boarding pass ...