News

Dubai / WAM Emirates Central Cooling Systems Corporation (Empower) has announced the signing of an agreement to provide district cooling services to Meydan master community with a total capacity of 382,000 refrigeration tonnes (RT) to meet the needs of the 750 existing and upcoming buildings in the City and acquire the existing district cooling plant for a value of AED100 ...

Bloomberg The engine of the German economy is turning into a brake in the face of a global supply crunch, threatening to derail the nation’s recovery. While its strong focus on manufacturing helped Europe’s largest economy fare better than its more service-heavy peers in the region during Covid-19 lockdowns, Germany’s rebound is now at risk as companies report shortages of ...

Bloomberg British companies are expecting to raise prices and boost wages amid the strongest business confidence in more than four years, according to a survey published on Tuesday. More than a third of firms anticipate increasing wages by at least 2%, reflecting labour shortages, and almost half plan price hikes, the latest Lloyds Business Barometer shows. Overall confidence rebounded to ...

Bloomberg Denmark will raise its 2021 economic growth forecast to 3.8% from 2.4% seen in May as the Nordic nation recovers faster than expected from the pandemic, according to documents seen by Bloomberg. The government will lower its 2022 gross domestic product growth estimate to 2.8% from 3.6% to reflect improved outlook in the 2021 base year, according to the ...

Bloomberg US consumer sentiment remained weak in late August amid ongoing concerns over inflation and the coronavirus pandemic. The University of Michigan’s final sentiment index falls to a near-decade low of 70.3 during the month from 81.2 in July, data showed. The figure was in line with the preliminary reading and just below the median estimate of 70.8 in a ...

Bloomberg Polish inflation surged to its highest level in two decades, piling pressure on policy makers to ditch their dovish stance and increase interest rates in the coming months. Consumer prices rise 5.4% from a year earlier in August, after a 5% increase in July, according to data. That exceeded the 5.1% median estimate in a Bloomberg survey. The Monetary ...

Bloomberg Euro-area inflation jumped to the highest in a decade in August, testing policy makers’ insistence that a post-crisis spike in cost pressures should prove temporary. Consumer prices rise 3%, exceeding the predictions of all 37 economists in a Bloomberg survey. A measure of core inflation that strips out volatile items such as energy and food reached 1.6%, the highest ...

ABU DHABI / WAM Zaki Nusseibeh, Cultural Advisor to the UAE President and Member of the Board of Trustees of the Anwar Gargash Diplomatic Academy (AGDA) offered his greetings to the new cohort of Emirati students and future diplomats during the Academy’s orientation on Monday. The UAE’s leading diplomatic centre welcomed more than 60 students to its three programmes which ...

ABU DHABI / WAM President HH Sheikh Khalifa bin Zayed Al Nahyan has conferred the Medal of Independence of the First Order on Boukary Sidibe, Ambassador of Mali to the UAE, on the occasion of the end of his tenure in the country. Sheikh Shakhbout bin Nahyan bin Mubarak Al Nahyan, Minister of State, presented Ambassador Al Sidibe with the ...

NEW DELHI / WAM India’s discussions for concluding a Free Trade Agreement (FTA) with the GCC are “progressing fast”, the Minister for Commerce, Industry and Consumer Affairs, Piyush Goyal, said. Addressing a large cross-section of India’s business through the platform of the Jain International Trade Organisation, Goyal specifically cited the UAE as among the countries with which his Ministry is ...