News

Bloomberg Peru’s economy rebounded in the second quarter, shrugging off political and financial volatility as it recovers from one of the world’s deepest slumps last year. Gross domestic product (GDP) grew 41.9% in the three months through June from the same period a year earlier, the national statistics institute said. The result was higher than the 41.5% median estimate of ...

Bloomberg German businesses are growing increasingly concerned that a global supply squeeze and rising infections will damp the economic recovery. A gauge by the Munich-based Ifo Institute falls to 99.4 in August from 100.7 in July, more than economists predicted in a Bloomberg survey. An index measuring expectations also falls, while current conditions were judged more favourably. Strong consumer spending ...

Bloomberg Pfizer Inc, maker of a top-selling Covid vaccine, will buy all the shares of Trillium Therapeutics Inc it doesn’t own, gaining the immune cancer drugmaker for an equity value of $2.26 billion. Pfizer will pay $18.50 a share for Cambridge, Massachusetts-based Trillium, the companies said in a statement. The price represents a 118% premium to the stock’s 60-day weighted ...

Bloomberg Britain’s construction, manufacturing and food preparation industries are pushing wages higher across the economy due to a shortage of workers to fill available jobs. Building companies increased advertised pay by 6.7% from February to July 2021 to draw more workers into the industry, according to data from jobs site Indeed. That compares with wage growth of just 0.8% across ...

ABU DHABI / WAM The value of foreign aid provided by the UAE from 2010 to 2021 totalled AED206.034 billion ($56.14 billion), further confirming its ongoing support of global efforts to achieve peace and prosperity and provide developmental, humanitarian and charitable aid to many developing countries. This data was published in a report by the Ministry of Foreign Affairs and ...

Bloomberg Oil prices gained for a second session, building on the biggest one-day gain in five months, amid glimmers of optimism among bulls that the Delta coronavirus variant’s hit to demand may be passing. Brent futures topped $70 a barrel, after falling below that level last week, when the market underwent its longest sell-off in years on concern about demand ...

ABU DHABI / WAM The UAE has strongly condemned the Iran-backed Houthi terrorist militias’ systematic attempts to attack civilians and civil objects in Khamis Mushait, Saudi Arabia with an explosive drone, which was intercepted by the Coalition Forces. In a statement by the Ministry of Foreign Affairs and International Cooperation (MoFAIC) on Tuesday, the UAE reiterated that these recurrent terror ...

DUBAI / WAM Mattar Mohammed Al Tayer, Director-General, Chairman of the Board of Executive Directors of the Roads and Transport Authority (RTA) received Hon. CHO, Eung Cheon, Vice-Chairman of Land Infrastructure and Transport Committee, Hon Lee Hun Seung, Vice-Chairman of Land Infrastructure and Transport Committee of the Republic of Korea. The visiting Korean officials were accompanied by Moon, Byung-Jun, Consul ...

ABU DHABI / WAM Adnoc Logistics & Services, the shipping and maritime logistics arm of the Abu Dhabi National Oil Company (Adnoc), on Tuesday announced the acquisition of six-line boats to provide critical marine services across petroleum ports in Abu Dhabi. All six vessels are the Damen Stan Tug 1606 type and were contracted directly from Sharjah-based Albwardy Damen, as ...

DUBAi / WAM Dubai Electricity and Water Authority (Dewa) has announced the completion of the Water Pumping Station project at the Mohammed bin Rashid Al Maktoum Solar Park at a cost of AED23.1 million. The station has a capacity of 7.5 million imperial gallons of water per day (MIGD). Saeed Mohammed Al Tayer, MD and CEO of Dewa, said that ...