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Bloomberg German Economy Minister Peter Altmaier poured cold water on a French proposal to give the European Union a lasting tool to raise common debt. France intends to push for a permanent mechanism on joint EU debt issuance to drive investment in innovation that member countries can’t finance on their own, according to Finance Minister Bruno Le Maire. The comments ...

Bloomberg Brookfield Asset Management Inc. has kicked off the sale of PD Ports, a deal that could value one of the UK’s oldest port operators at more than $2.8 billion, according to people familiar with the matter. The Canadian investment firm is working with advisers and has reached out to potential bidders. Brookfield expects to close a sale of PD ...

Bloomberg Young people in the UK are emerging from the coronavirus crisis blighted by poor mental health and worried about their financial future, reports published on Monday warned. The separate analyses, by the Institute for Fiscal Studies and the Resolution Foundation, underscore the huge challenges facing millions in their late teens and early 20s as the country returns to normality ...

Bloomberg Mortgage rates in the US fall, dipping back below 3%. The average for a 30-year loan was 2.98%, down from 3.02% last week, Freddie Mac said in a statement. Borrowing costs, which hit a record low of 2.65% in January, have seesawed within a few basis points of 3% since mid-April. Investors are anticipating Friday’s release of the June ...

Bloomberg European companies are pushing up prices as supply disruptions lift costs and hamper their ability to match surging demand, according to executives gathered for a conference this weekend in southern France. The bosses of industrial firms, including tire company Michelin and construction materials producer Saint-Gobain, say they’re facing scarce supplies, transport bottlenecks and staff shortages in the wake of ...

ABU DHABI / WAM The World Health Organisation’s EMRO Regional Subcommittee on Polio Eradication and Outbreaks commended the unwavering support of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, in working to eradicate polio and the funding he provides for this work. The committee also praised ...

Abu Dhabi / WAM The Ministry of Energy and Infrastructure has affirmed that the UAE is a longstanding and committed member of Opec, and Opec+, and have been a reliable partner in the current Opec+ agreement, delivering compliance of 103% throughout its 2-year term. In a statement on Sunday, the ministry said that the “UAE believes that the market needs ...

Abu Dhabi / WAM The United Arab Emirates leads the world, with enough vaccinations to cover 72.1% of its population and has overtaken Seychelles to become the world’s most vaccinated nation, according to Bloomberg’s Vaccine Tracker. The UAE has so far administered 15.5 million doses, enough to cover 72.1 percent of its population based on a two-dose regimen. The UAE ...

ABU DHABI / WAM Aldar Properties signed a AED300 million facility with HSBC that links the interest margin payable under the facility to achievement of sustainability targets. The agreement sees Aldar become the first real estate company in the Middle East and North Africa (Mena) region to enter into this type of financing. The innovative five-year term sustainability-linked loan includes ...

Abu Dhabi / WAM Air Arabia Abu Dhabi, the capital’s first low-cost carrier, has expanded its international route network with a new service to Baku, Azerbaijan, with flights starting July 15. Customers can now book their direct flights between Abu Dhabi and Baku by visiting Air Arabia’s website, by calling the call centre or through travel agencies. Since Covid-19 outbreak, ...