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Bloomberg The US faces a national security “crisis” due to its lack of semiconductor production, Commerce Secretary Gina Raimondo told senators in a hearing on President Joe Biden’s infrastructure plan. “It is not an exaggeration to say at the moment that we have a crisis in our supply chain,” Raimondo said Tuesday, calling the production deficiencies “a national security risk ...

Bloomberg Italy is aiming to open the country to tourists in mid-May, pledging a range of measures to protect visitors from the coronavirus as it scrambles to rescue a sector devastated by lockdowns and restrictions on movement. As part of the race to get the industry back on its feet, the Rome-based government will introduce so-called vaccine passports earlier than ...

Bloomberg Brazilian policy makers should have been more cautious when cutting interest rates last year and now need to stress they will raise them as needed to bring inflation to target, according to former central bank President Ilan Goldfajn. Rather than committing to a “partial adjustment” of monetary stimulus, the bank needs to show it’s ready to do whatever is ...

Bloomberg Prime Minster Boris Johnson’s government will set a goal to cut UK carbon pollution by 78% by 2035, deepening an already ambitious target as he seeks to spur global momentum in the fight against climate change and boost relations with US President Joe Biden. The government will adopt the target — a cut relative to 1990 levels — in ...

ABU DHABI / WAM The central bank of the UAE (CBUAE) has extended integral parts of its Targeted Economic Support Scheme (TESS) until mid-2022. Financial institutions will continue to be eligible to access the collateralised AED50 billion zero-cost liquidity facility up to June 30, 2022, to provide new loans and financing to individuals, small and medium-sized enterprises, and other private ...

DUBAI / WAM Dubai Aerospace Enterprise (DAE) on Tuesday announced that it had entered into an agreement to acquire 15 Boeing 737 Max 8 aircraft. The order is valued at approximately $1.8 billion at list prices. Firoz Tarapore, Chief Executive Officer of DAE, said, “We are delighted to deepen our already strong relationship with Boeing. Including this order, we own ...

ABU DHABI / WAM Abu Dhabi Islamic Bank (ADIB) has donated AED1 million to provide one million meals in the region’s largest food donation campaign ‘100 Million Meals.’ Launched on April 11, the ‘100 Million Meals’ campaign aims to provide food parcels for disadvantaged individuals and families across 30 countries in the Middle East, Asia, Africa, Europe and South America ...

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

Bloomberg Oil jumped above $64 a barrel, a year to the day after futures for the US benchmark collapsed below zero, with the world’s most important commodity extending a powerful rally on bets for better demand. West Texas Intermediate advanced 1.3%, adding to Monday’s modest climb as the dollar weakened, while production in Libya fell below 1 million barrels a ...

Dubai / WAM After the success of She Leads, Creative Zone and the Dubai Business Women Council launched the second phase of their integrated accelerator programme, She Leads 2.0. In the first phase of the accelerator, 100 women participated in the 12-week online learning programme that helped them achieve possible solutions to the many barriers women face when starting and ...