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Bloomberg Europe’s economy is starting to follow the familiar script of lagging its international peers when recovering from a crisis. That was the upshot of the International Monetary Fund’s (IMF) forecasts, which downgraded the growth outlook for 2021 across Europe and underscored a generally poorer performance compared with China and the US. Such diverging fortunes reflect the stringency of lockdowns ...

Bloomberg Argentina posted its first trade deficit since August 2018 as exports collapsed after a lengthy strike in some port operations. The country recorded a trade deficit of $364 million in December, compared to a $500 million surplus forecast by economists in a Bloomberg survey, government data published Tuesday showed. While imports grew 25% in annual terms driven by an ...

Bloomberg Microsoft Corp. said fiscal second-quarter sales rise 17%, a faster clip than analysts projected, thanks to buoyant demand for corporate cloud-computing services and software tools that support at-home workers. Revenue in the period ended December 31 rise to $43.1 billion, the Redmond, Washington-based software maker said in a statement. That exceeded the $40.2 billion average estimate of analysts polled ...

Bloomberg UK Chancellor of the Exchequer Rishi Sunak will hold talks with his Swiss counterpart as the two countries seek to deepen financial services ties in the wake of Brexit. The virtual discussions with Federal Councilor Ueli Maurer will focus on the goal of “a comprehensive mutual recognition agreement” to cut costs and barriers for UK firms operating in Switzerland ...

Bloomberg The Czech Republic may raise interest rates as many as two times this year, central bank Governor Jiri Rusnok said, departing from the global trend of pursuing ultra-loose monetary policy against the coronavirus (Covid-19) crisis. Rusnok, speaking in an interview, said he sees economic growth picking up in the second half of the year, partly due to progress on ...

Bloomberg Chancellor Angela Merkel’s chief of staff proposed temporarily allowing expanded debt spending by Germany’s federal government, prompting a swift rejection from officials in his own party. Helge Braun, Merkel’s chancellery minister, wrote in Handelsblatt newspaper that the country’s so-called debt brake, which is enshrined in the constitution, should be altered to allow more borrowing to help offset the impact ...

Bloomberg Oil rose to trade near $53 a barrel in New York as concerns over the pandemic’s latest hit to demand were tempered by signs of tighter global supply. Futures in New York increased 0.4% after rising 1%. A flare-up of the coronavirus in China is threatening fuel demand during the Lunar New Year period, with the government encouraging millions ...

KIEV / WAM UAE Ambassador to Ukraine Salem Ahmed Al Kaabi and the Minister of Foreign Affairs of Ukraine, Kuleba Dmytro, have discussed ways to develop relations and enhance cooperation between the two countries across various fields of mutual interest. They also discussed efforts to confront the Covid-19 pandemic. Kuleba affirmed the interest of the Ukrainian President, Volodymyr Zelensky, to ...

ABU DHABI / WAM Adnoc maintained in 2021 its position as the UAE’s most valuable brand for the third consecutive year, according to a new report from Brand Finance, the world’s leading independent ranked business valuation consultancy. Adnoc’s AED39.7 billion 2021 brand value, a triple-digit percentage increase since the launch of its transformation strategy in 2016, makes it the second ...

ABU DHABI / WAM The Abu Dhabi Investment Office (ADIO) is partnering with the leading music streaming service in the Middle East and Africa (Mena), Anghami, to establish the technology pioneer’s global headquarters and research and development (R&D) centre in Abu Dhabi. The partnership is part of the ADIO’s recently announced Innovation Programme valued at AED2 billion, which is an ...