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Abu Dhabi / WAM The number of employed persons in the UAE accounted for 97.8 percent of the country’s working age population by the end of 2019, figures by the Federal Ccompetitiveness and Statistics Authority (FCSA) have shown, indicating that the majority of the total population are engaged in economically productive activities. The number of workforce was 7.388 million in ...

ABU DHABI / WAM Sanad, an industry leader in aerospace engineering and leasing solutions, and Etihad Airways, the UAE’s national carrier, have closed a new spare engine deal which further cements Abu Dhabi’s position as a self-sustaining international aviation sector hub. The announcement of the new deal came during the Global Aerospace Summit in Abu Dhabi, where industry leaders convened ...

Bloomberg The UK could be facing a long-term increase in the size of the state as well as a substantial tax increase as a result of the coronavirus pandemic, according to the Institute for Fiscal Studies. The influential research group said on Tuesday it is “highly plausible” that government spending is around 45% of gross domestic product by the middle ...

Bloomberg Swedish confidence indicators rise for a fifth consecutive month in September, to levels not seen since the outbreak of the coronavirus pandemic. The overall economic tendency survey rise to 94.5, from a revised 87.6 in August, the National Institute of Economic Research said on Tuesday. That is the highest level since February, before the pandemic sent sentiment plunging to ...

Bloomberg UK mortgage approvals hit a 13-year high in August as the housing market extended its tax-cut fuelled mini boom. Lenders signed 84,700 home-loan agreements, the most since October 2007, the Bank of England said on Tuesday. Demand for unsecured credit slowed from July. The surge in approvals reflects homebuyers seeking to tie up deals after Chancellor Rishi Sunak waived ...

Bloomberg Economic confidence in the euro area continued to improve in September, albeit at a slower pace as resurgent virus infections cast uncertainty over the outlook. A European Commission sentiment index rises for a fifth month to 91.1, exceeding economists’ median estimate. Yet confidence remains more than 30% below its pre-crisis level and evidence is building that the steep rebound ...

Bloomberg Argentina’s economic recovery lost steam in July after the government re-imposed stricter quarantine measures in a failed bid to contain the pandemic. Economic activity rise 1.1% in July from a month earlier, after two months of stronger gains as the economy rebounded from a historic drop in April. Activity falls 13.2% from a year earlier, worse than economists’ expectation ...

Bloomberg Germany may join other European nations in limiting the number of people at private and public gatherings in areas with high coronavirus infection rates, as officials across the continent labor to reverse a recent uptick in cases. Chancellor Angela Merkel will recommend restricting private meetings to 25 people and public gatherings to 50 people when she holds talks with ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, launched ‘Designing the Next 50’ project to involve the public in shaping the future of the UAE. The project will bring together all members of the society to establish the pillars and components of the UAE Centennial ...

Abu Dhabi / WAM Sanad, a wholly-owned subsidiary of Mubadala Investment Company (Mubadala) announced today a new AED1 billion deal with Pratt & Whitney and International Aero Engines (IAE). The new agreement will see Sanad Aerotech providing IAE with expanded maintenance, repair and overhaul (MRO) services for its V2500 engines, which powers the Airbus A320 family of aircraft. The announcement ...