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Bloomberg Germany will prioritise strengthening its public-health service and hire more workers, Chancellor Angela Merkel said in her weekly podcast. Under the plan, the federal government will spend $4.7 billion by 2026 to allow for an additional 5,000 public health-care workers and the improvement of the digitalisation of health departments. The so-called ‘pact for the public health service’ was announced ...

Bloomberg Argentina must reduce its bond yields before returning to international capital markets in a process that will likely take some time, Economy Minister Martin Guzman said on the day the country concludes a $65 billion debt swap. In the shorter term, it will continue to work with the 1% of bondholders who did not accept the government’s debt restructuring ...

Bloomberg UK car sales declined in August, denting hopes of a recovery in the industry from a coronavirus-driven sales slump. Vehicle registrations dropped 5.8% to 87,226 vehicles, according to the Society of Motor Manufacturers and Traders. July brought the UK’s first monthly gain in car sales of 2020, providing some relief as the industry cuts jobs and capacity to weather ...

Bloomberg Canadian Prime Minister Justin Trudeau will extend a loan program for commercial landlords into September as small businesses struggle to reopen amid Covid-19, Globe & Mail reported. The Canada Emergency Commercial Rent Assistance Program will be extended for a third time as the government works through options for reforming its rent-relief strategy, the paper said, citing people familiar with ...

Bloomberg California narrowly averted another round of rotating blackouts after officials made desperate pleas to conserve power as reserves falls below critical levels during a record breaking heat wave. The state’s grid operator gave the all-clear signal shortly before 9 pm local time as temperatures fall after sundown. Earlier in the evening, officials declared a stage-two grid emergency — one ...

Abu Dhabi / WAM The UAE cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has approved the restructuring of the Board of Directors of the Emirates Development Bank under the chairmanship of Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology. The ...

Bloomberg Oil in New York closed below $40 a barrel for the first time in a month as a selloff in broader markets exacerbated concerns over weakening demand following a sluggish summer driving season. US benchmark crude futures tumbled nearly 4%, leading oil to post its worst week since June. Stocks weakened and the S&P 500 Index dropped more than ...

HANNOVER / WAM Badr Al Olama, Head of the Organising Committee, Global Manufacturing and Industrialisation Summit (GMIS) has highlighted the urgent need for a global dialogue to shape the future of the industrial sector in light of the coronavirus (Covid-19) crisis. In a speech on the sidelines of the first day of the #GMIS2020 Virtual Summit, Al Olama said the ...

Bloomberg India’s shrinking economy is not stopping foreign investors from pouring money into the nation’s stocks betting on a recovery. International buyers plowed a net $6 billion into shares in Asia’s third-largest economy in August, the most since March last year. That’s as all other markets in the region excluding China suffered net withdrawals during the month. Part of it ...

Abu Dhabi / WAM The United Arab Emirates helped bring various Sudanese rebel groups to the negotiating table, which eventually led to the historic peace accord in Sudan, a top Sudanese diplomat told Emirates News Agency (WAM). “The UAE has played a significant role in achieving the peace accord. They closely followed the negotiations since the beginning and offered assistance ...