News

  Abu Dhabi / WAM Etihad Cargo, the cargo and logistics arm of Etihad Aviation group, will further reinforce its commitment to the US market with the introduction of an additional three weekly flights to John F Kennedy International Airport (JFK) from April 24. The additional flights will bring Etihad Cargo’s total cargo capacity to over 600 tons out of ...

  Sharjah / WAM Expo Centre Sharjah (ECS) has announced the completion of all preparations for the 18th edition of the SteelFab (SteelFab 2023) exhibition, the largest event of its kind in the Middle East and North Africa region. The event is organised by ECS, with the support of the Sharjah Chamber of Commerce and Industry (SCCI), from January 9-12. ...

  Bloomberg Asia’s manufacturers remained under pressure in December as activity continued to contract under the weight of slowing global demand. Several purchasing managers indexes were in negative territory across the region. The S&P Global PMI reading for Vietnam fell to 46.4 from 47.4 in November, its lowest reading since September 2021. A reading above 50 indicates expansion from the ...

  Bloomberg Malaysia expects “some kind of finality” in its review of the 5G mobile services contract by this quarter, said Communications Minister Fahmi Fadzil, amid fears that it would delay the rollout of the high-speed network. The government’s concerns with the 5G services range from the contracts signed to the speed that the network is being deployed, Fahmi said ...

  Bloomberg Singapore’s recovery held up in 2022, with a relatively strong year-end performance shoring up the economy ahead of an expected global slowdown this year. Gross domestic product grew 3.8% during the year, according to advance estimates from the Ministry of Trade and Industry. That’s a slight beat from the government’s projection for a 3.5% annual expansion. The better-than-forecast ...

  Bloomberg Hyundai Motor Co sold 3.94 million vehicles last year, short of its 4.01 million target as the pandemic, supply disruptions, inflation and concerns of recession continued to strain the industry. Hyundai, which already cut its 2022 forecast from 4.32 million vehicles in October, expects global sales to reach 4.32 million units in 2023 — 3.54 million overseas and ...

  Bloomberg China’s economy ended the year in a major slump as business and consumer spending plunged in December, with more disruption likely in the first few months of the year as Covid infections surge across the country. Official data showed the decline in manufacturing worsened last month, while activity in the services sector plunged the most since February 2020. ...

  Bloomberg International Monetary Fund (IMF) Managing Director Kristalina Georgieva warned that the global economy faces “a tough year, tougher than the year we leave behind.” “We expect one-third of the world economy to be in recession,” Georgieva told CBS’s ‘Face the Nation’ in an interview aired January 1. “Why? Because the three big economies — US, EU, China — ...

  Abu Dhabi / WAM More than 3,000 women and children have benefited from the services offered by the Dubai Foundation for Women and Children (DFWAC) during 2022, Shaikha Saeed Al Mansouri, Acting Director-General of the foundation, has announced. Al Mansouri also revealed that more than 10,000 people interacted with foundation through its platforms, while well over 2,000 people, including ...

  Abu Dhabi / WAM Wio Bank, the region’s first platform bank, is partnering with First Abu Dhabi Bank (FAB) to offer its Wio Business customers cash and cheque facilities through FAB’s established ATM and CDM network. The Wio Business app has been integrated with the FABePay portal to enable users to initiate cash or cheque deposits in a simple ...