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Bloomberg The engine of the German economy is turning into a brake in the face of a global supply crunch, threatening to derail the nation’s recovery. While its strong focus on manufacturing helped Europe’s largest economy fare better than its more service-heavy peers in the region during Covid-19 lockdowns, Germany’s rebound is now at risk as companies report shortages of ...

Bloomberg British companies are expecting to raise prices and boost wages amid the strongest business confidence in more than four years, according to a survey published on Tuesday. More than a third of firms anticipate increasing wages by at least 2%, reflecting labour shortages, and almost half plan price hikes, the latest Lloyds Business Barometer shows. Overall confidence rebounded to ...

Bloomberg US consumer sentiment remained weak in late August amid ongoing concerns over inflation and the coronavirus pandemic. The University of Michigan’s final sentiment index falls to a near-decade low of 70.3 during the month from 81.2 in July, data showed. The figure was in line with the preliminary reading and just below the median estimate of 70.8 in a ...

Bloomberg Euro-area inflation jumped to the highest in a decade in August, testing policy makers’ insistence that a post-crisis spike in cost pressures should prove temporary. Consumer prices rise 3%, exceeding the predictions of all 37 economists in a Bloomberg survey. A measure of core inflation that strips out volatile items such as energy and food reached 1.6%, the highest ...

ABU DHABI / WAM Emirates Global Aluminium (EGA) on Monday reported a profit of AED1.74 billion ($473 million) for the first half of 2021, the company’s strongest half-year financial performance ever. EGA’s adjusted Earnings Before Interest, Taxes, Depreciation and Amortisation (adjusted EBITDA) was AED3.49 billion ($950 million), up 111 percent on the same period last year. Some 86 percent of ...

Abu Dhabi / WAM The Global Manufacturing and Industrialisation Summit (GMIS) and Etisalat announced a partnership to accelerate the deployment of the fifth generation of wireless networks (5G) to promote digital transformation both in the United Arab Emirates and globally. As a strategic partner to GMIS, Etisalat will share best practices from its experience in rolling 5G communication networks and ...

Dubai / WAM Zayed University (ZU) has signed an alliance agreement with UN Women, the United Nations entity for gender equality and women’s empowerment, to tackle harmful stereotypes of women and men in media and advertising. As the first academic institution in the region to become an ally of the UN Women’s Unstereotype Alliance, UAE chapter, Zayed University will drive ...

Abu Dhabi / WAM In cooperation with the Department of Health – Abu Dhabi, Abu Dhabi Health Services Company (Seha), the UAE’s largest healthcare network, has announced the provision of free Covid-19 PCR nasal swab tests for all students at selected Seha facilities and screening centres across the UAE. The initiative aims to implement the country leadership’s ambition to deliver ...

Abu Dhabi / WAM Abu Dhabi University (ADU) is gearing to kick-off the 2021-2022 academic year with a safe and secure hybrid learning environment that will make it easier for students to thrive and succeed. On August 29, ADU welcomed around 7,900 new and returning students to its upgraded, digitally sophisticated campuses in Abu Dhabi, Al Ain, Dubai, and Al ...

Bloomberg From Covid risks to talk of a reduction in US stimulus, there’s been no shortage of bad news for Asian currencies. An upcoming report on China’s manufacturing sector may add to the pressure. Traders are looking to Chinese factory data for clues on the global outlook after the world’s second-largest economy slowed more sharply than expected in July. The ...