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Bloomberg Lawmakers in the European Parliament’s environment committee agreed a set of draft compromise changes to a sweeping overhaul of the European Union’s carbon market in a push to further strengthen the cap-and-trade program. Representatives of the biggest political groups in the ENVI committee signed off on joint proposals to toughen carbon permit supply controls and improve existing shields against ...

  Bloomberg John Lee became the only candidate for Hong Kong’s top post by proving his willingness to loyally execute Beijing’s demands despite an international outcry. The question now is whether he can convince China that re-opening the Asian financial centre to the world won’t jeopardise its control. Lee, a former cop and security minister, emerged as a leading advocate ...

Bloomberg The UK has set out sweeping new plans to regulate tech companies and impose massive fines, but has stopped short of saying how it will enforce the laws. The government will provide a new watchdog — the Digital Markets Unit — with the power to enforce competition rules, such as stopping firms from hurting rivals by preinstalling their own ...

  Bloomberg Elon Musk may be the world’s richest person, but that doesn’t mean he wants to put his massive fortune at risk to buy Twitter Inc. The Tesla Inc co-founder restructured his complex bid for the social-media giant by getting $7.1 billion in equity commitments from investors. He also cut in half the size of a record margin loan ...

Bloomberg Colombian inflation accelerated to its fastest pace since July 2000 last month, as the central bank signals it will continue to raise borrowing costs to rein in soaring prices. The annual inflation rate rises to 9.2% in April, the national statistics agency said, surprising all 24 analysts surveyed by Bloomberg who had a median forecast of 8.8%. The pace ...

  Bloomberg Growth at US service providers eased in April while cost pressures worsened, highlighting how decades-high inflation and an ongoing struggle to hire and retain workers is weighing on the sector. The Institute for Supply Management’s gauge of services decreased to 57.1 last month from 58.3 in March, according to data. Readings above 50 signal expansion. The median estimate ...

  Abu Dhabi / WAM AD Ports Group and the Red Sea Ports Authority signed a Term Sheet and a Head of Terms agreement for major port projects along Egypt’s coastline. The first agreement will see AD Ports Group develop, operate, and manage a multi-purpose terminal in Safaga Port in a consortium with the Red Sea Ports Authority and the ...

  Abu Dhabi / WAM Abu Dhabi National Exhibitions Company (Adnec), the emirate’s premier event venue, is gearing up to host a wide variety of high-level international conferences throughout 2022. As a key leader in the business tourism industry, Adnec’s hosting of these important and strategic conferences strengthens the reputation of Abu Dhabi as a global business tourism destination and ...

  Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of th UAE and Ruler of Dubai, said the UAE Armed Forces will continue their significant contributions to the nation’s track record of achievements over the coming 50 years and beyond, just as they did over the past five decades. Noting that economic ...

  DUBAI / WAM Tourism professionals from around the world will return to Dubai next week when Arabian Travel Market, the leading event for the travel industry in the Middle East, returns to the Dubai World Trade Centre on Monday, May 9. The event will welcome more than 20,000 visitors and over 1,500 exhibiting companies during the four-day tourism showcase, ...