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Bloomberg The cost of servicing UK government debt more than tripled in October from a year earlier due to surging inflation, leaving the budget deficit higher than economists forecast. Interest costs were 5.6 billion pounds ($7.6 billion) compared with 1.8 billion pounds in the same month in 2020, the Office for National Statistics (ONS) said. In the first seven months ...

Bloomberg The International Monetary Fund’s (IMF) executive board approved a $50 billion credit line for Mexico, reducing the amount it extended in previous years as it argues that the nation’s economic prospects have improved. The two-year flexible credit line, which is designed for crisis prevention, is Mexico’s ninth such consecutive agreement, and is about 20% less than the amount approved ...

Bloomberg Global talks on how to clean up shipping are set to begin on Monday as momentum builds to cut pollution from the sector. The International Maritime Organisation (IM)) is under pressure to do something,” said Edmund Hughes, who was previously responsible for greenhouse gas emissions at the United Nations body, which is shipping’s global regulator and the host of ...

Bloomberg BMW AG’s Chief Financial Officer Nicolas Peter expects full-year earnings near the upper end of the company’s guidance as higher vehicle prices offset production outages stemming from the dearth of chips. BMW’s returns from automaking will likely be at the higher end of the 9.5% to 10.5% of sales the company projected in September, the CFO said. While BMW ...

ABU DHABI / WAM His Highness Sheikh Khalid bin Mohamed bin Zayed Al Nahyan, Member of the Abu Dhabi Executive Council, Chairman of the Abu Dhabi Executive Office, and Chairman of the Executive Committee of the Board of Directors of Abu Dhabi National Oil Company (Adnoc), on Wednesday launched a new global renewable energy and green hydrogen venture between Adnoc ...

Abu Dhabi / WAM The UAE Ministry of Industry and Advanced Technology (MoIAT) signed a memorandum of understanding (MoU) with the Ministry of Industry and Trade of the Russian Federation to bolster industrial collaboration in hydrogen fuel technology. In line with their common objective to develop sustainable and reduced or emission-free energy sources, as well as achieve a carbon neutral ...

ABU DHABI / WAM The global maritime community convened at the Adipec 2021 Offshore and Marine Conference on Wednesday to explore the critical enablers of decarbonising the industry and ensuring it is on track with the International Maritime Organization (IMO) targets and the UN Sustainable Development Goals. Held under the patronage of President His Highness Sheikh Khalifa bin Zayed Al ...

Abu Dhabi / WAM The UAE will celebrate Oman’s 51st National Day on November 18, underscoring the close relations between the two countries, which have witnessed significant development under the leadership of President His Highness Sheikh Khalifa bin Zayed Al Nahyan and HM Sultan Haitham bin Tariq, reaching the level of a strategic partnership in political, economic, social and cultural ...

Dubai / WAM The Cybertech Global Conference 2022, returns to Dubai for the second time in full scale on the June 13-14, 2022, gathering thousands of C level decision makers and brings new market opportunities for multinational corporations, startups, private and corporate investors, venture capital firms, government entities and academia. The conference aims to foster expert collaborations, create new business ...

Bloomberg A virtual summit between US President Joe Biden and Chinese leader Xi Jinping marked a “good beginning” for the world’s biggest economies to avoid a conflict, former Secretary of State Henry Kissinger said. “They now have to be followed by concrete discussions that lead in a direction both presidents have affirmed they want to pursue,” the influential US diplomat ...