Uncategorized

Bloomberg Confidence in the euro-area economy improved to the highest level in more than two decades in June as a reopening of shops, restaurants and other services propelled the region’s recovery from the pandemic crisis. A European Commission sentiment index increased to 117.9, exceeding almost all estimates in a Bloomberg survey. The gain was driven by surging optimism in services, ...

Bloomberg Elon Musk’s satellite network Starlink is on track to beam broadband internet everywhere in the world except the polar regions by August. Space Exploration Technologies Corp has launched more than 1,500 satellites so far and has Starlink operations in about a dozen countries, Musk said during a presentation at the Mobile World Congress conference. That’s costing a lot. SpaceX’s ...

Bloomberg Americans are enjoying outsized pay boosts this year from desperate employers, but the raises are failing to keep pace with surging prices for everyday goods. US wages likely posted a third strong monthly gain to fuel a 3.6% increase in June from a year earlier, according to economists’ forecasts ahead of the Labour Department’s jobs report. Companies including FedEx ...

ABU DHABI / WAM HH Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of Abu Dhabi Crown Prince’s Court and Chairman of Etihad Rail, has inaugurated track-laying works at the Seih Shuaib site, which is the centre point for track-laying running to Abu Dhabi and Dubai. Sheikh Theyab reviewed the latest progress during a 10-kilometre trip aboard an inspection ...

Ras Al Khaimah / WAM RAK Ports signed a strategic partnership with Danish established Monjasa, a global top ten bunker fuel provider supplying around five million tonnes of oil products every year. Firmly rooted in the Middle East since 2006, Monjasa’s office in Dubai employs 75 specialists covering regional supply operations across the Arabian Gulf and West Africa. With recent ...

Dubai / WAM The global contactless economy is booming, and companies based in Dubai Internet City (DIC) are playing an integral role in positioning Dubai as an incubator and exporter of innovative contactless technologies that have gained new importance as consumers move away from cash. Contactless services are seeing a steep rise in demand due to better user experiences and ...

SHARJAH / WAM The American University of Sharjah (AUS) has signed a Memorandum of Understanding (MoU) with the Ajman Transport Authority to enhance and facilitate collaboration between the two entities. Held virtually, the signing ceremony was attended by senior officials from both organisations, including AUS Chancellor Prof. Kevin Mitchell and Omar Mohammed Rashid Lootah, Director-General of the Ajman Transport Authority. ...

Bloomberg Jacob Zuma, who’s been repeatedly implicated in aiding and abetting the plunder of state funds during the near decade he led South Africa, was sentenced to 15 months in jail for defying a court order to testify at a graft inquiry. The Constitutional Court ruled in January that Zuma had to respond to questions from a judicial commission headed ...

DUBAI / WAM HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on Monday said the vision, proactive strategy and committed efforts of the UAE’s federal and local teams have enabled the UAE economy to be progressive, resilient and stable and maintain a high level of preparedness to deal with ...

Cairo / WAM Nevine Gamea, Egyptian Minister of Trade and Industry, stated that the UAE is Egypt’s largest trade partner in the Middle East, noting that the size of the trade exchange between the two countries amounted to $4.11 billion in 2020, rising from $3.356 billion in 2019. During her meeting with the UAE Ambassador to Egypt and the UAE’s ...