Bloomberg BHP Group struck a deal to look for copper in Serbia as the world’s biggest mining company expands efforts to find new deposits of the metal essential for the green revolution. The top miners are bullish on the outlook for copper, which is used in wind turbines, grids and electric vehicles. And with demand expected to outstrip supply, ...
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Europe bracing for a sharp, abrupt real estate reversal
Bloomberg Turmoil at trophy properties in London and Frankfurt offer a glimpse of the damage awaiting European real estate investors as they face the sharpest reversal on record. From a fraught refinancing process for an office building in the City of London to the strained sale of the Commerzbank Tower in Germany’s financial hub, investors are scrambling to find ...
Read More »UK ambulance staff stage biggest strike yet as unions join forces
Bloomberg Ambulance workers walked out Monday in the biggest show of industrial action by first responders since trade unions kicked off an historic series of protests against pay levels in Britain’s National Health Service. Workers from Unison, Unite and the GMB labor groups are on strike again with the public advised to only call 999 if there’s a life-threatening situation. ...
Read More »Londoners escape worst of inflation crisis with big pay hikes
Bloomberg London residents are weathering the cost-of-living crunch better than people in the rest of the UK, one research group concluded. Residents of the capital saw their real wages adjusted for inflation slip by £9 ($11.13) a week compared to a year ago during the fourth quarter of 2022, research from the Centre for Economics and Business Research indicates. ...
Read More »Berlin’s indecision over tanks for Ukraine draws rebuke
Bloomberg Latvia’s top envoy criticized Germany over its indecision on whether to send Ukraine the Leopard 2 tanks, saying there are no longer any “good arguments†not to give Kyiv the heavier weapons it demands. The three Baltic nations — Latvia, along with Estonia and Lithuania — were expected to reiterate calls for Germany to send the tanks when the ...
Read More »Mubadala-subsidiary Strata reports record-breaking year
Abu Dhabi / WAM 2022 was another stellar year for Strata, the advanced manufacturing and aerospace manufacturing firm based in their state-of-the-art facility in Al Ain, throughout which the Mubadala company established itself as a transformative company capable of shaping the future of manufacturing in the UAE. Reaching the significant milestone of thirty production lines in 2022 was merely the ...
Read More »Dubai wins 232 bids for business events in 2022
Dubai / WAM Business events are poised to make a vital contribution to Dubai’s economic development and tourism growth, with another exceptional year of successful bids for international conferences, congresses, meetings and incentive travel programmes. Dubai Business Events (DBE), the city’s official convention bureau, part of the Department of Economy and Tourism, said it won 232 bids for business ...
Read More »UAE, Egypt to enhance ties in banking sector
Abu Dhabi / WAM The central bank of the UAE (CBUAE) and the Egyptian Banking Institute (EBI) which is under the central bank of Egypt, discussed ways to promote cooperation in the field of training and building human capital capabilities relevant to the financial sector. This came during a meeting between Ehab Alameri, Chief Human Resources Officer at the CBUAE, ...
Read More »UAE distributes AED200m in marriage grants in 2022
Dubai / WAM Hessa bint Essa Buhumaid, Minister of Community Development, revealed that the total amounts disbursed for marriage grants last year reached AED199,080,000, reaching 2,844 beneficiaries across the UAE compared to 2,727 beneficiaries during 2021. Buhumaid said that the marriage grants by the Ministry of Community Development (MoCD) align with the leadership’s keenness and government support to Emirati youth ...
Read More »FTA opens pre-registration for corporate tax through EmaraTax
Abu Dhabi / WAM The Federal Tax Authority (FTA) has launched early registration for corporate tax through EmaraTax, the UAE’s digital tax services platform. The step comes in line with Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses (the Corporate Tax Law), which stipulates that Taxable Persons will become subject to Corporate Tax from ...
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