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  Bloomberg The Bank of England is likely to keep interest rates in painful territory through this year or longer even as the economy falls into recession. Inflation is running five times above the BOE’s target, and Governor Andrew Bailey is concerned that worker shortages are feeding wage pressures. The market is betting on another 1 point increase in the ...

  Bloomberg The US and other industrialized countries may be able to bring inflation down without triggering the huge jumps in unemployment that economists may have predicted prior to the pandemic, according to new research from the Federal Reserve Bank of Chicago. If correct, that might improve the chances for a soft landing of the US economy as the Fed ...

Bloomberg UK Prime Minister Rishi Sunak will look to begin closing a series of pay deals with trade unions, as the government enters 10 days of crunch talks ahead of coordinated strike action planned for early February. Members of the Cabinet have told Sunak he must act fast to avoid a week of strikes that threaten to bring the country ...

Bloomberg Secretary of Defense Lloyd Austin said time is running out to give Ukraine the advanced weapons it needs before an expected Russian offensive in the spring, as both the US and Germany hold out against Kyiv’s requests for their most powerful battle tanks. Austin said allied officials agreed at a meeting in Germany on Friday they would ensure that ...

Bloomberg Germany and France renewed calls for a more closely aligned Europe to counter the imperialist ambitions of Russian President Vladimir Putin and to bolster the democratic values that underpin the EU. German Chancellor Olaf Scholz met with French President Emmanuel Macron in Paris on Sunday to celebrate the 60th anniversary of the signing of the Elysee Treaty, which was ...

  Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has announced that 2023 will be the “Year of Sustainability”. The “Year of Sustainability” will include several initiatives, activities and events that draw upon the UAE’s deep-rooted values of sustainability and the legacy of its founder, the late Sheikh Zayed bin Sultan Al Nahyan. It will ...

  Abu Dhabi / WAM Adnoc Distribution on Friday announced plans to reduce its carbon intensity by 25% by 2030. This will be implemented by putting sustainability at the core of its day-to-day operations to future-proof its business and deliver sustainable long-term shareholder value. Central to Adnoc Distribution’s enhanced sustainability drive is a commitment to decarbonise its operations by reducing ...

Davos / WAM The World Economic Forum 2023 has announced the joining of Mohammad bin Abdullah Al Gergawi, Minister of Cabinet Affairs, to the WEF Leadership Council, which includes 13 members from various countries. The council will be an important institutional community to act as a sounding board for the forum’s long-term strategy and help it to play a particular ...

  Bloomberg The value of the voluntary carbon market that allows polluters to buy credits to offset emissions is set to grow fivefold by 2030, after expanding at a record pace over the past two years, according to Shell Plc. The global voluntary market is expected to increase from an estimated value of $2 billion in 2021, Shell said in ...

Bloomberg The Netherlands and Japan, home to key suppliers of semiconductor manufacturing equipment, are close to joining a Biden administration-led effort to restrict exports of the technology to China and hobble its push into the chips industry. The Dutch and Japanese export controls may be agreed to and finalized as soon as the end of January, according to people familiar ...