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  Bloomberg US consumer prices rises last month at the fastest annual pace in nearly 40 years, underscoring how rapid and persistent inflation is eroding paychecks and increasing pressure on the Federal Reserve to tighten monetary policy. The consumer price index (CPI) climbed 6.8% from November 2020, according to Labour Department data. The widely followed inflation gauge rises 0.8% from ...

Bloomberg General Motors Co plans to build its third US battery plant with partner LG Chem Ltd. in Michigan and will commit its Orion assembly plant to electric vehicles, a person familiar with the matter said. The Detroit automaker has applied for tax abatements for projects in both Orion Township and outside Lansing, Michigan, said the person, who put the ...

Abu Dhabi / WAM Masdar, one of the world’s fastest-growing renewable energy companies, has received the coveted ‘Award of Excellence – Power’ at the S&P Global Platts Global Energy Awards 2021, beating companies from across the entire energy sector and demonstrating its leadership in clean energy. The US-based event is one of the most prestigious for the global energy industry. ...

DUBAI / WAM Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence, and Commissioner-General of Expo 2020 Dubai, and Dr Nayef Falah Mubarak Al Hajraf, Secretary-General of the Gulf Cooperation Council (GCC), attended the launch of the GCC Youth Forum hosted by the Youth Pavilion at Expo 2020 Dubai. Held under the theme “United Youth, Shared Vision”, and ...

BRASILIA / WAM A delegation from the Ministry of Defence led by Major General Staff Pilot Mubarak Ali Al Neyadi, Head of the Executive Department for Defense Policies and Strategic Affairs, participated in the 6th Brazilian Defense Industrial Base Exhibition (BID 2021). Major General Staff Pilot Mubarak Al Neyadi met with Brazilian Defense Minister Walter Braga on the sideline of ...

Sharjah / WAM Sultan Abdullah bin Hadda Al Suwaidi, Chairman of Sharjah Economic Development Department (Sedd), and Dr Khalid Omar Al Midfa, Chairman of Sharjah Media City (Shams), discussed cooperation and enhancing coordination between the two parties for the benefit of the investor. Earlier, Al Suwaidi and several directors and advisors received Dr Al Midfa and his delegation at the ...

Bloomberg For most of his two decades in power, Vladimir Putin tried to get the US to pay attention to his fears about Nato expanding on his doorstep. After a massive troop buildup raised alarms Russia would invade Ukraine, Joe Biden finally said he’s ready to talk about Putin’s security worries. The Kremlin understands there’s virtually no chance of the ...

ABU DHABI / WAM Abdullah Mohamed Al Mazrouei, Chairman of the Federation of the UAE Chambers of Commerce and Industry, said that the historic relations between the UAE and Saudi Arabia are deep-rooted and are a prime example of the best forms of cooperation on the highest levels,” said. This came during the UAE-KSA Business Forum held in Abu Dhabi ...

Dubai / WAM The UAE and Australia enjoy friendly, multi-faceted and rapidly growing relations, said Justin McGowan, Commissioner General of Australia at Expo 2020 Dubai. The UAE is Australia’s largest trading partner and second-largest source of investment in the Middle East, he said, adding that annual trade between the two countries is valued approximately at $7.1 billion. In a statement ...

Abu Dhabi / WAM Mubadala Investment Company, the Abu Dhabi based sovereign investor, announced its investment in Medallia, the market leader in customer and employee experience management software, alongside Thoma Bravo, a leading software investment firm. The minority co-investment was conducted in connection with Thoma Bravo’s recent take private of the San Francisco-based enterprise software company. Thoma Bravo announced the ...