BLOOMBERG The UK and European Union (EU) reached a deal on Northern Ireland’s trading arrangements, ending more than a year of often acrimonious wrangling over the post-Brexit settlement for the region, people familiar with the matter said. The agreement follows a meeting between British Prime Minister Rishi Sunak and European Commission President Ursula von der Leyen, according to the people, ...

BLOOMBERG Supporters of Italy’s Democratic Party have chosen Elly Schlein as their next leader, a surprise result that signals a shakeup in the country’s main political opposition and also means that women now lead both of the country’s biggest parties. The 37-year-old, who also holds US citizenship, won about 54% of the over 1 million votes cast during an informal ...

BLOOMBERG The Philippines has filed 10 diplomatic protests against China over alleged “violations” in the South China Sea with barely two months into 2023, underscoring renewed tensions between the two nations over the disputed waters. These form part of the 77 diplomatic protests filed against China under President Ferdinand Marcos Jr, the Philippines’ Department of Foreign Affairs said in a ...

BLOOMBERG China’s stance on the Russian invasion of Ukraine puts it in an “awkward” position internationally and any weapons support to Russia would come with “real costs,” US National Security Advisor Jake Sullivan said. Sullivan emphasized in three interviews with US television networks that the Biden administration doesn’t have evidence that China is giving “lethal support” to President Vladimir Putin’s ...

SHARJAH / WAM A delegation of 143 senior officials and directors from prominent food and beverage companies in Turkiye recently visited the Hamriyah Free Zone Authority (HFZA) to explore new investment opportunities and experience the quality services provided to investors in the sector. During the visit, the Turkish delegation was briefed on the investment incentives and advantages offered by the ...

ABU DHABI / WAM  Tawazun Council has established a free zone dedicated to the military and security sector in Tawazun Industrial Park. The free zone covers 2.8 square kilometres and has been established to commence operations related to defence and security industries, including electronic and technological activities, clear-cut metal industries, safety and security, research and development, as well as logistics ...

ABU DHABI / WAM Adnoc Gas plc on Monday announced that, following approval from the SCA, its selling shareholder, Abu Dhabi National Oil Company (Adnoc or the selling shareholder) has exercised its right set out in the UAE prospectus to increase the number of ordinary shares offered in the initial public offering (IPO) of the company. Adnoc will now offer ...

DUBAI / WAM  In his capacity as the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, issued directives to immediately allocate 8,500 land plots to Emirati citizens in the Al Yalayis 5 area. The plots are located on an area spanning 120 million square feet. His Highness Sheikh Mohammed’s ...

BLOOMBERG Hong Kong’s exports plunged in January by the most in 70 years as waning global demand and the Lunar New Year break weighed on trade and Chinese demand remained weak, even after the mainland emerged from Covid Zero. Overseas shipments plummeted 36.7% from a year earlier to HK$290.9 billion ($37.1 billion), the Census and Statistics Department said. That was ...

BLOOMBERG Essar Group plans to spend as much as $3.6 billion on low-carbon hydrogen production in the UK and India, as well as decarbonisation work at its refinery in northwest England, pending government support. The company’s first step would be a $1.2 billion investment in Britain to produce hydrogen from natural gas with carbon capture and storage, according to Prashant ...