Bloomberg Eritrean soldiers are leaving major cities in Ethiopia’s Tigray region, the latest sign that a peace deal aimed at ending two years of conflict is holding. Over the past 48 hours the troops were seen withdrawing by truck from the Ethiopian city of Shire and the town of Adwa near the northern border with Eritrea, said people who ...

Bloomberg Britain’s cost-of-living squeeze will tighten in 2023, with families shouldering higher tax payments at a time when energy bills and interest rates also are soaring. The Resolution Foundation said the average household will pay £1,000 ($1,204) more in taxes next year and £900 more for electricity and natural gas. About 2 million mortgage holders will suffer an average increase ...

Bloomberg Canada’s merger court ruled in favour of Rogers Communications Inc and Shaw Communications Inc in a key antitrust case, clearing one of the final hurdles to the union of two of the nation’s largest telecommunications firms. The federal antitrust commissioner failed to prove that the deal would cause significant harm to competition in the industry, the Competition Tribunal said ...

  Bloomberg The European Commission has asked EU member states to review Covid testing and sequencing procedures and to consider scaling them back up amid increased concern about the virus spreading from China. “If a new variant of the SARS-CoV2 virus appears — be it in China or in the EU — we must detect it early in order to ...

  Bloomberg Spanish inflation slowed for a fifth straight month in December, decelerating by nearly half since mid-year as energy costs continue to decline in the euro zone’s fourth-largest economy. Consumer prices rose 5.6% from a year earlier, down from a 6.7% advance in November, the statistics institute said. That’s a better reading than the 5.8% median estimate in a ...

Bloomberg Tesla Inc is expected to announce record quarterly deliveries in early January but that may not be enough to satisfy investors as the electric-vehicle leader grapples with inflation, rising interest rates, crimped production in China and concerns about softening demand. In an effort to clear inventory, Tesla offered a rare $7,500 discount to US customers who took delivery of ...

Bloomberg More tech tantrums. China’s Covid surge. And above all, no central banks riding to the rescue if things go wrong. Reeling from a record $18 trillion wipeout, global stocks must surmount all these hurdles and more if they are to escape a second straight year in the red. With a drop of more than 20% in 2022, the MSCI ...

  Bloomberg It’s been a year of historic selloffs for US equities. Marked by surging inflation, jumbo-sized interest rate hikes, a darkening outlook on corporate earnings and recession clouds, the S&P 500 Index has lost 21%, on pace for its biggest slump since 2008. From crypto to former pandemic winners and so-called Faang stocks, investors have been shaken out of ...

  Dubai / WAM Starting from January 1, 2023, private sector companies with 50 employees or more that have not raised Emiratisation targets by 2 percent of skilled jobs in 2022, will be fined, the Ministry of Human Resources and Emiratisation (MoHRE) said on Thursday. The fines are AED6,000 per month, a total of AED72,000 annually, for each Emirati who ...

  Abu Dhabi / WAM Emirates Water and Electricity Company (Ewec) has announced that, for the first time, over 60% of the total power demand was delivered from renewable and clean energy sources. The achievement was announced this month, with a generation of approximately 5.5 gigawatts (GW) of the total 8.6GW system power demand being supplied from Ewec’s solar power ...