Bloomberg Croatia won the EU’s endorsement to join the region’s visa-free travel area while Bulgaria and Romania’s bid was delayed. EU home affairs ministers agreed in Brussels that Croatia should be allowed to join the so-called Schengen area on January 1. This means the country will no longer be bound by the bloc’s internal border controls and paves the ...

Bloomberg Citigroup Inc is seeing countries around the world roll into recessionary environments, with the US economy on track to follow them in the second half of next year, said Chief Executive Officer Jane Fraser. The New York-based bank is worried in particular about Europe, which Fraser said has already entered a recession. It may take years for countries across ...

  Bloomberg The yuan rally spurred by China’s reopening optimism is set to face a reality check as doubts grow on whether any economic rebound will match the currency’s rapid gains. The yuan wiped out nearly a third of its yearly loss last month before surging past the key 7 per dollar level. Its appreciation beyond 6.95 would suggest the ...

  Bloomberg Australia is keeping an open mind on a central bank digital currency, a senior Reserve Bank official said, while adding it remains to be convinced there’s a case for one in a country with easy financial and cash access. RBA Assistant Governor Brad Jones laid out the pros and cons of a CBDC in a speech in Sydney, ...

  Bloomberg European equities extended a four-day slide as optimism over a potential downshift in the Federal Reserve rates hikes deflates in the face of economic headwinds. The Stoxx Europe 600 slipped 0.2%, with property firms and banks pacing declines. Contracts on the S&P 500 steadied to trade little changed after the underlying benchmark posted the longest stretch of down ...

Bloomberg Shares of a small Japanese green-technology firm have more than tripled in less than half a year on investor bets that microwaves will play a major role helping manufacturers reduce carbon emissions. Microwave Chemical Co. has jumped 268% since it listed in June, with its market value touching a high of about $300 million. Most of the gains have ...

  Abu Dhabi / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan, discussed during a phone call with Vladimir Putin, President of the Russian Federation, ways to build on the cooperative relationship between the two countries, as well as several regional and international matters of mutual interest.

Dubai / WAM Jebel Ali Free Zone’s (Jafza) petrochemical sector witnessed an increase in export volumes in 2021, which grew 52 percent year-on-year. Additionally, last year, the free zone alone accounted for over 50% of Dubai’s polymers and petrochemicals trade, valued at over AED49 billion ($13.34 billion). DP World, through its local and regional assets, multimodal connectivity, cost-effective supply chain ...

Abu Dhabi / WAM AD Ports group has signed a collaboration agreement with the Africa Finance Corporation (AFC), an infrastructure solutions provider in Africa, to address infrastructure gaps across the continent. The agreement provides the basis for the two organisations to join forces on identifying, financing, developing and investing in much-needed ports, warehouses, maritime and logistics infrastructure projects across Africa. ...

  Abu Dhabi / Gulf Time Abdulla Mohammed Al Mazrui, Chairman of Abu Dhabi Chamber of Commerce and Industry, (ADCCI), highlighted the growth in the food and beverage (F&B) and hospitality sector in Abu Dhabi, and the importance of the Abu Dhabi International Food Exhibition (Adife) in supporting this growth. Al Mazrui said, “the first edition of the Abu Dhabi ...