Bloomberg Sri Lankan President Gotabaya Rajapaksa arrived in Singapore Thursday after fleeing months of anti-government protests that forced him to pledge to resign. Rajapaksa flew to Singapore’s Changi Airport from the Maldives, where he had made a brief stop after leaving Sri Lanka Wednesday aboard a military aircraft. The island nation’s Security Council agreed to his request for safe passage ...

Bloomberg Negotiations over unblocking millions of tons of Ukraine’s grain exports were constructive, according to Ukraine, the United Nations, Turkey and Russia, an initial step in bolstering global food supplies and aiding the country’s beleaguered farm sector. The talks were held in Turkey with representatives from the countries and the UN. The sides — who agreed on the “main technical ...

Bloomberg The euro area’s rebound from the pandemic will be weaker than anticipated while inflation will be faster because of Russia’s war in Ukraine, according to draft projections by the European Commission. With surging prices crimping demand and the danger of winter energy shortages draining confidence, gross domestic product is likely to advance 2.6% this year and 1.4% in 2023 ...

  Bloomberg Denmark broke European Union (EU) rules by letting local dairy producers market and export a white, crumbly cheese as “Feta” outside the region, the EU’s top court said. The European Commission, backed by Greece and Cyprus, sued Denmark in 2019 for failing to prevent or stop the “direct breach” of the European Union protection the name enjoys. Greece ...

  Bloomberg Volkswagen AG and other car markers risk violating European Union rules — and face more consumer claims — after the bloc’s top court said the use of IT meant to protect car components from damage at certain temperatures could be illegal. In a dispute stemming from the aftermath of the diesel scandal that roiled the German car giant, ...

  Bloomberg The Bank of France said the economy grew by about 0.25% in the second quarter, despite record inflation, the knock-on effects of Russia’s invasion of Ukraine and growing uncertainty about the outlook for business. According to the central bank’s assessment, which is based on a monthly survey of 8,500 firms, industrial activity was stable and the services advanced ...

  Bloomberg Argentines face the prospect of 90% inflation by year end after the economy minister’s exit triggered overnight price rises and the central bank comes under pressure to let the peso depreciate more rapidly. That would be the fastest pace since hyperinflation three decades ago, and the highest rate in the world outside Venezuela and Sudan, according to forecasts ...

  Bloomberg US equity futures fall along with stocks in Europe and the dollar resumed its upward march on Thursday after high US inflation hardened expectations for more aggressive Federal Reserve monetary tightening that could trigger a recession. The Stoxx Europe 600 index declined more than 1%, dragged down by the telecom sector, where Ericsson AB plunged more than 10% ...

Bloomberg Surprise policy tightening moves announced by central banks in Singapore and the Philippines signal Asia is now fully awake to the threat of accelerating inflation, and is playing catch up with its global peers. Analysts in the region recommend a number of strategies that investors can take in response to the increasingly hawkish environment, including favouring the Singapore dollar, ...

  Abu Dhabi / WAM His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Member of Abu Dhabi Executive Council and Chairman of Abu Dhabi Executive Office, has chaired a meeting of the Executive Committee of the Board of Directors (BoD) of Abu Dhabi National Oil Company (Adnoc). During the meeting, which was held at Adnoc’s headquarters in Abu ...