Bloomberg The French economy will grow this year despite soaring inflation and uncertainty over the war in Ukraine, Finance Minister Bruno Le Maire said. The minister declined to give an estimate, saying he would update country’s growth forecast once a revised budget bill is presented following the legislative elections later this month. “It was 4%, it’s obvious that with ...

  Bloomberg A glut of fertilisers at the biggest Brazilian ports signals that the price of the nutrients may have to drop further before farmers start buying. In Paranagua, private warehouses reached their maximum storage capacity of 3.5 million tons, according to Luiz Teixeira da Silva, Paranagua’s operations director. A terminal operated by VLI Logistics, one of the two at ...

  Bloomberg US equity futures pared gains on Tuesday and a rebound in European stocks proved short-lived, suggesting markets aren’t out of the woods after a rout driven by expectations of sharper Federal Reserve interest-rate hikes to fight inflation. S&P 500 contracts came off session highs to trade around 0.5%, signalling some relief after the plunge that erased $1.3 trillion ...

  Bloomberg Indian central bank’s verbal pledge to support a record government-borrowing program hasn’t been backed by actions so far and that may lead to a deeper selloff in the bond market, according to a top fund manager. The RBI “has just started doing a little bit of open-mouth operations in the sense they want the yield curve to behave ...

  Dubai / WAM Germany and the UAE as strong economic partners will continue “the old-fashioned trade,” but they have an opportunity to make joint investments in new technologies and businesses of the “new economy” that will help achieve their net-zero targets, a top German diplomat told the Emirates News Agency (WAM). “We have very good economic relations. But there’s ...

  Abu Dhabi / Gulf Time ADQ, an Abu Dhabi-based investment and holding company, on Monday announced it has entered into a definitive agreement to acquire Birgi Mefar Group (BMG), one of Turkey’s leading producers of sterile injectable products.­ As a full-service pharmaceutical CDMO, BMG is a production service provider for sterile injectable products, namely vials and pre-filled syringes used ...

  Abu Dhabi / WAM Borouge, a leading petrochemical company that provides innovative and differentiated polyolefin solutions, has been included in FTSE Russell’s FTSE Global Equity Index Series which includes three world-renowned indices – FTSE Emerging Index, FTSE Global Large Cap Index and FTSE All-World Index – as of June 10. FTSE Russell’s indices are used by investors globally to ...

  Kuwait/ WAM The Central Agency for Public Tenders of Kuwait (CAPT) has stated that the agency awarded 235 tenders worth $5.9 billion in 2021. Secretary-General of CAPT Usama Al-Duaij told Kuna that number of awarded tenders has been mounting on an annual basis, however, the total sum of offers reached, in 2020, only 98 ones, worth approx $1 billion, ...

  Dubai / WAM The value of exports and re-exports of Dubai Chamber members grew 28.3% year-on-year (YoY) to reach AED23.1 billion in May 2022, marking the highest level since August 2018. Members’ exports and re-exports amounted to AED104.3 billion between January and May, achieving 15.8 percent YoY growth when compared to the same period last year. Over 291,000 certificates ...

  ABU DHABI / WAM Ewec, the Emirates Water and Electricity Company, has announced that production of desalinated water using low carbon-intensive reverse osmosis (RO) technology from the Taweelah RO facility has reached 50 percent capacity. Taweelah RO, connected to the Abu Dhabi network in December 2021, is now providing 100 million gallons per day of desalinated water, and will ...