ABU DHABI / WAM The UAE has welcomed appointment of Hans Grundberg as the UN Special Envoy for Yemen and reiterated its support for all efforts aimed at finding a peaceful solution towards ending Yemeni crisis. The Ministry of Foreign Affairs and International Cooperation praised the pivotal role played by the Kingdom of Saudi Arabia to bring about stability in …

Bloomberg After years of waiting, Infrastructure Week finally happened. US senators reached a bipartisan agreement on a $550 billion infrastructure bill, working through the weekend to finalise the text. Majority Leader Chuck Schumer said the bill could be voted on “in a matter of days.” While Congress was debating the size of the check, researchers at Princeton University’s Andlinger Center …

Bloomberg Internet stocks, food delivery companies and online retailers are paying a heavy price for any earnings disappointment. Companies from Asos Plc to Zalando SE and Logitech International SA have all suffered steep stock-market losses in Europe after their results in the past month. It’s a fact that makes companies with sky-high valuations look increasingly volatile, and shows that investors …

Bloomberg European stocks closed steady at a record, posting their biggest weekly gain in five months, as traders assessed a better-than-expected increase in US payrolls and positive earnings against delta variant risks. The Stoxx 600 Europe Index ended flat in London at a historical high, bringing the week’s gain to 1.8%. Banks were the best performers, with ING Groep NV …

Bloomberg Kenya’s shilling is on track for its longest stretch of weekly losses this year, despite the central bank’s efforts to prop up the currency, as concerns about a surge in Covid-19 infections spurred dollar buying by importers. The East African nation’s currency was trading little changed at 108.72 against the dollar by 9:30 am in the capital, Nairobi, poised …

Bloomberg A Boeing Co 737 Max 7 has arrived at the Shangai airport for flight tests by Chinese authorities, the Paper reported. Chinese aviation officials last month signalled they are open to conducting flight tests on the plane in a step towards lifting its grounding after more than two years. China was the first nation to ground the Max, acting …

Bloomberg Airbus SE has encountered issues with the production of its flagship narrow-body model, just as it begins ramping up jetliner build rates following coronavirus lockdowns. Customer Air Lease Corp said on an analyst call that some A321neo handovers due this year have been pushed back as Airbus struggles with pandemic and supply-chain issues. The lessor added in a filing …

Bloomberg Adidas AG fell the most in four months as investors looked past a modest increase in profit guidance and focused instead on weaker demand in China and factory shutdowns in Vietnam. While revenue in Europe and North America almost doubled in the second quarter, boosted by the phasing out of pandemic restrictions and a return of major sporting events, …

Bloomberg Amazon.com Inc — summoning its inner Oprah — will offer cash prizes of as much as $500,000 as well as cars and vacation packages to frontline employees who can prove they have been vaccinated against Covid-19. Unwilling so far to mandate vaccinations for its 1.3-million-strong workforce, the world’s largest online retailer is hoping a corporate lottery — called Max …

Bloomberg Cebu Air Inc, the largest Philippine budget carrier, said it refunded 7.7 billion pesos ($153 million) to customers, completing requests for reimbursements that were filed until June due to the pandemic. The airline processed 991,764 requests and continues to work with customers whose applications are still pending, Cebu Air said in a statement. Cebu Air in May raised $250 …