Dubai / WAM The Mohammed bin Rashid Al Maktoum Humanitarian & Charity Establishment (MBRCH) has increased its donation to the 1 Billion Meals initiative, the region’s largest campaign for providing food support to the disadvantaged and underprivileged in 50 nations around the world, to AED31 million. They contributed an additional AED11 million on top of the AED20 million they ...

  Sharjah / WAM After a successful debut last year, Expo Centre Sharjah has announced that it will host the second edition of the ‘HIVE Furniture’ Show, the region’s first dedicated event focusing on big box retailers and wholesale traders, from June 13 to 16. The announcement was made on the sidelines of a signing ceremony between Saif Mohammed Al ...

  Bloomberg Mozambique plans to establish a sovereign wealth fund later this year as it prepares to start natural gas exports that the government says may generate $96 billion of revenue for the world’s third-poorest nation. The authorities are in the process of finalising draft legislation that will govern the management of the fund, Finance Minister Max Tonela said in ...

  Bloomberg Poland could be free of its Russian gas dependency by October when a new pipeline into the country is set for completion, according to Shell. A report commissioned by the energy major’s Polish unit said that “a complete abandonment of oil from Russia is possible, but the process will lead to higher prices for fuels and other products.” ...

Bloomberg Democratic Republic of Congo added Glencore Plc’s giant Mutanda copper and cobalt operation to a list of projects that could face renegotiation, just as the key battery metals mine is in the process of restarting. The move to probe Mutanda comes as Congo President Felix Tshisekedi increases his scrutiny of extractive deals made under his predecessor, Joseph Kabila. Congo ...

After winning a fourth consecutive general election in 1992, the UK Conservative Party chairman told then Prime Minister John Major that they had “stretched the elastic” as far as it would go. Soon after, it snapped. The Tories had been in power for 13 years at that point and had become arrogant and complacent. Major’s government became mired in sleaze ...

It’s painful when prices are soaring for everything, but there are at least two segments of the real estate market where inflation may actually be easing the transition to a new status quo. As the US embarks on its third year following the arrival of Covid-19, there are clear winners and losers arising from how the pandemic has changed the ...

  Savers are about to learn one painful and one surprising lesson about interest rates and banks. First, just because the Federal Reserve is raising rates doesn’t mean the rate investors earn on their cash will rise as much — if at all. In fact, the financial repression in the form of zero rates suffered for more than a dozen ...

  By most measures, the US economy is doing well — but not when it comes to inflation. Consumer prices rose 8.5% in the year to March. Wages are rising too, though not fast enough to keep up. That means financial stress for many families, especially those on fixed incomes or with meager savings. With midterm elections approaching, President Joe ...

Bloomberg US airlines are facing a pilot shortage that’s complicating efforts to ramp up flights, forcing them to step up training programs, recruit foreign pilots and even replace planes with buses. The industry needs to hire an average of 14,500 new pilots each year until 2030, according to federal labour statistics. But carriers say there’s no way they can bring ...