Bloomberg The UK Chancellor of the Exchequer Rishi Sunak was handed a major boost before Wednesday’s Spring Statement, as data showed the budget deficit was running 26 billion pounds ($34 billion) below official forecasts in the first 11 months of the fiscal year. The undershoot, which may rise even further when full-year figures are published next month, gives Sunak some ...

  Bloomberg Spain will announce a series of tax breaks later this month to mitigate the economic consequences of the war in Ukraine, Prime Minister Pedro Sanchez said. “The main message is that the government is going to do everything in its power to cushion the consequences of the war,” Sanchez said in an interview with La Sexta television channel. ...

  Bloomberg Swiss watch exports jumped 25% in February as US buyers kept driving a post-pandemic rebound in demand for pricey timepieces. The US remained the top market with a 15% share while China accounted for almost 12% of the nearly 2 billion francs ($2.1 billion) in total monthly exports, the Federation of the Swiss Watch Industry said. American consumers ...

  Bloomberg BMW AG said operating returns for its automotive business will remain robust this year, even as the war in Ukraine and a global semiconductor shortage weigh on production. The company lowered its estimate for automaking returns to between 7% and 9% for 2022, noting that the target range would have been 8% to 10% were it not for ...

  Bloomberg Workers in Europe’s biggest economies are among the least likely to be seeking pay rises in the next year, despite feeling the some of the biggest pressures from rising prices. That’s the conclusion of a global survey carried out by YouGov Plc and shared exclusively with Bloomberg News. It may allay concerns at central banks about the potential ...

  Bloomberg A growing number of UK companies is ditching a home listing to go abroad, after a series of high-profile flops cast doubt on London’s campaign to attract startups and initial public offerings (IPOs). The UK is heading for its worst first quarter for IPOs since 2009, according to data compiled by Bloomberg. The war in Ukraine and soaring ...

  Bloomberg Stocks climbed with US equity futures as a selloff in bonds deepened on Tuesday on Federal Reserve Chair Jerome Powell’s signals the central bank will take more aggressive measures to clamp down on inflation. The Stoxx Europe 600 Index marched higher, led by banks and cyclical stocks like automakers. Futures on the S&P 500 and Nasdaq 100 flipped ...

  Dubai / WAM It is not just superpowers but all countries in the world require a place in the global order; and countries such as Canada and the UAE have a key role in the global arena, the Head of State of Canada told the Emirates News Agency (WAM). “It’s very important to recognise that countries like Canada and ...

  Abu Dhabi / WAM Abu Dhabi National Oil Company (Adnoc) announced on Monday that it has signed new memorandum of understanding (MoU) and joint study agreements (JSA) with counterparts in Germany in order to accelerate and deepen collaboration in clean hydrogen. The agreements were announced during the visit of Dr Robert Habeck, German Federal Minister for Economic Affairs and ...

  Abu Dhabi / WAM Water projects prominently figure in developmental initiatives of Abu Dhabi Fund for Development (ADFD). Estimated at AED2 billion, these initiatives collectively benefited 18 countries while also powering other sectors such as agriculture, industry and energy. The emphasis on water reflects ADFD’s commitment to the world to support efforts to achieve the UN’s Sustainable Development Goals, ...