Bloomberg Intel Corp’s global push to increase capacity will include adding facilities in France and Italy, as well as putting a major production site in Germany. France will be home to a research and design center, and Italy will be the location of a test and assembly factory, according to the people, who asked not to be identified because ...

  Bloomberg Calm has finally come to a stock market that for weeks had been swinging violently. Bulls who hung tough are ending the year on firm footing after a frenzied off-loading of risk by the professional speculators. December’s big sellers were hedge funds, which, chastened by wrong-way bets on high-flying software companies, spent the month slashing high-momentum trades. It ...

  Bloomberg The winning streak for Indian stocks is losing momentum as sentiment sours on the prospect of tighter monetary policy and smaller stimulus spending in the coming year. India’s benchmark S&P BSE Sensex has slumped 3.6% since the end of September, halting a rally that ran for six straight quarters and doubled the index’s value. Since reaching a record ...

  Abu Dhabi / WAM The Abu Dhabi Labour Court has successfully secured the payment of the financial dues of 2,794 workers in 4 companies, amounting to a total of AED40 million. The court took prompt legal measures and ended the disputes by moving directly to the workers’ place of residence onboard the mobile court, to hand over their financial ...

  Bloomberg Oil settled above $73 a barrel for the first time in four weeks as signs that the omicron Covid-19 variant may be less severe than previous strains eased concerns about a demand hit. West Texas Intermediate futures in New York closed 1.4% higher amid thinning liquidity heading into the holiday period. A UK health agency said omicron was ...

  ABU DHABI / WAM Etihad Airways and ADQ announced a proposed transaction that will support the ongoing transformation of Etihad Airways and the future growth of the civil aviation sector in Abu Dhabi. As part of the proposed transaction, a number of Etihad’s businesses providing airline support services will become part of a new ADQ aviation company. Once the ...

Abu Dhabi / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted 339,500 additional Covid-19 tests over the past 24 hours, using state-of-the-art medical testing equipment. The ministry also noted that an additional 585 individuals had fully recovered from Covid-19, bringing the total number of recoveries to 740,707. MoHAP announced 1,621 new coronavirus cases, bringing the total ...

  Abu Dhabi / WAM The Federal Tax Authority (FTA) has called on tax registrants to benefit from the redetermination of administrative penalties to be equal to 30 percent of the total unpaid penalties. The FTA noted that few days are left to benefit from the redetermination before December 31, in accordance with Cabinet Decision No. 49 of 2021, Amending ...

  Bloomberg A Russian court fined Alphabet Inc’s Google 7.2 billion rubles ($98 million) and Meta Platforms Inc 2 billion rubles for failing to remove banned content, largest such penalties yet, as the authorities escalate a crackdown on foreign technology companies. The fines were due to the companies’ repeated failure to comply with orders to take down content and based ...

Dubai / Gulf Time The Mohammed Bin Rashid University of Medicine and Health Sciences (MBRU) has welcomed the UAE government’s landmark decision to embrace a new work week cycle, announcing that it will begin operating on a Saturday-Sunday weekend mode from January 1. The decision to adapt to the new schedule was taken after members of the MBRU family worked ...