Bloomberg Swedish inflation accelerated more than expected in November to the highest level in almost 28 years, testing the central bank’s patience for a price surge it believes to be largely transitory. The Riksbank’s target measure, CPIF, stood at 3.6% last month, Statistics Sweden said. It is the highest since December 1993, just over a year before the inflation ...

  Bloomberg BMW AG signed a long-term deal to secure semiconductors for in-car lighting systems after a global shortage of the components led to shutdowns at some of its factories. The automaker said it signed an agreement with Inova Semiconductors and Globalfoundries Inc., guaranteeing the supply of “several million” chips per year. The components will provide controls for ambient lighting ...

  Bloomberg France is imposing tougher rules on people arriving from the UK, including a requirement to self-isolate, to slow the spread of Covid-19’s omicron variant. The measures are introduced after new daily cases in the UK rise to a record. The rise in infections is hitting economic activity across the euro area. Restrictions in the services sector halted recovery ...

  Bloomberg Euro area economic activity slowed as rising coronavirus cases hurt service providers to offset an improvement in manufacturing output. Inflation pressure eased a little. A composite gauge for both sectors fall to 53.4 in December from 55.4 the previous month, according to a survey of purchasing managers by IHS Markit. Services activity grew at its weakest since April ...

  Bloomberg Intel Corp is spending $7.1 billion on new chip packaging facilities in Malaysia, a major investment to ramp up its global footprint and address a crippling global chip shortage it expects to persist until 2023. The company is earmarking more than 30 billion ringgit towards expanding its capacity in the country, Chief Executive Officer Pat Gelsinger told reporters. ...

  Bloomberg Oppo took the wraps off a foldable smartphone that’s more than $500 cheaper than Samsung Electronics Co’s Galaxy Fold, launching its maiden attempt to stake out a spot in the nascent category. The Oppo Find N sports a 7.1-inch inner display co-developed with its Korean rival and an exterior 5.5-inch screen. It will start at $1,250 in China ...

  Bloomberg Tech giants such as Google and Facebook face major restrictions on the way they handle content after a committee of European Union (EU) lawmakers proposed expanding measures to protect consumers online. New regulations would limit the targeting of ads to minors and completely ban so-called “dark patterns,” where platforms push people to consent to being tracked online, according ...

Bloomberg Yamaha Motor Corp is set to unveil an electric scooter in key markets next year as Japanese motorcycle manufacturer seeks to deliver greener products. Yamaha will start offering small EV scooters in Europe, and lease medium-sized bikes in Europe, Japan, China, Malaysia, Indonesia and Thailand starting from spring, CEO Yoshihiro Hidaka said. They are based on the company’s E01, E02 ...

  Abu Dhabi / WAM The Director-General of the International Atomic Energy Agency (IAEA), Rafael Mariano Grossi, has visited the Barakah Nuclear Energy Plant in the Al Dhafra region of Abu Dhabi emirate. Grossi was welcomed by Ambassador Hamad Al Kaabi, Permanent Representative of the UAE to the IAEA, Engineer Ali Al Hammadi, Chief Executive Officer of Nawah Energy Company, ...

  Dubai / WAM Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence, stressed that Emirati youth are the true wealth of the country, the builders of the future and the ambassadors of the UAE, who promote the values of tolerance, peace, coexistence and human fraternity globally. He made this statement during his meeting at Expo 2020 Dubai ...