Bloomberg Hungary’s government is planning to pay out a pension bonus to offset the effects of high inflation for the elderly, Prime Minister Viktor Orban said during a weekly interview on state broadcaster Kossuth radio. “Inflation is higher than we would have presumed in our right mind at the beginning of the year,” Orban said. “We must correct pensions against ...

Bloomberg Tesla Inc delivered a better-than-expected 241,300 cars worldwide in the third quarter, a record for the electric-car maker led by Chief Executive Officer Elon Musk. Quarterly deliveries are one of the most closely watched indicators for Tesla. They are also widely seen as a barometer of consumer demand for electric vehicles amid a transition away from the internal combustion ...

Bloomberg European stocks and US index futures declined as concerns about slowing growth and persistently high inflation kept investors on the edge. Contracts on the S&P 500 Index fall 0.5% after the underlying gauge posted the biggest weekly loss since February. Iron ore to aluminum rallied as a global supply crunch turned commodities into a sellers’ market. West Texas Intermediate ...

Bloomberg Makers of vaccines and other coronavirus treatments dropped in Asia after Merck & Co. said its experimental pill cuts the risk of hospitalization and death from Covid-19 in half. The declines followed a slump in shares of BioNTech SE and Moderna Inc. in New York after Merck delivered the news on its drug, which is seen by some as ...

Bloomberg China Evergrande Group and its property-services arm were halted in Hong Kong stock trading amid a report that the developer agreed to sell a controlling stake in the unit to raise much-needed cash. Trading of Evergrande was suspended pending an announcement on a “major transaction,” the developer said in a stock exchange filing. Evergrande Property Services Group said it ...

Abu Dhabi / WAM Abu Dhabi National Oil Company (Adnoc) on Sunday listed Adnoc Drilling Company on the Abu Dhabi Securities Exchange (ADX). This initial public offering (IPO) will raise over $1.1 billion, making the Adnoc Drilling IPO the largest-ever ADX listing to date and will also be the first issuance on the newly inaugurated ADX premises. This important milestone will ...

ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan has sent a message of congratulations to President Frank-Walter Steinmeier of Germany, on the occasion of his country’s Unity Day, which is marked on October 3. HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai; and HH ...

Milan / WAM The UAE has expressed its strong support for progressive climate action linked to economic growth at Pre-COP 26 meetings in Milan, Italy, in the run up to the critical climate negotiations that will begin in Glasgow later this month. Shamma bint Suhail Faris Al Mazrui, Minister of State for Youth Affairs, led the UAE delegation to the ...

DUBAI / WAM The economic relations between Brazil and the United Arab Emirates have successfully overcome the negative impacts of the global pandemic, with bilateral trade witnessing a 33 percent increase in the first eight months of 2021, compared to the same period last year, according to a top Brazilian official. In an exclusive interview with Emirates News Agency (WAM), ...

Abu Dhabi / WAM The International Holding Company (IHC) has entered into a strategic partnership with ADQ, for a 50% stake in IHC subsidiary, Eltizam Asset Management Group, for a total cash contribution of AED 111.6 million through a new shares issuance. Founded in 2009, Eltizam is among the leading physical asset management companies in the UAE and broader GCC. ...