Bloomberg US consumer sentiment remained weak in late August amid ongoing concerns over inflation and the coronavirus pandemic. The University of Michigan’s final sentiment index falls to a near-decade low of 70.3 during the month from 81.2 in July, data showed. The figure was in line with the preliminary reading and just below the median estimate of 70.8 in a ...

Bloomberg Polish inflation surged to its highest level in two decades, piling pressure on policy makers to ditch their dovish stance and increase interest rates in the coming months. Consumer prices rise 5.4% from a year earlier in August, after a 5% increase in July, according to data. That exceeded the 5.1% median estimate in a Bloomberg survey. The Monetary ...

Bloomberg Euro-area inflation jumped to the highest in a decade in August, testing policy makers’ insistence that a post-crisis spike in cost pressures should prove temporary. Consumer prices rise 3%, exceeding the predictions of all 37 economists in a Bloomberg survey. A measure of core inflation that strips out volatile items such as energy and food reached 1.6%, the highest ...

Bloomberg Warren Buffett shocked Tokyo markets last August with a $6 billion bet on the country’s five largest trading houses. One year on, his investments are paying off. Amid the surge in commodity prices, the collective value of Berkshire Hathaway Inc’s stakes in the five “sogo shosha” has risen by about $2 billion. That gain of more than 30% has ...

Bloomberg Stocks climbed, led by some of the world’s largest technology companies. Traders also assessed the impacts from Tropical Storm Ida, which sank insurers and energy firms, while pushing gasoline higher. The S&P 500 notched its 12th all-time high in August, and the Nasdaq 100 rallied as Apple Inc’s market value topped $2.5 trillion. Robinhood Markets and Charles Schwab Corp. ...

ABU DHABI / WAM Zaki Nusseibeh, Cultural Advisor to the UAE President and Member of the Board of Trustees of the Anwar Gargash Diplomatic Academy (AGDA) offered his greetings to the new cohort of Emirati students and future diplomats during the Academy’s orientation on Monday. The UAE’s leading diplomatic centre welcomed more than 60 students to its three programmes which ...

ABU DHABI / WAM President HH Sheikh Khalifa bin Zayed Al Nahyan has conferred the Medal of Independence of the First Order on Boukary Sidibe, Ambassador of Mali to the UAE, on the occasion of the end of his tenure in the country. Sheikh Shakhbout bin Nahyan bin Mubarak Al Nahyan, Minister of State, presented Ambassador Al Sidibe with the ...

NEW DELHI / WAM India’s discussions for concluding a Free Trade Agreement (FTA) with the GCC are “progressing fast”, the Minister for Commerce, Industry and Consumer Affairs, Piyush Goyal, said. Addressing a large cross-section of India’s business through the platform of the Jain International Trade Organisation, Goyal specifically cited the UAE as among the countries with which his Ministry is ...

ABU DHABI / WAM The Global Manufacturing and Industrialisation Summit (GMIS) and Etisalat have announced a partnership to accelerate the deployment of the fifth generation of wireless networks (5G) to promote digital transformation both in the UAE and globally. As a strategic partner to GMIS, Etisalat will share best practices from its experience in rolling 5G communication networks andoffering advanced ...

Bloomberg US gasoline futures jumped after Hurricane Ida barreled ashore in Louisiana, disrupting processing facilities. Oil reversed early gains as local rigs may have escaped significant damage and the Opec+ producers’ cartel is expected on Wednesday to endorse a supply increase. Gasoline for October spiked more than 4% in New York before paring its advance, while West Texas Intermediate crude ...