Bloomberg European companies are pushing up prices as supply disruptions lift costs and hamper their ability to match surging demand, according to executives gathered for a conference this weekend in southern France. The bosses of industrial firms, including tire company Michelin and construction materials producer Saint-Gobain, say they’re facing scarce supplies, transport bottlenecks and staff shortages in the wake of ...

Bloomberg Shares of Chinese technology companies slid in Hong Kong as investors stepped back to gauge the impact from Beijing’s move to block ride-hailing giant Didi Chuxing from app stores due to data security issues. Tencent Holdings Ltd, which has a stake in Didi, slumped 3.6% in Hong Kong to erase its year-to-date gain. Meituan, ordered by China’s antitrust watchdog ...

Bloomberg As stocks around the world continue to smash one record after another, some of the world’s biggest money managers have a simple message: Get used to it. The likes of BlackRock Inc, State Street Global Markets, UBS Asset Management and JPMorgan Asset Management expect equity markets to keep rising in the second half of the year, with many investors ...

ABU DHABI / WAM The World Health Organisation’s EMRO Regional Subcommittee on Polio Eradication and Outbreaks commended the unwavering support of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, in working to eradicate polio and the funding he provides for this work. The committee also praised ...

Abu Dhabi / WAM The Ministry of Energy and Infrastructure has affirmed that the UAE is a longstanding and committed member of Opec, and Opec+, and have been a reliable partner in the current Opec+ agreement, delivering compliance of 103% throughout its 2-year term. In a statement on Sunday, the ministry said that the “UAE believes that the market needs ...

Abu Dhabi / WAM The United Arab Emirates leads the world, with enough vaccinations to cover 72.1% of its population and has overtaken Seychelles to become the world’s most vaccinated nation, according to Bloomberg’s Vaccine Tracker. The UAE has so far administered 15.5 million doses, enough to cover 72.1 percent of its population based on a two-dose regimen. The UAE ...

ABU DHABI / WAM Aldar Properties signed a AED300 million facility with HSBC that links the interest margin payable under the facility to achievement of sustainability targets. The agreement sees Aldar become the first real estate company in the Middle East and North Africa (Mena) region to enter into this type of financing. The innovative five-year term sustainability-linked loan includes ...

Abu Dhabi / WAM Air Arabia Abu Dhabi, the capital’s first low-cost carrier, has expanded its international route network with a new service to Baku, Azerbaijan, with flights starting July 15. Customers can now book their direct flights between Abu Dhabi and Baku by visiting Air Arabia’s website, by calling the call centre or through travel agencies. Since Covid-19 outbreak, ...

Abu Dhabi / WAM Most economic and commercial activities in the UAE showed positive signs in May, recording their best performances since the start of the Covid-19 pandemic and highlighting the solid recovery of key sectors that support the national economy. Registered activities in May suggested a growing demand, amidst signs suggesting that demand will further increase in the coming ...

Dubai / WAM The Commercial Compliance & Consumer Protection (CCCP) Sector of Dubai Economy revealed that it recorded a compliance rate of 97.7 percent with Covid-19 precautionary guidelines among commercial establishments in H1 2021. As part of the stringent implementation of globally-benchmarked preventive measures, 43 commercial establishments were closed, 1,678 were fined and 282 were issued warnings during the first ...