Bloomberg Prime Minister Justin Trudeau’s claims there isn’t a trade-off between Canada’s strict lockdowns and economic growth will be tested this week with the release of new output data. Analysts expect gross domestic product (GDP) shrinks by more than 5% last year, a middling result among advanced economies. The US, with far less restrictive pandemic measures last year, shrinks by ...

Bloomberg Roblox Corp., the kid-focused gaming company that’s planning to go public this month, warned investors that the booming user growth it enjoyed during the pandemic is about to disappear. The total hours that users spend engaged with the gaming platform could drop by as much as 11% in the second quarter, Roblox said in a statement. Though the number ...

Bloomberg Chancellor Angela Merkel backed a relaxation of coronavirus restrictions despite a stubbornly high infection rate, acknowledging that many Germans are weary of curbs on daily life after months of lockdown. The German leader had been pushing back against increasingly insistent calls for a swifter loosening, but told lawmakers from her conservative bloc that “easing is necessary.” She explained her ...

Bloomberg Stocks rise with US equity futures on Wednesday as concerns over valuations eased and the focus turned back to the stimulus-fuelled recovery from the pandemic. Treasury yields edged higher. The Stoxx 600 Index climbed for a third straight session, with UK shares outperforming after UK Chancellor of the Exchequer Rishi Sunak extended furlough pay for workers ahead of presenting ...

Bloomberg China’s defense and technology sectors may offer investor opportunities as the nation’s top political meeting starts this week, which could help inject fresh impetus into the country’s equities. Measures to help achieve President Xi Jinping’s pledge of a carbon neutral economy by 2060 could be released at the meeting which begins on Friday, according to brokerages including Guotai Junan ...

DUBAI / WAM Dubai Culture and Arts Authority announced that it will soon grant cultural visas to 1,000 creators and artists from across the world. The first initiative of its kind in the world, the cultural visa launched in 2019 by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of ...

Bloomberg Oil held steady just days before many of the world’s largest producer nations meet to discuss how much crude they should supply in the coming months. Crude futures in New York were trading near $61 a barrel. Opec and its allies will meet on Thursday to decide if they will ease supply curbs further after Saudi cuts pushed the ...

KHARTOUM / WAM Mariam Assadiq Al Mahdi, Sudanese Minister of Foreign Affairs, lauded the cooperation between the UAE and Sudan, stressing her country’s keenness to reinforce its relations with the UAE and other Gulf Cooperation Council countries. She made this statement during her meeting with a delegation from the Al Maktoum Foundation, led by Mirza Al Sayegh, Director of the ...

DUBAI / WAM The Islamic Affairs and Charitable Activities Department (IACAD) announced on Tuesday that all annual Ramadan tent permits in the Emirate of Dubai will be cancelled this year in compliance with government precautionary and preventive measures to stem the spread of Covid-19. Ahmed Darwish, Executive Director of Charitable Works at IACAD, clarified that that the decision to cancel ...

Abu Dhabi / WAM Etihad Airways, the UAE national airline, has signed a Memorandum of Understanding (MoU) with Hub71, Abu Dhabi’s global tech ecosystem, to support the expansion of entrepreneurs innovating in Abu Dhabi. The agreement makes Etihad the official airline partner of Hub71 which will offer more than 100 global startups within its tech community special rates and access ...