ABU DHABI / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan met with teachers from across the UAE on the occasion of World Teachers’ Day, and commended the vital role they play in nurturing and inspiring young people. His Highness received the delegation at Qasr Al Bahr in Abu Dhabi, and highlighted the importance of teachers in helping future generations ...

BLOOMBERG A retreat in European stocks deepened on Wednesday, sending the benchmark index to the lowest in more than six months as bond yields climbed on worries of higher-for-longer interest rates. The Stoxx 600 was down 0.2% in London, sliding for a third straight session as the yield on 30-year Treasuries hit 5% for the first time since 2007. In ...

BLOOMBERG The selloff in US Treasuries extended into a third straight day, with 30-year yields touching 5% for the first time since 2007 and sending global financial markets into a tailspin. As conviction grew that US interest rates could rise further from current 22-year highs, 10-year Treasury yields also climbed closer to the key 5% threshold. That pushed the MSCI ...

BLOOMBERG Retailers ranging from Tesco Plc to Burberry Group Plc have called for immediate action from the UK government to tackle the rise in shoplifting that’s emerged during the nation’s cost-of-living crisis. Almost 90 retail chiefs have signed a letter to Home Secretary Suella Braverman asking for the government to create a standalone offense of assaulting a retail worker, along ...

BLOOMBERG Air France KLM’s plan to buy a stake in troubled Scandinavian carrier SAS AB gives the long-overdue consolidation of European airlines a jolt as more regional operators come under the control of three big groups. The Franco-Dutch carrier said that it will invest as much as $144.5 million for 19.9% of SAS, with the option to take a controlling ...

BLOOMBERG Tesco Plc lifted its profit forecast as it attracted shoppers by keeping a tight lid on food prices and its own costs. Britain’s biggest grocer now expects to deliver as much as £2.7 billion ($3.3 billion) in adjusted operating profit this year from its retail business, compared with previous guidance of flat profit. The stock rose 3.2% on Wednesday. ...

BLOOMBERG Delta Air Lines Inc says some of its aircraft have flown with engines using improperly documented components, a disclosure indicating the extent to which parts linked to a British distributor have been sold globally. Suspect components were found on only one engine of the planes that were flown, a company spokesman said, declining to quantify exactly how many aircraft ...

ABU DHABI / WAM The Ministry of Industry and Advanced Technology (MoIAT) has announced the adoption of the new Green ICV criteria and bonus within the National In Country Value (ICV) Programme to encourage sustainability practices throughout various supply chains. Announced at Adipec 2023, the criteria enables companies to obtain bonus ICV points if they commit to implementing sustainability-related standards ...

ABU DHABI / WAM ADNOC is to trial the use of repurposed electric vehicle batteries to decarbonise its remote production operations and reduce costs. The pilot, run in partnership with German startup Power I.D., will see electric vehicle batteries deployed that would have otherwise been disposed of and assembled into a large-scale Battery Energy Storage System. The system, which will ...

ABU DHABI / WAM Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, has affirmed the need for national oil companies to embrace sustainable practices by integrating renewable energy sources, such as solar and wind power, into their operations. He made this statement during a session held during the Abu Dhabi International Petroleum Exhibition and Conference (Adipec) 2023, where ...