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Bloomberg The European Commission has asked EU member states to review Covid testing and sequencing procedures and to consider scaling them back up amid increased concern about the virus spreading from China. “If a new variant of the SARS-CoV2 virus appears — be it in China or in the EU — we must detect it early in order to ...
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December, 2022
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30 December
Spanish inflation slows in December
Bloomberg Spanish inflation slowed for a fifth straight month in December, decelerating by nearly half since mid-year as energy costs continue to decline in the euro zone’s fourth-largest economy. Consumer prices rose 5.6% from a year earlier, down from a 6.7% advance in November, the statistics institute said. That’s a better reading than the 5.8% median estimate in a ...
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30 December
Tesla poised for another delivery record despite demand concerns
Bloomberg Tesla Inc is expected to announce record quarterly deliveries in early January but that may not be enough to satisfy investors as the electric-vehicle leader grapples with inflation, rising interest rates, crimped production in China and concerns about softening demand. In an effort to clear inventory, Tesla offered a rare $7,500 discount to US customers who took delivery of ...
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30 December
After $18 trillion rout, global stocks face more hurdles in ’23
Bloomberg More tech tantrums. China’s Covid surge. And above all, no central banks riding to the rescue if things go wrong. Reeling from a record $18 trillion wipeout, global stocks must surmount all these hurdles and more if they are to escape a second straight year in the red. With a drop of more than 20% in 2022, the MSCI ...
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30 December
Meta, Coinbase among US stocks that hurt investors most in ’22
Bloomberg It’s been a year of historic selloffs for US equities. Marked by surging inflation, jumbo-sized interest rate hikes, a darkening outlook on corporate earnings and recession clouds, the S&P 500 Index has lost 21%, on pace for its biggest slump since 2008. From crypto to former pandemic winners and so-called Faang stocks, investors have been shaken out of ...
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30 December
MoHRE: AED72,000 fine for every Emirati not appointed
Dubai / WAM Starting from January 1, 2023, private sector companies with 50 employees or more that have not raised Emiratisation targets by 2 percent of skilled jobs in 2022, will be fined, the Ministry of Human Resources and Emiratisation (MoHRE) said on Thursday. The fines are AED6,000 per month, a total of AED72,000 annually, for each Emirati who ...
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30 December
Clean energy generates over 60% of power demand: Ewec
Abu Dhabi / WAM Emirates Water and Electricity Company (Ewec) has announced that, for the first time, over 60% of the total power demand was delivered from renewable and clean energy sources. The achievement was announced this month, with a generation of approximately 5.5 gigawatts (GW) of the total 8.6GW system power demand being supplied from Ewec’s solar power ...
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30 December
Construction industry add $186.8b to Arab region’s GDP
Abu Dhabi / WAM The Arab Monetary Fund (AMF) said that the Arab construction sector has recovered from the impacts of the Covid-19 pandemic, with its contribution to GDP in 2021 amounting to around $186.8 billion, up from $178.3 billion in 2020, or a 4.7% increase. The UAE and Saudi construction sectors contributed the most to their countries’ GDPs, with ...
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30 December
Adopting advanced tech, innovation top priority of govt, says Al Olama
Dubai / WAM Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, visited the Industrial Innovation Group (IIG), the world’s leader in security printing, biometric and global systems national entities and corporates headquarter in Sharjah, to explore the scientific research lab, new trends in advanced technology, and collaboration aspects. Al Olama said ...
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30 December
Adib launches region’s first tokenised payment system
Abu Dhabi / WAM Abu Dhabi Islamic Bank (Adib) on Thursday announced the launch of the region’s first tokenised, contactless payment methods through the options of clasp and ring “Adib Pay”, in partnership with token enablement service provider Tappy Technologies and global digital payments leader, Visa. Samih Awadhalla, Acting Global Head of Retail Banking at Adib, said, “Adib continues ...
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