November, 2022

• 12 November

  Jakarta seeks ban on Myanmar junta beyond Asean summits

    Bloomberg Indonesian President Joko Widodo has proposed to leaders of the Association of Southeast Asian Nations that representatives of the Myanmar military be barred from the bloc’s functions beyond big ticket summits. Leaders belonging to the 10 nation grouping debated the issue “at length” he said, in the strongest sign yet that some Asean members are growing frustrated by ...

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• 12 November

  Firms take desperate steps to tackle UK’s staff shortage

  

    Bloomberg British businesses are taking creative and unusual steps to attract staff, amid a notably tight labour market. One of celebrity chef Raymond Blanc’s restaurants is subsidising a bus service. Le Manoir aux Quat’Saisons, which holds two Michelin stars, contributes to the transport link, helping them reach workers who live several miles away in Oxford. Supermarket chain J Sainsbury ...

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• 12 November

  Musk’s first email to Twitter employees ends remote work

  

  Bloomberg New Twitter Inc. owner Elon Musk emailed his workers for the first time to prepare them for “difficult times ahead” and ban remote work unless he personally approved it. Musk said there was “no way to sugarcoat the message” about the economic outlook and how it will affect an advertising-dependent company like Twitter, according to the email reviewed by ...

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• 12 November

  Apple hires Facebook veteran as information chief after departures

  

    Bloomberg Apple Inc has hired a startup founder and former Facebook executive to run its information systems group after departures in that department. Timothy Campos will lead the Information Systems and Technology department, better known as IS&T, which handles the infrastructure behind Apple’s online services, customer support and website. Apple refers to the operation as its “nerve center” because ...

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• 11 November

  Meta to cut 11,000 jobs, Zuckerberg says ‘I got this wrong’

  

    Bloomberg Meta Platforms Inc. Chief Executive Officer Mark Zuckerberg said the company will cut more than 11,000 jobs in the first major round of layoffs in the social media giant’s history. The reductions, equal to about 13% of the workforce, were disclosed in a statement. The company will also extend its hiring freeze through the first quarter. “I want ...

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• 11 November

  Italy to boost pension spending by 7.3%

    Bloomberg Italy’s pensions will rise by 7.3% from next year to keep up with rising inflation, Finance Minister Giancarlo Giorgetti said. The boost to retirement payments, which is automatic in contrast to wage hikes, will bring relief to households hit by soaring energy costs in the European Union’s third-biggest economy but may further complicate the European Central Bank’s efforts ...

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• 11 November

  Stocks in India climb to record on robust earnings, global rally

  

  Bloomberg Indian stocks jumped to an all-time high as strong corporate earnings and a return of foreign investors bolsters one of the world’s top-performing major markets of the year. Joining a global rally sparked by a softer-than-expected US inflation reading, the S&P BSE Sensex Index jumped 2% to close at 61,795.04 on Friday, eclipsing a previous record reached on October ...

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• 11 November

  Chinese stocks in US rise on watershed moment for Covid Zero policy

  

  Bloomberg Chinese stocks listed in the US soared after Beijing made significant changes to the stringent Covid Zero policy that has bogged down the economy and dented appetite for the country’s equities. The KraneShares CSI China Internet Fund, an exchange-traded product holding more than 40 Chinese stocks, jumped 5.1% in premarket trading. Stocks that are most sensitive to an economic ...

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• 11 November

  UAE President, King of Bahrain discuss enhancing cooperation

  

  Sakhir / WAM   President His Highness Sheikh Mohamed bin Zayed Al Nahyan on Thursday discussed with His Majesty King Hamad bin Isa Al Khalifa of Bahrain the deep-rooted ties between their countries and ways to enhance their cooperation and expand its scope to advance their mutual interests. His Majesty King Hamad welcomed His Highness Sheikh Mohamed, wishing him continued good ...

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• 11 November

  Adio, Noon to build UAE’s largest fulfilment centre in Abu Dhabi

  

  Abu Dhabi / WAM Noon.com announced that it will build the UAE’s largest fulfilment centre in Abu Dhabi as part of an anchor investment into the emirate’s fast-growing e-commerce space. The 252,000 square metres mega facility is the result of a partnership between the Abu Dhabi Investment Office (Adio) and Noon, and will generate thousands of jobs and fuel the ...

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