September, 2022

• 16 September

  Modi’s outreach to Putin risks putting India in US crosshairs

  

  Bloomberg As Indian Prime Minister Narendra Modi meets Russia’s Vladimir Putin and attends a summit with China’s Xi Jinping on Friday, he’ll need to avoid looking too chummy with the US’s two top adversaries. Modi’s face-to-face meeting with Putin will take place Friday in Uzbekistan, where a host of leaders are gathering for a summit of the Chinese-founded Shanghai Cooperation ...

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• 16 September

  Sweden’s opposition prepares power shift

  

  Bloomberg Swedish right-wing opposition parties are stepping up negotiations on forming a new government, after Prime Minister Magdalena Andersson tendered her resignation on Thursday. The Social Democrat leader has conceded defeat in Sunday’s election, and Moderate Party leader Ulf Kristersson will now try to forge an agreement with three parties that backed his candidacy. They include the anti-immigrant Sweden Democrats, ...

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• 16 September

  US railroads, unions reach tentative deal to avert strike

  

    Bloomberg US railroads and unions reached a tentative deal on Thursday, a breakthrough that looks to avert a labour disruption that risked adding supply-chain strains to the world’s largest economy. After 20 straight hours in the latest round of talks — which included President Joe Biden and other administration officials — the companies and union negotiators reached a preliminary ...

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• 16 September

  Microsoft’s $69b new deal in UK’s crosshairs

    Bloomberg Microsoft Corp’s planned $69 billion purchase of computer games developer Activision Blizzard Inc faces an in-depth probe in the UK after regulators said the deal could hamper competition. The Competition and Markets Authority (CMA) said it decided to kickstart a longer review after Microsoft turned down the chance to offer remedies to address its concerns. “Microsoft informed the ...

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• 16 September

  McDonald’s to move innovation centre, jobs to Chicago

  

  Bloomberg McDonald’s Corp is moving its innovation centre and about 100 jobs into central Chicago — a big bet on the city that comes as other high-profile companies flee the area’s high taxes and crime. The world’s biggest restaurant company by sales said it’s relocating the workers from Romeoville, a Chicago suburb, to the company’s headquarters in the city. The ...

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• 16 September

  Futures decline, yields climb as traders await policy data

  

  Bloomberg US futures declined as investor sentiment swung between hopes that inflation has peaked and concern that large interest-rate hikes by the Federal Reserve will hamper economic growth. Treasury yields rose and the dollar gained. Contracts on the S&P 500 and Nasdaq 100 fluctuated before turning lower, with the latter underperforming after the underlying gauges posted modest rallies. European stocks ...

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• 16 September

  Bitcoin lingers near $20,000; Ether extends slide before ‘Merge’

  

    Bloomberg Cryptocurrencies were mixed a day after posting sharp losses triggered by hardening expectations of restrictive US monetary policy. Bitcoin fell about 1.5%to $19,937 in New York after a near-10% plunge this week. Ether, the native token of Ethereum, decline for a third day, dropping about 1% to $1,597. Stocks, bonds and digital tokens plunged after rising US inflation ...

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• 15 September

  FTA rolls out complete digital VAT-refund scheme for tourists

  

    DUBAI / WAM The Federal Tax Authority (FTA), in partnership with Planet Tax Free,on Wednesday launched a 100 percent digital VAT-refund scheme for tourists. The announcement was made at a joint press conference in presence of Khalid Ali Al Bustani, FTA Director-General, and Eyad Al Kourdi, General Manager of Planet Tax Free, the operator of the tax refund system ...

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• 15 September

  AD Ports buys majority stakes in Egypt’s maritime companies

  

    ABU DHABI / WAM AD Ports Group completed the acquisition of a 70 percent equity stake in Transmar International Shipping Company (Transmar) and Transcargo International S.A.E. (TCI). The total purchase consideration (Enterprise Value) for 70% shareholding amounts to AED514 million (US$140 million). It is the first international acquisition realised by AD Ports Group. The value-accretive acquisitions of the two ...

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• 15 September

  Abu Dhabi Awards launches ‘Young Ambassadors’ program

    ABU DHABI / WAM The Abu Dhabi Awards has launched the ‘Abu Dhabi Awards Young Ambassadors’ programme, in collaboration with the Emirati Children’s Parliament and the Children Advisory Council of the Supreme Council of Motherhood and Childhood. Running its first edition, the programme aligns with the Abu Dhabi Awards’ core value of inclusion by engaging all members of the ...

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