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Bloomberg Tesla Inc may have to raise wages in Germany if it wants to achieve its goal of hiring thousands of additional workers for its factory near Berlin, according to the country’s leading automotive labour union. IG Metall is getting reports from Tesla staff at the Gruenheide site who are complaining about inadequate or unequal wages, the union said. Skilled ...
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July, 2022
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5 July
Foreign investors drained $40b from emerging Asia last quarter
Bloomberg Some of Asia’s biggest stock and bond markets outside China are seeing greater outflows than in previous market crises, and the process may just be getting underway. Global funds offloaded a net $40 billion of equities across seven regional markets last quarter, exceeding any three-month period characterised by systemic stresses since 2007. The steepest selling was in tech-heavy ...
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5 July
Emerging markets are well-positioned to stare down a US recession
Bloomberg Emerging markets are well positioned to stare down a US recession and may even be able to lure investors their way. That’s the message from money managers including JPMorgan Chase & Co. and Deutsche Bank AG even as fears of a contraction in the world’s largest economy spark a dash into Treasuries and other haven assets. Beyond the ...
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4 July
India’s windfall fuel tax can bring in $12.7b: PTI
Bloomberg India’s windfall tax on domestic crude oil production and fuel exports may help the government bring in 1 trillion rupees ($12.7 billion) in revenues, Press Trust of India (PTI) reported. The federal government’s latest levies could help it recoup most of the revenues lost from fuel excise duty cuts announced in May this year, according to the news agency, citing ...
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4 July
UAE expresses solidarity to Iran over earthquake victims
ABU DHABI / WAM The UAE has expressed its sincere condolences and solidarity with the Islamic Republic of Iran over the earthquake that struck the south of the country, and caused dozens of casualties. The Ministry of Foreign Affairs and International Cooperation (MoFAIC) expressed its sincere condolences to the government of Iran and its people, and to the families ...
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4 July
Iraq’s revenues from oil sales hit $11bn in May
Baghdad / WAM The Iraqi Ministry of Oil announced that the revenues achieved during the month of May amounted to more than $11 billion. A statement by the ministry, received by the Iraqi News Agency (INA), stated that “the Ministry of Oil announces the total exports and revenues achieved for the month of May, according to the preliminary statistics ...
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4 July
Dewa adds 700MW to Dubai’s total energy production capacity
Dubai / WAM Dubai Electricity and Water Authority (Dewa) announced that the total production capacity of energy has reached 14,117 megawatts (MW) after adding 700MW. This includes 600MW from the Hassyan Power Complex, which runs on natural gas, and 100 MW from photovoltaic (PV) solar panels at the 5th phase of the Mohammed bin Rashid Al Maktoum Solar Park, ...
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4 July
Dubai’s Sea Customs makes 120 seizures
DUBAI / WAM The Sea Customs Centres Management, one of Dubai Customs’ departments, carried out 61,852 inspections and 120 seizures in the first quarter of 2022. In 2021, the Management carried out 150,541 inspections and 248 seizures. “We upgraded and developed our inspection systems in our customs centres to achieve the best results in confronting attempts to smuggle prohibited ...
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4 July
UAE okays 22 policies to boost circular economy transition
ABU DHABI / WAM The UAE Circular Economy Council convened its second meeting of 2022, presided over by Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment. The council approved 22 policies proposed by its subsidiary, the Circular Economy Policies Committee, that focus on accelerating the implementation of the circular economy model in the UAE in four ...
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4 July
Dewa’s energy production capacity reaches 14,117MW
Dubai / WAM Dubai Electricity and Water Authority (Dewa) announced that the total production capacity of energy has reached 14,117 megawatts (MW) after adding 700MW. This includes 600MW from the Hassyan Power Complex, which runs on natural gas, and 100 MW from photovoltaic (PV) solar panels at the 5th phase of the Mohammed bin Rashid Al Maktoum Solar Park, ...
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