June, 2022

• 29 June

  Nato allies still seeking progress with Turkey on expansion

  

  Bloomberg Officials heading to the Nato summit in Madrid are holding out hope of persuading Turkey to allow Finland and Sweden to advance their membership applications. US President Joe Biden told his Turkish counterpart, Recep Tayyip Erdogan, in a phone call on Tuesday morning that he’s looking forward to speaking to him in the Spanish capital, the White House said. ...

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• 29 June

  UK would have to pay $17b for public sector 7% bump

  

  Bloomberg The UK government would have to pay £14 billion pounds ($17 billion) a year to give public-sector workers the 7 percent pay raise that some of them are demanding. The figures, from an analysis by Bloomberg Economics, shed light on the options Prime Minister Boris Johnson is facing to defuse the biggest round of strikes in decades. Rail workers ...

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• 29 June

  Millions in California to get up to $1,050 in ‘inflation relief’

  

    Bloomberg California Governor Gavin Newsom announced that he had reached an agreement with state legislators on a $17 billion “inflation relief package.” “Millions of Californians will be receiving up to $1,050 as part of a new middle class tax rebate. That’s more money in your pocket to help you fill your gas tank and put food on the table,” ...

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• 29 June

  VW sells Siemens minority stake in Electrify America

  

    Bloomberg Volkswagen AG is selling a 10% stake in Electrify America, the electric-car charging subsidiary it established in the wake of its diesel-emissions scandal, to Siemens AG, according to people familiar with the matter. The partners are also set to announce an investment of $450 million in the network, likely to be announced later Tuesday, they said, declining to ...

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• 29 June

  Euro area consumer confidence dips in June

    Bloomberg Euro area consumer confidence approached its lowest level since the early months of the pandemic as soaring inflation weighs on purchasing power and households fret about the knock-on effects of Russia’s war in Ukraine. A monthly gauge from the European Commission showed a reading of -23.6 in June — down from -21.1 in May. and worse than the ...

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• 28 June

  Stocks rise as China cuts quarantine; dollar steady

  

    Bloomberg Stocks rise on Tuesday after China softened its strict Covid-19 protocols, easing investor concerns about global growth. Mining and energy shares led gains in Europe’s Stoxx 600, while US equity futures advanced about 0.6%. An Asian equity index erased losses to climb for a fourth session. China cut in half the time new arrivals must spend in isolation, ...

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• 28 June

  Coinbase declines as Goldman downgrades to sell after 75% rout

  

  Bloomberg Goldman Sachs Group analysts downgraded Coinbase Global to a sell rating as the crypto winter continues to take its toll on the struggling digital currency exchange. Shares of the firm slumped 11% to $55.96, extending their decline this year to 78% as Bitcoin trades at less than half its value from six months ago. Goldman analyst William Nance cited ...

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• 28 June

  Pandemic cost culture up to 40% in lost revenue: Unesco

  

  ABU DHABI / WAM The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) and the Unesco on Monday launched the co-publication “Culture in Times of Covid-19: Resilience, Recovery and Revival”, giving a global overview of the impact of the pandemic on the culture sector since March 2020, and outlining directions for its revival. Examining the impact of ...

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• 28 June

  UAE’s ‘national initiative’ to produce 80 tonnes of wheat

    Abu Dhabi / WAM “Emirates Wheat”, which was launched in 2017, is one of the leading initiatives in the agriculture sector and involves 170 farms, representing most of the national efforts to achieve food security by producing over 80 tonnes of wheat. The national initiative, headed by farmer Humaid Obaid Al Zaabi, aims to boost country’s wheat production, especially ...

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• 28 June

  W Solar to invest in Libya renewable energy project

  

    Abu Dhabi / WAM “W Solar” Investment, an investment company in the renewables energy industry and a subsidiary of Alpha Dhabi Holding, on Monday signed a memorandum of understanding with the General Electricity Company of Libya (GECOL) to develop a strategic long-term partnership in the renewable energy sector in Libya. Under this MoU, “W Solar” will invest in green ...

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