June, 2022

• 2 June

  Germany’s inflation hits fresh record, piling pressure on ECB

  

  Bloomberg German inflation hit another all-time high, adding urgency to the European Central Bank’s exit from crisis-era stimulus after numbers from Spain also topped economists’ estimates. Driven by soaring energy and food costs, data showed consumer prices in the continent’s biggest economy jumped as much as 8.7% from a year ago in May. Analysts surveyed by Bloomberg predicted an 8.1% ...

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• 2 June

  US goods-trade gap shrinks most since 2009 as imports fall

  

    Bloomberg The US merchandise-trade deficit shrank in April by the most since 2009 as imports fell amid lockdowns in China while exports increased to a record. The shortfall narrowed by 15.9% to $105.9 billion last month, following a record level in March, Commerce Department data showed. The figures, which aren’t adjusted for inflation, compared with a median estimate for ...

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• 2 June

  Swedish economy contracts more than expected on trade, revisions

  

    Bloomberg Sweden’s economy shrank more than initially reported in the first quarter, partly as a result of sluggish levels of exports and upward revisions to statistics in previous years. Gross domestic product contracted 0.8% in the three months through March from the prior quarter, the first decline since the fourth quarter of 2020, Statistics Sweden said. That compares with ...

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• 2 June

  Danish unemployment hits 14 year-low

    Bloomberg Denmark’s unemployment rate fell to the lowest level in almost 14 years in a signal the Nordic nation’s labor market remains resilient to surging inflation and the fallout from the war in Ukraine. The gross unemployment rate dropped to 2.4% in April, the lowest since June 2008, according to Statistics Denmark. The latest drop means only 70,000 people ...

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• 2 June

  Stocks struggle, bonds dip

  

    Bloomberg Stocks in Europe and the US equity futures struggled for direction amid a debate over the scale of central bank monetary policy tightening needed to fight the inflation. Europe’s Stoxx 600 Index surrendered early gains as investors assessed cheaper valuations against the record jump in euro-zone consumer prices. Among individual moves, bootmaker Dr Martens Plc surged after its ...

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• 2 June

  Adani shares hit by selloff in the wake of MSCI index review

  

    Bloomberg Some shares that are part of billionaire Gautam Adani’s conglomerate took a beating as investors adjusted their holdings to reflect changes in the composition and weighings in the MSCI India Index, according to an analyst who publishes at Smartkarma. Adani Green Energy Ltd., the group’s biggest firm by market value, led the rout, plunging a record 12% in ...

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• 1 June

  UAE, Israel to advance bilateral trade beyond $10bn in 5 years

  

    Abu Dhabi / WAM Abdulla Bin Touq, Minister of Economy of the United Arab Emirates, and Major General (Retd) Orna Barbivay, Minister of Economy and Industry for the State of Israel, signed the UAE-Israel Comprehensive Economic Partnership Agreement (UAE-Israel CEPA) in Dubai, beginning a new era of cooperation between the two nations that established diplomatic ties in September 2020. ...

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• 1 June

  Adnec showcases exceptional facilities at Imex Frankfurt

    Abu Dhabi / WAM Abu Dhabi National Exhibitions Company (Adnec) group participated in Imex Frankfurt ‘The heartbeat of the global business events community’, which will be held until June 2, to showcase the group’s outstanding facilities, and highlight Abu Dhabi’s position as the capital of the business and leisure tourism sector in the region. Imex in Frankfurt is the ...

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• 1 June

  Adnoc announces latest blockbuster IPO on ADX

  

    Abu Dhabi / WAM Abu Dhabi National Oil Company (Adnoc) together with its long-standing partner Borealis AG on Tuesday announced the successful completion of the bookbuild and public subscription process for the initial public offering (IPO) of Borouge plc, their petrochemicals joint venture, on the Abu Dhabi Securities Exchange (ADX). The offering of 3,005,769,158 ordinary shares (offer shares), equivalent ...

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• 1 June

  Dewa partners with Eutelsat to develop its Space-D programme

  

    Dubai / WAM Dubai Electricity and Water Authority (Dewa) signed an MoU with Eutelsat, the French global satellite operator, to provide technical support for Dewa’s Space-D programme and Dewa’s 3U nanosatellite Dewa-SAT1. The cooperation aims to explore the potential integration of Eutelsat Earth Low Orbit (ELO) satellites with the Space-D programme and expand the fleet of nanosatellites for both ...

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