April, 2022

• 10 April

  Los Angeles plans to electrify city’s entire 10,000-vehicle fleet

  

    Bloomberg Los Angeles plans to electrify its fleet of more than 10,000 vehicles as part of an effort to become one of the first US cities to rely on carbon-free energy by 2035. The Electric Vehicle Master Plan was unanimously approved by the LA city council. The switch to electric vehicles will start at the city’s largest departments of ...

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• 10 April

  Mexico’s annual inflation hits 21-year high in March

    Bloomberg Mexico’s annual inflation accelerated more than expected in March to its highest level in over two decades led by fuel prices, putting additional pressure on the central bank to continue boosting interest rates. Consumer prices rise 7.45% from the same month a year earlier, above 7.38% median estimate of economists , the national statistics institute reported. On a ...

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• 10 April

  Trudeau hits Canada insurers, banks with billions in taxes

    Bloomberg Finance Minister Chrystia Freeland is imposing a one-time windfall levy on Canada’s major banks and permanently increasing their income tax rate, fulfilling an election promise that has raised the ire of the industry’s top executives. The measures will force banks and insurance companies to pay an additional C$6.1 billion ($4.8 billion) in tax over five years, according to ...

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• 10 April

  GM electric Hummer review $110,000 worth of armour, with soft spots

  

    Bloomberg There may be no more polarising vehicle than General Motors Inc’s new Hummer EV. The $112,595, more than 9,000-pound pickup is a gargantuan remake of the military vehicle that was tamed for civilians in the 1990s. It is 1,000 horsepower of muscled Americana with knobby tires and a ridiculous launch mode that will further inflate the diaphanous egos ...

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• 10 April

  Apple, facing outcry, says app developers thriving on iPhone

  

    Bloomberg Apple Inc, looking to address criticism of its competitive practices by the European Union, developers and US lawmakers, pointed to a report showing that third-party apps are thriving on the iPhone and other devices. In a study published by Analysis Group and touted by the iPhone maker, analysts said that Apple’s own apps are infrequently the dominant option ...

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• 10 April

  Spain to invest $12.4bn in chips, semiconductors

  

    Bloomberg Spain plans to invest 11 billion euros ($12.4 billion) to develop microchips and semiconductors in a bid to modernise its tourism-dependent economy. “We want our country to be at the vanguard of industrial and technological progress,” Prime Minister Pedro Sanchez said in Madrid, without giving more details. He said the project will be approved soon by his cabinet. ...

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• 10 April

  TSMC sales soar to record in Q1 of 2022

    Bloomberg Taiwan Semiconductor Manufacturing Co (TSMC) revenue rose to a record in the first quarter on demand for chips used in smartphones, computers and cars, while a prolonged shortage helped to boost prices. Revenue jumped 36% to NT$491.1 billion ($17 billion) in the three months through March, the company said in a statement. Analysts estimated NT$469.4 billion on average. ...

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• 9 April

  UAE’s GDP beats expectations, posting highest rate in region

  Dubai / WAM The UAE’s gross domestic product (GDP) for 2021 has broken international economic expectations, registering the highest rate in the region of AED1.489 trillion. “In a turbulent and changing world, the UAE has been moving steadily forward. Our economy is growing, our journey is accelerating, our competitiveness is advancing upwards, our future is going to be promising, and ...

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• 8 April

  Abu Dhabi’s IHC to invest $2b in Adani group’s green portfolio

  

  Abu Dhabi / WAM International Holding Company PJSC (IHC), the Abu Dhabi-based conglomerate, announced on Friday that it had signed AED7.3 billion ($2 billion) Investment Agreement with Indian multinational conglomerate Adani Group, as primary capital in three Adani portfolio companies – Adani Green Energy Ltd (AGEL), Adani Transmission Ltd (ATL) and Adani Enterprises Ltd (AEL) which all are listed on ...

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• 8 April

  ERC supports its Ramadan programs in 64 countries

    Abu Dhabi / WAM The Emirates Red Crescent (ERC) supports its Ramadan programmes in 64 countries by allocating an additional budget to enlarge its scope of beneficiaries worldwide. Upon the directives of His Highness Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region and Chairman of the ERC, the ERC has implemented Ramadan Iftar, Zakat Al ...

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