January, 2022

• 25 January

  Euro area output increased at slowest pace in almost a year

  

    Bloomberg Euro area economic activity increased at its slowest pace in almost a year as infections of the coronavirus’s Omicron strain ripped through the services industry. While supply disruptions eased somewhat for manufacturers, a composite gauge for both sectors falls for a second month, to 52.4 in January from 53.3 in December, according to a survey of purchasing managers ...

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• 25 January

  Mexico’s annual inflation slows on core price woes

    Bloomberg Mexico’s annual inflation slowed slightly less than expected in early January and remained far above target, leaving the central bank in a tight spot amid indications the economy is in recession. Consumer prices rose 7.13% from a year earlier, compared to the 7.12% median estimate of economists surveyed by Bloomberg and 7.26% in the last two weeks of ...

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• 25 January

  LA port sees record cargo in 2021 despite trade snarls

  

    Bloomberg The Port of Los Angeles moved record cargo volumes last year amid an import surge at the U.S.’s biggest container gateway and supply-chain snarls brought on by the pandemic. The West Coast port handled 10.7 million 20-foot container units in 2021, 13% more volume than in 2018, the previous record year, Executive Director Gene Seroka said. US supply ...

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• 25 January

  German business outlook improves

  Bloomberg Confidence in Germany’s near-term outlook improved in January as companies expect the latest virus wave to prove only a temporary setback for the recovery. A business expectations gauge compiled by the Munich-based Ifo Institute rise to 95.2, more than economists predicted. Manufacturers saw supply bottlenecks easing at the start of the year, and even services providers were optimistic about ...

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• 25 January

  VW teams with car-parts maker to boost self-driving

  

    Bloomberg Volkswagen AG is partnering with Robert Bosch GmbH to bolster its automated-driving push and catch up with the likes of Tesla Inc. on software development. VW’s Cariad software unit will work with the world’s largest auto-parts supplier to introduce features allowing drivers to temporarily take their hands off the steering wheel starting in 2023, the companies said on ...

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• 25 January

  Inflation shocks rip through markets before key Fed meet

  

    Bloomberg Global traders already on tenterhooks over this week’s key Federal Reserve meeting were jolted further on Tuesday by Australian inflation data that smashed expectations, a surprise monetary tightening in Singapore and further swings in US equity futures. A maelstrom of volatility in the past 24 hours saw almost $3 trillion wiped off global stocks before a reversal with ...

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• 25 January

  S Korea to extend FX trading, ease rules for global funds

  

    Bloomberg South Korea will extend trading in its foreign-exchange market and ease restrictions against overseas investors in a bid to encourage more foreign participation — reversing a decades-old policy intended to limit volatile capital flows. Onshore dollar-won spot market trading hours will be extended significantly from the current 9:00 am to 3:30 pm local time span, the finance ministry ...

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• 25 January

  Sheikh Mohamed calls Pakistan premier, condemns Lahore blast

  

    ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Monday made a phone call to Imran Khan, Prime Minister of Pakistan, expressing his strong condemnation and denunciation of the blast that hit the Pakistani city of Lahore, which killed a number ...

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• 24 January

  UAE destroys two ballistic missiles fired by Houthis

  ABU DHABI / WAM The Ministry of Defence announced on Monday that its air defence forces had intercepted and destroyed two ballistic missiles targeting the UAE, which were fired by the Houthi terrorist militia. The ministry confirmed that there were no casualties resulting from the attack, as the fragments of the ballistic missiles fell in different areas around the UAE ...

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• 24 January

  AD Ports to establish oil and gas logistics base for Eni Abu Dhabi

  

    ABU DHABI / WAM Aligned with national efforts aimed at driving the growth of the UAE’s energy sector, AD Ports Group signed a new agreement with Eni Abu Dhabi B.V., the Abu Dhabi-based branch of the world-renowned Italian Integrated Energy Company, to establish a marine logistics base at Mugharraq Port supporting offshore drilling operations in the heart of Al ...

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