December, 2021

• 6 December

  US is reviewing travel rules on daily basis, says Fauci

  Bloomberg The US is reevaluating the travel ban on eight southern African countries as more information about the omicron variant and its spread becomes available, White House medical adviser Anthony Fauci said. “That ban was done at a time when we were really in the dark — we had no idea what was going on,” Fauci said. U.S. medical advisers ...

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• 6 December

  Biden says US is ‘back to work’ after unemployment rate falls

  

  Bloomberg President Joe Biden said Americans are returning to work and the US economy continues a strong rebound from the pandemic, after a Labour Department report offered a mixed view on the job market. “Simply put, America, America is back to work,” Biden said in remarks at the White House. “Because of the extraordinary strides we’ve made, we can look ...

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• 6 December

  EU opens path for Spain to receive $11b in recovery funds

  

  Bloomberg The European Union (EU) will give preliminary approval to the reforms submitted by Spain to unlock $11.3 billion of its recovery funds. The European Commission will validate first set of milestones fulfilled by the Spanish government as part of its cash-for-reforms package to counter economic fallout of Covid-19, according to EU officials. Spain is one of the largest beneficiaries ...

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• 6 December

  Fitch raises Italy’s debt rating on robust economic outlook

  

  Bloomberg Italy’s credit rating was raised one notch to “BBB” by Fitch Ratings, which said the country’s high Covid-19 vaccination rates and an increase in public and private spending will help the economy expand more than expected. The boost in rating reflects confidence in the unity government led by Premier Mario Draghi and its ability to wisely spend over 200 ...

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• 6 December

  Toronto home prices surge 22% with supply vanishing

  Bloomberg Toronto home prices rise to a record as a sharp decline in the number of properties coming up for sale stoked competition among buyers, leaving little prospect market will cool soon. The average price of a home sold in the Toronto region in November was was about $904,000, up 22% from last year. The number of new listings fall ...

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• 6 December

  Half of UK firms plan to raise prices

  Bloomberg Half of UK businesses expect to increase their prices in response to rising wage costs and supply-chain difficulties. That’s according to a survey by Lloyds Bank, which said that acute shortages of workers persisted into November. It showed that a quarter of companies expect to increase wages by 3% or more in next year in an effort to retain ...

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• 6 December

  Ford gets ready to race rivals for a place behind Tesla

  

  Bloomberg Ford Motor Co expects to be the second-biggest seller of electric vehicles in the world within two years, according to Chief Operating Officer Lisa Drake. Demand for Ford’s first electric vehicles — the Mustang Mach-E crossover, the new electric F-150 Lightning pickup due out next spring, and its E-Transit commercial van — is emboldening the automaker to ramp up ...

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• 6 December

  China stock losses in US top $1 trillion on delisting fear

  

  Bloomberg A brutal 2021 selloff for Chinese stocks trading in the US has now erased more than $1 trillion in value since February and shows no signs of easing as regulators on both sides of the globe continue to put pressure on the firms. The Nasdaq Golden Dragon China Index — which tracks China-exposed firms listed in the US — ...

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• 5 December

  Crypto tokens plunge 20% in fresh sign of global market nerves

  

  Bloomberg Bitcoin plunged along with other cryptocurrencies, in another indication of the risk aversion sweeping across financial markets. The largest digital token falls as low as $42,296 before paring some of the tumble. It was trading at about $48,300 as of 10:31 am in New York, a drop of about 10%. The token has now declined more than 20% from ...

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• 5 December

  Abu Dhabi’s global summit sets a ‘build back better’ framework

  

  Abu Dhabi / WAM The Global Volunteering Leadership Summit, hosted and organised by the Emirates Foundation in association with the International Association for Volunteer Effort (IAVE) and in collaboration with the Department of Community Development, discussed why volunteering matters for the post-Covid world. It also discussed the volunteers’ pivotal role in weaving a strong social fabric within communities. The Adnoc ...

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