December, 2021

• 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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• 5 December

  Mubadala signs two deals to raise investments in France

  

  Abu Dhabi / WAM During the official state visit of the President of the French Republic Emmanuel Macron to the UAE, Abu Dhabi-based sovereign investor, Mubadala Investment Company (Mubadala), announced the signing of two agreements aimed at facilitating investments in sectors of mutual priority and interest in France. These two agreements are part of comprehensive economic agreements valued at more ...

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• 5 December

  UAE, France to enhance food security cooperation

  

  Dubai / WAM The Ministry of Climate Change and Environment (MOCCAE) signed a memorandum of understanding (MoU) with the French Ministry of Agriculture and Food to collaborate on developing sustainable and resilient food systems that enhances food security for both countries. Signing the MoU coincided with the visit of the French President Emmanuel Macron to the UAE. Mariam bint Mohammed ...

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• 5 December

  Sheikh Mohamed receives Israeli president’s phone call

  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, has received a phone call from President of Israel, Isaac Herzog, who congratulated His Highness on the UAE’s Golden Jubilee. Herzog wished the UAE leadership and people further progress and prosperity, expressing hope the ...

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• 5 December

  IMF warns of ‘downside risks’ to global economic rebound

  

  Bloomberg The International Monetary Fund (IMF) sees ‘downside risks’ to the global economic rebound it forecast for this year and next, and is concerned that new coronavirus variants may hinder the recovery, its chief economist said. “Most of the overall risks are to the downside,” Gita Gopinath said in a virtual speech to an International Finance Forum conference in Guangzhou ...

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• 5 December

  Dewa inaugurates Noor Energy 1 Visitors Centre

  Dubai / WAM Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (Dewa), has inaugurated the “Noor Energy 1 Visitors Centre” in the fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park. The 950-megawatt (MW) phase has investments totalling AED15.78 billion based on the Independent Power Producer (IPP) model. Mohammad Abunayyan, Chairman of ACWA ...

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