October, 2021

• 13 October

  Macron unveils $35 billion plan for industrial revival

  

  Bloomberg French President Emmanuel Macron unveiled a 30-billion-euro ($35 billion) plan to create the high-tech champions of the future and reverse years of industrial decline in the euro area’s second-largest economy. The plan, dubbed “France 2030,” foresees investing the funds over five years in sectors including nuclear and renewable energy sources, electric cars, semiconductors and robotics. “I want us to ...

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• 13 October

  Global PC sales stunted by supply, logistics snarls

  

  Bloomberg Computer sales grew at the slowest rate since the start of the pandemic due to component shortages and logistics snarls, according to the latest report by IDC. The key US market shrunk for the first time since sales cratered in the first quarter of 2020 with the coronavirus outbreak, the market researcher said. Shipments there fell 7.5% in the ...

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• 13 October

  Lonza to keep investment high amid vaccine demand

  Bloomberg Swiss drug-ingredient maker Lonza Group AG said it plans to keep investment at high levels over the coming years to keep up with demand to manufacture products such as Moderna Inc.’s Covid-19 vaccine. Capital expenditure will be 25% of total revenue this year and remain at such elevated levels for the next few years, the company said on Tuesday. ...

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• 13 October

  UK pays most since Brexit vote to borrow compared to Germany

  

  Bloomberg UK government bond yields have climbed to levels last seen before the Brexit referendum in 2016 relative to German peers, as traders brace for inflation in Britain over the next decade to far outpace the rate in Europe’s largest economy. The extra yield investors demand to own 10-year gilts over equivalent bunds jumped to more than 125 basis points ...

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• 13 October

  German investor confidence falls in Oct

  Bloomberg German investor confidence declined for a fifth month in October, adding to evidence that global supply bottlenecks and a surge in inflation are weighing on the recovery in Europe’s largest economy. The ZEW institute’s gauge of expectations fell to 22.3 from 26.5 the previous month, the lowest since the start of coronavirus lockdowns last year. The outlook for the ...

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• 13 October

  US farmers reap bigger crop profits, boost stockpiles

  

  Bloomberg It turns out that 2021 was a pretty good year to be an American farmer. After struggling through extreme weather, a trade war and tepid demand in recent years, things started to turn around this season as Chinese buying roared back. What’s more, crops proved resilient against bouts of dryness that hit some parts of the Midwest, and analysts ...

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• 13 October

  European stocks, US futures dip as inflation risk bubbles

  

  Bloomberg Stocks and US equity futures fall on Tuesday, as traders focused on the risks that rising energy costs will keep inflation elevated and signs of a widening regulatory scrutiny by China. European equities slumped at the open, with cyclical industries including banks, auto-parts manufacturers and miners faring the worst. Futures on the S&P 500 and Nasdaq 100 fell less ...

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• 13 October

  Thai baht, travel stocks surge as nation eases tourism restrictions

  

  Bloomberg Thailand’s baht rallied the most since August as an easing of travel requirements for vaccinated visitors brightened the outlook for the tourist-reliant economy. The baht jumped as much as 1.4% to 33.426, the biggest gain since August 24. Visitors from 10 low-risk countries will not be required to undergo isolation on arrival from November 1, Prime Minister Prayuth Chan-Ocha ...

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• 12 October

  FTA calls on participants of Expo 2020 to avail VAT refund scheme

  

  DUBAI / WAM The Federal Tax Authority (FTA) has called on official participants in Expo 2020 Dubai to avail the Value Added Tax (VAT) refund scheme for taxes paid on goods and services connected with Expo 2020 Dubai. The scheme is implemented by the FTA in accordance with UAE Cabinet Decision No. (1) of 2020 on the Refund of Value ...

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• 12 October

  Arada launches second phase of AED8b Masaar project in Sharjah

  

  SHARJAH / WAM Arada, a UAE-based development company, has launched “Kaya”, the second residential phase of its forested lifestyle mega community Masaar, located in the Al Suyoh district of Sharjah. Containing 421 townhouses and villas, the launch of Kaya has been brought forward following strong demand for homes in the first phase of the AED8 billion Masaar megaproject. Launched in ...

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