October, 2021

• 10 October

  Peru raises key rate to curb fastest inflation in 12 years

  

  Bloomberg Peru tightened monetary policy for a third straight month after inflation surged to its highest rate in 12 years and political volatility roiled the currency. The central bank lifted its benchmark rate half a percentage point, to 1.5%, matching the median forecast of economists surveyed by Bloomberg. It was the third consecutive rate hike by the bank led by ...

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• 10 October

  Facebook, Instagram back to normal after another outage

  

  Bloomberg Thousands of users of Facebook Inc’s main social network and Instagram photo-sharing app reported having trouble accessing the services for a short stretch midday, the second time in a week they were out of reach for a wide swath of people. More than an hour after apologising for the outages, Instagram said on Twitter that the situation was resolved. ...

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• 10 October

  Volvo recalls 460,000 cars after air-bag rupture fatality

  

  Bloomberg Volvo Car AB is recalling more than 460,000 vehicles worldwide over risk an air-bag component that’s bedeviled automakers for years could rupture into metal fragments and strike drivers. The Swedish carmaker told the US National Highway Traffic Safety Administration (NHTSA) it has identified potential for tablets of propellant in its vehicles’ air-bag inflators to decay if they’re subject to ...

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• 10 October

  Nissan unveils green factory for next-generation EVs

  

  Bloomberg Nissan Motor Co is planning to spend more than 130 billion yen ($1.2 billion) implementing new technologies that will make its global factories more efficient, less polluting and ready to produce next-generation cars such as electric vehicles. As part of its “Intelligent Factory Initiative,” Nissan has spent about 33 billion yen over the past two years installing advanced equipment ...

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• 10 October

  UK automakers see weakest sales in Sept

  Bloomberg Automakers logged their weakest September sales in the UK since 1998 as the global shortage of semiconductors constrains production. Registrations plunged more than a third from a year ago to 215,312 cars, according to the Society of Motor Manufacturers and Traders. It’s a significant blow to the industry because September is typically the market’s second-busiest month of the year. ...

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• 7 October

  Dafza adds 11% to Dubai’s non-oil trade in H1 2021

  

  DUBAI / WAM The Dubai Airport Freezone Authority (Dafza) announced that its contribution to Dubai’s non-oil foreign trade for the first half of 2021 reached 11 percent. H1 trade in the free zone grew 34 percent from the same period last year to reach AED77 billion, with a trade surplus of AED6.2 billion. Imports recorded a growth of 44.5 percent ...

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• 7 October

  Federal employees get 6-day paid leave to visit Expo 2020

  ABU DHABI / WAM The UAE cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has issued a resolution to grant federal government employees a six-day special paid leave to enable them and their families to visit Expo 2020 Dubai. The six-day leave can be used ...

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• 7 October

  AD Ports, Aurora50 partner to empower Emirati women

  

  Emirates Business AD Ports Group, a leading facilitator of trade and logistics, has signed a new partnership deal with Aurora50, a social enterprise focusing on achieving gender-balanced boardrooms in UAE. Through the new partnership, AD Ports Group and Aurora50 aim to create a more inclusive, integrated workplace environment with a new purpose-driven programme, Glow (Gain Leadership Opportunities for Women). The ...

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• 7 October

  Jafza sees 40% rise in new customer registrations in first half of this year

  

  DUBAI / WAM DP World’s flagship Jebel Ali Free Zone (Jafza) witnessed a robust new customer growth of nearly 40 percent year-on-year in H1 2021, taking the total number of companies in Jafza to over 8,700. Some of the industry segments in Jafza observed a significant rise in figures, with machinery and equipment witnessing an increase of 188 per cent, ...

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• 7 October

  Dana Gas payments from Egypt, Kurdistan rise 102%

  

  SHARJAH / WAM Dana Gas announced that its collections for the first nine months of 2021 from the Kurdistan Region of Iraq (KRI) and Egypt have increased 102 percent year-on-year to $256 million (AED938 million) from $127 million (AED466 million) in the same period the previous year. Dana Gas, which owns a 35% interest in Pearl Petroleum, saw its share ...

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