September, 2021

• 14 September

  World’s shippers are earning the most money since 2008

  

  Bloomberg The global shipping industry is getting its biggest payday since 2008 as the combination of booming demand for goods and a global supply chain that’s collapsing under the weight of Covid-19 drives freight prices ever higher. Whether it’s giant container ships stacked high with of 40-foot steel boxes, bulk carriers whose cavernous holds house thousands of tons of coal, ...

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• 14 September

  Italy billionaires may seek new Generali CEO as battle heats up

  

  Bloomberg Two of the leading investors at Italy’s Assicurazioni Generali SpA are escalating their battle with the insurer’s management in a push that could include replacing Chief Executive Officer Philippe Donnet. Construction magnate Francesco Gaetano Caltagirone and Luxottica founder Leonardo Del Vecchio, who together own about 11% of Generali, reached an agreement to work toward “a more profitable and effective ...

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• 14 September

  UK business warns tax hikes risk strangling GDP growth

  

  Bloomberg UK Prime Minister Boris Johnson risks strangling growth with higher taxes on business to fix the public finances in the wake of the coronavirus pandemic, the country’s biggest business lobby said. The blunt criticism comes less than a week after Johnson and Chancellor of the Exchequer Rishi Sunak raised payroll levies on workers and companies to help fund health ...

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• 14 September

  Uber loses battle over drivers’ rights

  

  Bloomberg Uber Technologies Inc lost another suit over its drivers’ working rights after an Amsterdam court ruled workers who ferry passengers using the Uber app in the Netherlands are covered by a local collective labour law. The legal relationship between Uber and its drivers meets all of the characteristics of an employment contract, the court said in its judgement. Uber ...

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• 13 September

  Greece forecasts fastest GDP growth in two decades

  

  Bloomberg The Greek government raised its growth estimate for 2021, with the country set to repeat the economic performance not seen in about two decades. The revised forecast came after a stronger-than-expected expansion in the second quarter, paving the way for the government to roll out $4 billion of additional tax-relief measures and other assistance to combat rising prices. “Today ...

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• 13 September

  China tech shares decline on latest volley of internet curbs

  

  Bloomberg Chinese technology shares fall once again on Monday on the latest moves from Beijing to reshape online businesses. Traders mulled a report that the government intends to break up Ant Group Co’s Alipay business, a statement calling for better protection of gig economy workers’ rights and latest warning against blocking links to rival services. The Hang Seng Tech Index ...

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• 13 September

  Stocks, futures rise as traders await US CPI

  

  Bloomberg European shares and US futures climbed ahead of critical US inflation data this week that traders will use to assess expectations about the timing of stimulus withdrawal and interest-rate hikes. The dollar edged higher and Treasury yields were little changed. Contracts on the S&P 500 and Nasdaq 100 advanced after indexes ended last week in red. Energy companies led ...

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• 13 September

  Japanese REITs better than traditional assets: Report

  Bloomberg Investments in Japanese real estate investment trusts are now more attractive than traditional financial assets such as domestic stocks and bonds thanks to the Bank of Japan’s unprecedented monetary easing, according to a report by staff of the world’s largest pension fund. Japan’s Government Pension Investment Fund employees concluded in the report released Sept. 10 that portfolio performance could ...

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• 13 September

  Dubai Chamber member exports exceed AED147b

  

  Dubai / WAM The value of exports and re-exports of Dubai Chamber members increased 21.8 percent year-over-year to reach AED147.3 billion in January-August 2021 period, supported by a rebound in trade activity in Dubai. The chamber pointed out that the exports and re-exports of its members recorded year-over-year growth of 43.9 percent, reaching AED21.4 billion in August. A total of ...

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• 13 September

  UAE, Kenya explore ways to enhance economic ties

  

  Dubai / WAM Dr Ahmad Belhoul Al Falasi, Minister of State for Entrepreneurship and SMEs, and Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, held a meeting at the Ministry’s headquarters in Dubai with Betty Maina, Cabinet Secretary of Kenya’s Ministry of Industrialisation, Trade and Enterprise Development. The meeting explored the prospects of economic and investment ...

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