May, 2021

• 23 May

  Germany imposes UK travel curbs due to variant from India

  

  Bloomberg Germany will impose fresh restrictions on travelers from the UK due to the rapid spread in Britain of the coronavirus strain first identified in India. Travelers from the UK will have to spend two weeks in quarantine upon arrival in Germany even if they test negative for the virus, according to the foreign ministry. In addition, transport companies will ...

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• 23 May

  Eiffel Tower to reopen in July after suffering heavy losses

  Bloomberg The Eiffel Tower is getting ready to welcome visitors again starting in mid-July as restrictions linked to the coronavirus ease throughout France. The French capital’s iconic structure will reopen from July 16 to tourists eager to climb the 324-meter tower’s staircases or use its lifts, according to an announcement on Twitter. The news comes as the terraces of cafes ...

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• 23 May

  Euro-area recovery boosted by services as industry loses steam

  

  Bloomberg The euro area’s economic recovery is increasingly being supported by a rebound in services as factories confront a supply squeeze that is pushing up costs. Surveys of purchasing managers by IHS Markit show the 19-nation region emerging from the pandemic crisis as infections drop and the lockdowns that dragged the bloc into a double-dip recession are eased. Service-sector businesses, ...

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• 23 May

  KC Southern agrees to $30b CN rail deal

  Bloomberg Kansas City Southern agreed to a $30 billion merger with Canadian National Railway Co, scrapping a $25 billion deal with Canadian Pacific Railway Ltd. after it declined to boost its offer. Under the deal, Canadian National will pay $200 and 1.129 shares of its stock for each share of Kansas City Southern, the US railroad said. Kansas City Southern ...

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• 23 May

  UK economy emerges from months of lockdown

  

  Bloomberg The UK economy is firing on all cylinders as it emerges from months of lockdown, with the private sector expanding at the fastest pace in at least 23 years and retail sales surging. IHS Markit said that its measure of private-sector growth this month hit the highest since the index began in 1998, with hotels, restaurants and other consumer-facing ...

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• 23 May

  After $690bn slump, traders see value in Asia tech stocks

  

  Bloomberg Asian tech shares haven’t been immune from the global selloff in speculative assets, but investors are sifting through the ashes and some see buying opportunities. JPMorgan Asset Management is suggesting that investors buy the dip as combined losses in the region’s technology and consumer discretionary sectors hit about $690 billion from their first-quarter peaks. Pictet Asset Management says Asia’s ...

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• 23 May

  Stock market’s million little dramas come down to a supply glut

  

  Bloomberg Angst has been the stock market story of late. It soars, it plunges, and all the while investors fret over sky high valuations and pour over data to figure out when inflation will bring the house of cards crashing down. But sometimes, like now, the problem is far simpler than that: too much supply and not enough demand. Companies ...

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• 23 May

  Covid-19: ERC, Tamouh join forces to provide vaccines to many nations

  

  Abu Dhabi / WAM The Emirates Red Crescent (ERC) and the Tamouh Healthcare Company, have launched a joint initiative to provide Covid-19 vaccines to countries facing challenges in limiting the spread of the pandemic on their lands, in support of the UAE’s efforts to address the repercussions of the virus globally. The two sides, at the ERC’s headquarters in Abu ...

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• 23 May

  Creative, cultural industry generates $2.25tn annually

  

  New York / WAM The creative and cultural industry has played an essential role the world over throughout the Covid-19 pandemic and deserve more support moving forward, the President of the UN General Assembly said. “As we deliberate on the role of the creative sectors in supporting and being supported by a recovery from Covid-19, let us ensure that we ...

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• 23 May

  UAE keen to boost ties to advance Arab government work

  Dubai / WAM Mohammad bin Abdullah Al Gergawi, Minister of Cabinet Affairs, has emphasised the UAE leadership’s keenness on enhancing cooperation and strategic partnerships to modernise government work with Arab and international governments, expand horizons for sharing experiences, success stories, and knowledge exchange aimed at raising levels of efficiency and government performance and improving living standards of societies. Al Gergawi ...

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