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  Bloomberg Oil fell again on Monday along with broader commodities markets, as China’s return from Lunar New Year holidays failed to deliver hoped-for gains. West Texas Intermediate slid near to $78 a barrel after topping $81 last week. Risk-off sentiment appeared to permeate markets as European equities and US equity futures dropped at the start of a week marked ...

Bloomberg Parts of Johannesburg, South Africa’s economic hub, are being subjected to renewed water-supply cuts as ongoing electricity shortages disrupt pumping operations. A power failure at Rand Water’s Eikenhof pump station, which supplies reservoirs in several high-lying areas of Johannesburg, resulted in critically low levels of supply, the municipality said on Twitter on Monday. While repairs have been completed, it ...

Bloomberg Chancellor Olaf Scholz is using a trip to Latin America to help Germany secure additional supplies of the lithium that car giants like Mercedes-Benz Group AG and Volkswagen AG need for their electric-vehicle batteries. Chile is the world’s second-largest supplier of lithium after Australia and much of its output is currently gobbled up by China. Scholz, who met with ...

  Bloomberg Spanish inflation unexpectedly quickened in January after a five-month run of slowing price growth, prompting traders to boost their bets on how high the European Central Bank will raise interest rates. Consumer prices advanced by 5.8% from a year ago, up from the previous month’s 5.5% increase, the statistics institute in Madrid said Monday. That’s well above the ...

Bloomberg Prime Minister Rishi Sunak said he cannot raise UK taxes to fund pay rises for workers in the state-run National Health Service. “Where we are with taxes at the moment, we can’t put them up,” Sunak told an audience of health-care workers in northeastern England, adding that government spending on the NHS is at a historical high. “The pie ...

Bloomberg Russia’s hunt for weapons to fire at Ukraine could provide a lifeline for North Korea, where even a relatively modest arms deal would help lift the country’s cash-starved and stagnant economy into growth. The US made fresh accusations this month that Kim Jong Un is providing arms and ammunition to aid Putin’s war, including sending shells and rockets. While ...

Bloomberg China hit back at a report that the US has confronted it with evidence suggesting some of its state-owned firms may be helping Russia’s war in Ukraine, saying Washington should stop sending weapons if it wants the conflict to end. China “would never add fuel to the fire, still less exploit the crisis,” Foreign Ministry spokesperson Mao Ning said ...

  Abu Dhabi / WAM Attended by HH Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, CEO of Alliances for Global Sustainability, the UAE Circular Economy Council convened its meeting, presided over by Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment to discuss ‘Year of Sustainability’ initiatives and COP28. In her welcoming note, Mariam bint Mohammed Almheiri ...

DUBAI / WAM Dubai Electricity and Water Authority (Dewa) inaugurated 17 new substations in 2022. These include fifteen 132kV stations with a conversion capacity of 2,280 megavolt amperes (MVA) and two 400kV stations with a conversion capacity of 4,000 MVA, in Al Qusais Industrial Area 5 and Jebel Ali First. Dewa installed five kilometres of 400kV overhead transmission lines and ...

  Dubai / WAM Dubai Cares signed a new partnership with the Ban Ki-moon Centre for Global Citizens (BKMC) to launch the ‘Green Jobs for Youth – Online Training and Mentoring’ programme. With the addition of this new programme, Dubai Cares expanded its programmatic portfolio as a key step to place education at the heart of the global climate and ...