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Searing UK inflation drives pound near its 37-year low

  Bloomberg It’s starting to look like nothing can stop the British pound from sinking to new lows. With talk about inflation surpassing 18% next year and families across the country likely to be pushed into energy poverty this winter, the UK’s economic woes are getting worse by the day. The consensus among traders is that the Bank of England ...

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French PM is leaving door open for windfall tax on ‘super profits’

  Bloomberg French Prime Minister Elisabeth Borne is leaving open the possibility of a new tax on corporate “super profits” after lawmakers rejected the move last month. In an interview published in Le Parisien newspaper, Borne said she’d prefer alternatives to a windfall levy, such as companies lowering prices for consumers and giving bonuses to employees to bolster their spending ...

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German business confidence falls as economy already contracting

  Bloomberg Confidence in Germany’s business outlook fell in August as soaring inflation and fears about a possible recession in Europe’s largest economy has intensified. The Ifo Institute’s gauge of business expectations for the next six months inched down to 80.3 from 80.4 in July, though economists had predicted a steeper decline. Current conditions were also assessed more negatively. Still, ...

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Tesla raises price of driver-assistance system to $15,000

  Bloomberg Tesla Inc will start charging $15,000 for the driver-assistance system it calls Full Self-Driving, raising the price of the controversial product for the second time this year. The hike for customers in North America will take effect from September 5, Chief Executive Officer Elon Musk tweeted. The current $12,000 price will be honoured for orders made before that ...

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Sheikha Fatima hails Emirati women in enabling UAE’s progress, development

  Abu Dhabi / WAM HH Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union (GWU), President of the Supreme Council for Motherhood and Childhood, and Supreme Chairwoman of the Family Development Foundation (FDF), on Friday, expressed her pride in the achievements of Emirati women and their contribution to the UAE’s progress and development, based on knowledge and sincere ...

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Masdar training equips Rwanda women to harness clean energy

  Abu Dhabi / WAM Masdar’s Women in Sustainability, Environment and Renewable Energy (WiSER) platform on Friday completed its first field-based course in Rwanda to teach young women in rural off-grid communities to harness the potential of clean energy solutions, in line with the United Nations’ Sustainable Development Goal (UN SDG) 7 to ensure access to affordable, reliable, sustainable and ...

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Emirati women play active role in building nation’s sustainable future: Minister

  Abu Dhabi / WAM Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment, has stetted that women’s participation has been part and parcel of the UAE’s sustainability journey. On the occasion of Emirati Women’s Day, which is observed on August 28, Almheiri said, “This year, we mark the day under the theme ‘Inspiring Reality .. Sustainable Future’ ...

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European governments spend $278b to cushion energy crisis

Bloomberg European governments have allocated about 280 billion euros ($278 billion) in funding to cushion the impact of the energy crisis on households and businesses. The funding, calculated by Brussels-based Bruegel think tank, measures fresh allocations since September, and covers everything from subsidising tariffs for small businesses in Greece to direct payouts to consumers in Belgium. Some of the money ...

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Third US Congress visit to Taiwan this month fans China tensions

Bloomberg Taiwan welcomed its third US congressional visit this month, as Senator Marsha Blackburn began a three-day trip to the island that’s likely to further test Washington’s tense ties with Beijing. Blackburn, a Republican on the Senate’s Armed Services Committee which oversees defense policy, met Taiwan President Tsai Ing-wen on Friday morning, after landing in Taipei the previous evening. Days ...

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Sheikh Mohamed, President of Greece discuss ways to boost ties

ATHENS / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan held a meeting on Thursday in Athens with Katerina Sakellaropoulou, President of the friendly Republic of Greece. At the beginning of the meeting, that took place at the presidential palace, President Katerina Sakellaropoulou welcomed HH Sheikh Mohamed bin Zayed Al Nahyan, and congratulated him on becoming the ...

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