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  Bloomberg UK Chancellor of the Exchequer Rishi Sunak is on track for a windfall of around 13 billion pounds ($17.5 billion) this financial year as borrowing figures for the first nine months came in well below official forecasts, despite a sharp rise in debt interest costs. The budget deficit was 16.8 billion pounds last month, taking the shortfall from ...

  Bloomberg Euro area economic activity increased at its slowest pace in almost a year as infections of the coronavirus’s Omicron strain ripped through the services industry. While supply disruptions eased somewhat for manufacturers, a composite gauge for both sectors falls for a second month, to 52.4 in January from 53.3 in December, according to a survey of purchasing managers ...

  Bloomberg The Port of Los Angeles moved record cargo volumes last year amid an import surge at the U.S.’s biggest container gateway and supply-chain snarls brought on by the pandemic. The West Coast port handled 10.7 million 20-foot container units in 2021, 13% more volume than in 2018, the previous record year, Executive Director Gene Seroka said. US supply ...

  Bloomberg Volkswagen AG is partnering with Robert Bosch GmbH to bolster its automated-driving push and catch up with the likes of Tesla Inc. on software development. VW’s Cariad software unit will work with the world’s largest auto-parts supplier to introduce features allowing drivers to temporarily take their hands off the steering wheel starting in 2023, the companies said on ...

  Abu Dhabi / WAM During its pioneering 50-year journey, Abu Dhabi Fund for Development has worked to support international efforts aimed at achieving sustainable development in the education sector around the world. To date, it has funded 64 educational development projects that serves the educational sector, with a total of AED2 billion invested across 15 developing countries around the ...

  SHARJAH / WAM The Sharjah Chamber of Commerce and Industry (SCCI) received a Syrian delegation led by Kinan Zahreddine, Syrian Consul-General in Dubai, to discuss enhancing economic relations and increase trade exchange. The meeting also reviewed potential investment opportunities to support economic cooperation and enhance the partnership between businessmen. The delegation was received by Abdullah Sultan Al Owais, Chairman ...

  Dubai / WAM Emirates 2022 World Stamp Exhibition, the first international philatelic exhibition in the region, ended with great success, at the Dubai Exhibition Centre. Coinciding with Expo 2020 Dubai, the event featured more than 175 exhibits from 27 countries in the Middle East, Asia, Africa, Europe, America, and Oceania. The international event was a major step towards increasing ...

  Bloomberg The European Union’s executive arm is testing the waters to see if its trading partners, including the United States, could boost natural gas supplies to the region amid limited shipments from Russia and rising geopolitical risks, according to the bloc’s energy chief. While the EU has a robust gas infrastructure and clear procedures in case of emergencies, it ...

  Bloomberg The US ordered family members at its embassy in Kyiv to leave “due to the continued threat of Russian military action,” signaling a further turn of the screw in the standoff over Ukraine. While the US renewed warnings that Russia could send forces into Ukraine at any time, the New York Times reported that President Joe Biden is ...

  DUBAI / WAM Dubai Electricity and Water Authority (Dewa) inaugurated 16 new substations in 2021, at around AED2.928 billion. These include fourteen 132kV stations with a conversion capacity of 2,100 megavolt amperes and two 400kV stations with 4,000 megavolt amperes in the Mohammed bin Rashid Al Maktoum Solar Park and Al Quoz 2. Dewa installed 222 kilometres of 400kV ...