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Bloomberg Joe Biden talked at length as a presidential candidate about the need to focus on China’s rising global power. Yet 17 months after taking office, Asian leaders are still waiting for details on a strategy for more US economic engagement in the region. Before Biden touched down in South Korea, many officials in the region have struggled to understand ...

Bloomberg Chancellor of the Exchequer Rishi Sunak said that extra government spending to help ease Britain’s cost-of-living crisis risks further stoking inflation, as he warned of tough months ahead for the UK economy. “We need to be careful,” Sunak said at the annual dinner of the Confederation of British Industry, speaking to hundreds of executives. “At a time of severe ...

Bloomberg Applications for US state unemployment insurance unexpectedly rose last week to the highest level since January, led by increased filings in Kentucky and California. Initial unemployment claims increased by 21,000 to 218,000 in the week ended May 14, Labour Department data shows. The median estimate in a Bloomberg survey of economists called for 200,000 initial applications. Continuing claims for ...

  Bloomberg Prime Minister Justin Trudeau’s government joined Canada’s closest intelligence allies in banning Huawei Technologies Co. from the fifth-generation wireless networks. The Chinese state-championed telecommunications firm poses a threat to Canada’s national security, Industry Minister Francois-Philippe Champagne said, confirming an earlier Bloomberg News report. ZTE Corp. equipment will also be prohibited. Firms that already have Huawei or ZTE gear ...

  Bloomberg The flight of millions of Ukrainians from Russia’s invasion has raised financial costs for the countries on the European Union’s eastern border that are taking them in, but the case of Poland shows that providing shelter can also bring economic benefits. The EU’s largest eastern economy expanded at the faster pace than Hungary and Romania, its other two ...

  Abu Dhabi / WAM Alpha Dhabi Holding announced its commitment to invest AED9.2 billion ($2.5 billion) in Chimera Capital and Alpha Wave’s landmark “Alpha Wave Ventures II” venture fund, which was announced and launched at the beginning of the year. The total commitment comprises a capital contribution of AED2.6 billion and an undrawn capital commitment of AED6.6 billion, which will ...

  Abu Dhabi / WAM Dr Ahmad Belhoul Al Falasi, Minister of State for Entrepreneurship and SMEs and Chairman of the UAE Tourism Council, revealed that the UAE’s tourism sector achieved a new growth milestone in Q1 2022, underlining its competitiveness at both regional and global levels. He attributed the sector’s latest achievement to the unlimited support and directives of ...

  Sharjah / WAM His Highness Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah, was briefed on Thursday on the preparations for the 22nd edition of Sir Bu Nair Festival, this came during a meeting via video call, with the Supreme Committee of the festival. The meeting was attended by Hana Saif Al Suwaidi, Chairperson of ...

  Manama / WAM The delegation of the UAE Ministry of Defence headed by Staff Brigadier Musallam Al Rashidi has met with Major-General Sheikh Nasser bin Hamad Al Khalifa, Bahraini National Security Advisor and Royal Guard Commander, in Bahrain. Royal Guard Special Force Commander, Lieutenant-Colonel Sheikh Khalid bin Hamad Al Khalifa, attended the meeting. Sheikh Nasser welcomed the UAE delegation, ...

Bloomberg China’s top diplomat again warned the US over its increased support for Taiwan, showing the island democracy remains a major sticking point between the world’s biggest economies as Beijing sent more military aircraft toward the island. “If the US side insists on playing the Taiwan card and goes further and further down the wrong road, it will certainly lead ...