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  Bloomberg The US trade deficit widened to a record in March, reflecting a surge in imports as companies relied on foreign producers to meet solid domestic demand. The gap in goods and services trade grew 22.3% to $109.8 billion, Commerce Department data showed. The median estimate in a Bloomberg survey of economists called for a $107.1 billion deficit. The ...

  Bloomberg German factory orders fall more than anticipated after Russia’s invasion of Ukraine darkened the prospects for the economy by adding to inflation pressure and disrupting global supply chains. Demand plunged 4.7% in March from the previous month, driven by a decline in orders from broad. That’s worse than all but one forecast in a survey of economists by ...

  Bloomberg Mexico’s government has struck a deal with leading companies to temporarily cap prices on 24 food and other basic products in an effort to temper inflation that has surged to two-decade highs. The plan, which was first reported by Bloomberg News, will initially last six months and includes the reduction of tariffs of some food products to zero ...

  ABU DHABI / WAM Abu Dhabi National Oil Company (Adnoc), and Mubadala Investment Company (Mubadala), on Friday announced a strategic transaction involving Borealis AG (Borealis), one of Europe’s leading petrochemical companies. Under this agreement, Adnoc will acquire a 25 percent shareholding in Borealis from Mubadala. Upon completion of the transaction, which is subject to customary closing conditions and regulatory ...

  Dubai / WAM Dubai Financial Market Company announced its consolidated financial results for the first quarter of the year ending March 31, posting a 17 percent increase in its net profit to AED 27.5 million, compared to AED 23.4 million during the corresponding period of 2021. The company’s total consolidated revenue has increased by 7 percent to AED 78.6 ...

  Dubai / WAM The United Arab Emirates has announced the launch of a new space mission to the International Space Station (ISS) that will last for six months. The Mohammed bin Rashid Space Centre (MBRSC) signed a new strategic cooperation in human spaceflight with Axiom Space Inc. a leading human spaceflight and infrastructure company. His Highness Sheikh Mohammed bin ...

  Bloomberg Exxon Mobil Corp tripled its share-buyback programme to as much as $30 billion after profits surged amid Russia’s invasion of Ukraine and a rally in worldwide energy prices. The repurchases will be made through the end of next year, Exxon said in a statement. The oil giant more than doubled first-quarter adjusted net income to $8.8 billion, or ...

Bloomberg Russia’s war on Ukraine has triggered a profound reassessment in European capitals of their individual and collective relations with China. Confronted by the need to rapidly unwind a dependence on Russian energy built up over decades, government officials from Rome to Prague are re-evaluating the extent of their economic and political ties to China. Senior lawmakers in Berlin who ...

  Abu Dhabi / WAM The Board of Management of the UAE’s Federal Authority for Nuclear Regulation (FANR) has approved FANR’s strategy for 2023 to 2026, where it details its future roadmap in regulating the nuclear and radiological sectors in the UAE. The strategy focuses on the oversight of the safety and security of the Barakah Nuclear Power Plant, waste ...

  Dubai / WAM Dubai Electricity and Water Authority (Dewa) continues to develop a world-class infrastructure supported by assets exceeding AED200 billion owned by Dewa and its subsidiaries, as well as an additional investment of AED40 billion over five years in the energy and water sectors. This helps Dewa expand its production capacity to meet the growing demand for electricity ...