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  Bloomberg Germany suffered its costliest natural disaster on record last year, as flash floods led to damages that vastly exceeded the amount covered by insurers. Torrential rainfall that devastated parts of western Germany in July 2021 cost Europe’s biggest economy $40 billion, according to a Munich Re report. Roughly a quarter of that will be met by the insurance ...

  Bloomberg UK property developers must contribute to a 4 billion-pound-fund ($5.4 billion) to fix dangerous cladding on low-rise apartment blocks by March or face new regulations that would force them to pay, Housing Secretary Michael Gove said. Gove said it was “morally wrong” that homeowners were still trapped in unsafe and unsellable apartments more than four years after the ...

  Bloomberg Inflation in the euro region accelerated beyond already record levels, defying expectations for a slowdown and complicating the task for European Central Bank officials who insist the current spike is temporary. Consumer prices jumped 5% from a year earlier in December — faster than the previous month’s 4.9% gain and more than the 4.8% median estimate in a ...

  Sharjah / WAM Bee’ah, the Middle East’s sustainability pioneer, has now become Beeah Group, adopting the structure of an investment holding company and assuming a new visual identity. As Beeah Group, the organisation is unifying its growing businesses across industries and countries, including operations in UAE, KSA, Egypt and global joint ventures. Since its founding over a decade ago, ...

  Gaza / WAM Nearly 230,000 students and teachers in the Gaza Strip will have access to clean drinking water, under the framework of a UAE Government-funded international initiative led by the Rostropovich-Vishnevskaya Foundation (RVF) based in Washington DC in the United States. Under the initiative, 125 schools managed by the United Nations Relief and Works Agency for Palestine Refugees ...

  Abu Dhabi / WAM Zayed University signed a memorandum of understanding (MoU) with Injazat, a Digital Transformation, Cloud, and Cyber Security company, to mentor students on EdTech projects. Spearheaded by Abu Dhabi’s G42, the parent company of Injazat, the partnership will see Zayed University match students from their College of Interdisciplinary Studies, with the mentors and practitioners at Injazat ...

  Bloomberg BHP Group will buy a minority stake in a Tanzanian nickel project as the world’s biggest miner seeks to expand in commodities that will be central to the green-energy transition. BHP’s investment in Kabanga Nickel Ltd. comes less than a month after the commodities giant bowed out of a bidding war for Noront Resources Ltd., which owns nickel ...

  Bloomberg President Vladimir Putin vowed to protect Russia and its ex-Soviet allies from what he called outside efforts to destabilize their governments with public protests, just days after Russian-led troops helped Kazakh authorities subdue nationwide demonstrations. “We won’t let anyone disturb the situation in our homes and won’t allow scenarios of so-called color revolutions to be played out,” Putin ...

  Dubai / WAM In his capacity as the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, has approved legislations aimed at creating a new legal framework for Dubai Chambers and their Boards of Directors. The legislations are aimed at helping Dubai Chambers achieve their strategic objectives, reinforcing Dubai’s ...

    Dubai / WAM Under the directives of HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, the Dubai Airport Freezone (DAFZ) on Sunday launched the ‘Talent Pass’ licence for freelance work (self-employment). The new licence that will be available for people with special skills and expertise from around ...