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Bloomberg Slumping US new car sales in May on continued high prices and low inventories have some analysts worried those lower-than-expected results could be a harbinger of a broader economic downturn. Sales of new cars last month fall to 12.8 million vehicles at a seasonally adjusted annualized rate, representing an 11% drop from April, according to data compiled by Wards ...

Bloomberg Toronto home prices fell for the third straight month, as rising interest rates spur an abrupt reversal in a city recently at the heart of one of the world’s hottest housing markets. The average selling price for a home in Canada’s largest city fell 3.1% in May to about $939,000 on a seasonally-adjusted basis, according to data from the ...

  Bloomberg Telecom Italia SpA is seeking an enterprise value of around 20 billion euros ($21.5 billion) for the landline network it plans to sell to Italy’s state lender and a group of international funds, according to people with knowledge of the matter. The company’s shares rise as much as 5.9% and traded up 4.5% in Milan following Bloomberg’s initial ...

  Abu Dhabi / WAM Adnoc Logistics & Services (Adnoc L&S), the shipping and maritime logistics arm of the Abu Dhabi National Oil Company (Adnoc) and the region’s largest shipping and logistics company, announced on Thursday its decision to purchase three additional liquefied natural gas (LNG) vessels. Adnoc L&S is the region’s largest shipping and integrated logistics company and the ...

  Ajman / WAM Ajman Free Zone (AFZ) announced a remarkable growth of 45 percent in its e-commerce sector since the beginning of this year, reaffirming AFZ’s position as a global business hub with advanced solutions and state-of-the-art facilities. The announcement was made during AFZ’s attendance in the Seamless Middle East 2022 conference. The latest results can be attributed to ...

  Abu Dhabi / WAM Abu Dhabi Health Services Company (Seha) has implemented artificial intelligence (AI) at 11 of its healthcare centres for significantly faster reading and interpretation of retinal images. In line with Seha’s commitment to enhancing patient outcomes through the latest innovations, the new service will largely benefit Seha’s diabetic patients and facilitate early detection and intervention of ...

Bloomberg As Russia’s invasion of Ukraine settles into a grinding war of attrition, one question more than any other will likely decide the outcome: On whose side is time? Much of what unfolds will be determined by unpredictable battlefield dynamics, especially as Russian forces attempt a dash for territory in eastern Ukraine before heavy artillery from the US and elsewhere ...

Bloomberg The Biden administration announced $2.1 billion in new funding to bolster food supply chains, including the efforts to support smaller processors and help farmers shift to the organic production. The initiatives will begin to have an impact on lowering food inflation “as we get in the tail end of 2022 and into 2023,” Agriculture Secretary Tom Vilsack told reporters ...

  Abu Dhabi / WAM Mubadala Petroleum on Wednesday announced it had reached half a million Barrels of Oil Equivalent a Day (boed) for the first time in its history. This achievement further establishes the company as a strategic player in the international energy sector and marks a 22 percent increase in production from 2021. The landmark was reached following ...

  Dubai / WAM Abu Dhabi Fund for Development (ADFD) has launched the Tamkeen programme for vocational training to support the UAE’s effort to build a knowledge economy by investing in skill development of Emiratis. Supervised by experts and specialists from ADFD, the training covers diverse areas such as investment, project management, financial affairs, internal auditing, information technology, media and ...