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  Dubai / WAM DP World has won an important award from the International Association of Ports and Harbors (IAPH), recognising its work to plant new mangrove forests around the Guayaquil port in Ecuador. DP World Posorja, which operates the port, earned first place in the Climate and Energy category for its ‘Sembrando Vida’ mangrove project, competing alongside 237 schemes ...

  SHARJAH / WAM Young visitors are flocking to the Emirates Publishers Association (EPA) stand at the ongoing 13th Sharjah Children’s Reading Festival (SCRF) where under its ‘Manassah’ platform, the entity is showcasing a bouquet of titles in diverse genres by Emirati publishers. Amongst the popular books at EPA’ stand, targeting children of all age groups, includes Scribbles, a creative ...

Bloomberg French electricity prices climbed after the region’s biggest producer cut its nuclear output target for a third time this year, the latest sign that the region’s power crisis is worsening. Less output from Electricite de France SA’s fleet, the backbone of Europe’s integrated power system, is sending prices higher just as soaring inflation is pushing up costs for everything ...

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 ...