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Bloomberg President Joe Biden said the US economy is recovering from the pandemic faster and stronger than expected, after a report showing the labour market got back on track last month with broad-based payroll gains. “America is getting back to work; our economy is starting to work for more Americans,” Biden said at the White House. “Our economy is on ...

Bloomberg CMA CGM SA, one of the world’s largest shipping companies, agreed to buy Fenix Marine Services, which operates a container terminal in the Port of Los Angeles, in a deal with an enterprise value of $2.3 billion. CMA CGM reached the agreement with EQT Infrastructure, according to a statement. The shipper, which already owned a 10% stake in the ...

Bloomberg Canada’s labour market continued to heal in October as retail businesses ramped up hiring, though the pace of gains has begun to cool. The economy added 31,200 jobs last month, Statistics Canada said in Ottawa, missing expectations for a gain of 41,600 in a Bloomberg survey of economists. The unemployment rate falls to 6.7% from 6.9% in September, and ...

Bloomberg AP Moller-Maersk A/S expects shipping markets to remain tight at least into the first quarter with global container demand set to grow faster than previously expected. The world’s largest shipping line said global ocean-based freight shipping will grow between 7% and 9% this year, a percentage point higher than a previous prediction, according to a statement. “Our clients are ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on Wednesday toured the pavilions of Greece, Australia, Slovak Republic and Estonia at Expo 2020. Speaking during the tour, His Highness said, “Expo 2020 has created a wonderful platform for celebrating the richness, breadth and diversity of ...

Abu Dhabi / WAM Department of Health – Abu Dhabi, the regulator of the healthcare sector in the emirate, in collaboration with Rafed, the UAE’s primary group purchasing organisation (GPO) for the supply chain of essential medical equipment, has announced the procurement of AstraZeneca’s AZD7442 medication. The new medication is specifically designed to prevent severe infection and death in non-vaccinated ...

Dubai / WAM Nakheel on Wednesday launched the new “Jebel Ali Village”, a redevelopment of one of the most treasured areas of Dubai into an upscale residential community. Jebel Ali Village will be transformed into a gated, hillside collection of luxury villas set among lush green spaces. The first phase of four and five bedroom villas is on sale from ...

Bloomberg The Royal Dutch Shell Plc is looking into developing a production site next to a Swedish nuclear power plant to make synthetic sustainable jet fuel for Scandinavian airline SAS AB. Together with plant operator Vattenfall AB and synthetic fuel maker LanzaTech Inc, the companies agreed to investigate starting a facility that could provide SAS with a quarter of its ...

Bloomberg The first official delegation of European lawmakers landed in Taipei, defying warnings from China that the bloc’s support for the democratically ruled island would have dire consequences. The group from the European Parliament’s special committee on foreign interference is scheduled to meet top political leaders while in Taiwan, including President Tsai Ing-wen and Premier Su Tseng-chang during the three-day ...

GLASGOW / WAM The Agriculture Innovation Mission for Climate (AIM for Climate) — a major new initiative led by the United Arab Emirates (UAE) and United States (US) with the support of over 30 governments — officially launched on Tuesday and announced an “early harvest” of $4 billion of increased investment to accelerate innovation for climate-smart agriculture and food systems ...