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Bloomberg The UK faces three potentially catastrophic risks to its public finances, the government’s budget watchdog said, underlining the challenge confronting Chancellor of the Exchequer Rishi Sunak to restore fiscal restraint. Unfunded pressures on government departments total some 30 billion pounds ($42 billion) over the next three years as a result of the pandemic, the Office for Budget Responsibility (OBR) ...

Bloomberg Canadians are entering the second half of the year more confident about their economic prospects than they’ve ever been. Consumer sentiment marched higher to a new record last week, according to polling by Nanos Research Group for Bloomberg News, driven by optimism about the outlook for the economy and growing job security. The numbers will stoke confidence among economists ...

Bloomberg President Joe Biden’s pledge to refrain from pursuing new trade deals is leaving a key training and assistance program for workers, who the administration says are at the center of its agenda, without a clear path for renewal. Biden on July 1 officially lost Trade Promotion Authority, or TPA — the fast-track deal-making ability Congress delegates to a president ...

Bloomberg Labour markets in developed nations have recovered only half of the loss of employment they suffered in the pandemic, with the young and low-skilled hurt most. That’s the conclusion of a 400-page study by the Organisation for Economic Cooperation and Development (OECD), which found that about 22 million jobs disappeared by the end of 2020 in industrial nations. The ...

ABU DHABI / WAM The Vatican’s Foundation Gravissimum Educationis has granted the ‘Man of Humanity’ Award to His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. The Award was received by Sheikh Shakhbout bin Nahyan bin Mubarak Al Nahyan, Minister of State, on behalf of His Highness ...

Abu Dhabi / WAM CSP Abu Dhabi container terminal, the first greenfield project of Cosco Shipping Ports Limited (CSP) operating within Abu Dhabi Ports’ flagship deep-water port Khalifa Port, has announced its terminal will be the first in the Middle East to implement an autonomous port truck system. Following a two-month trial period, a total of six electric Q-Trucks will ...

ABU DHABI / WAM Abu Dhabi Emergency, Crisis and Disasters Committee, in collaboration with Abu Dhabi Public Health Centre, has updated the home quarantine guidelines for those in contact with a positive case, to protect the health and safety of all community members. Those vaccinated must quarantine for seven days and take a PCR test on day 6. If the ...

Abu Dhabi / WAM World Future Energy Summit, part of Abu Dhabi Sustainability Week, has signed key stakeholder agreements with the Ministry of Energy and Infrastructure, Bee’ah and EDF Renewables. The event, which provides a platform to showcase clean energy and sustainable projects, initiatives and developments for the Middle East – will be held in Abu Dhabi’s National Exhibition Centre ...

Bloomberg Tens of thousands of Afghan families are fleeing to escape the Taliban’s rapid advance into the country’s northern region, part of a larger refugee crisis that is brewing as the US speeds up its troop withdrawal after two decades of war. The militants have burned down farmland and forced citizens to leave their towns and villages, Mohammad Amiri, a ...

Dubai / WAM Enoc group has renewed its agreement with Meisheng Investment Development Co. Ltd for another five years, for the exclusive supply and distribution of Enoc Lubricant products in China. The agreement enables Enoc to achieve its ambitious plans of distributing more than 20 million litres of products over the next five years; meeting the increasing demand for lubricants, ...