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Bloomberg Watch out for the fate of Europe’s small import-export exposed businesses, as chaos in global supply chains continues to hurt that corner of the continent’s economy. The cost of hauling 40-foot boxloads of goods to Rotterdam from Shanghai surged to $13,787 per unit, according to Drewry Shipping. The average at this time of year over the prior five years ...

Bloomberg Germany is seeing its biggest surge in imported inflation since the early 1980s, putting a price tag on the difficulties businesses are facing to secure inputs amid a worsening supply squeeze. In July, goods arriving in the country from abroad were 15% more expensive than a year ago, data show. The cost of basic goods increased about 19% and ...

Bloomberg The odds Audi decides to start building vehicles in the US are rising as parent Volkswagen AG electrifies its lineup, the luxury-car maker’s chief executive officer said. The VW group’s strategy to bring down the cost of electric vehicles involves developing common platforms to underpin models across its many brands to conserve costs. The first, dubbed MEB, is the ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, met on Saturday with HH Sheikh Tamim bin Hamad Al Thani, Emir of the sisterly State of Qatar, on the sidelines of the “Baghdad Conference for Cooperation and Partnership”, held in the Iraqi capital, Baghdad. HH Sheikh ...

Abu Dhabi / WAM HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Presidential Affairs, and President of Abu Dhabi Judicial Department (ADJD), has approved the ADJD’s new Strategic Plan 2021-2023. The new plan constitutes a starting point in the process of developing the judicial work during the next phase, to achieve judicial leadership on a global ...

Abu Dhabi / Emirates Business The Abu Dhabi Securities Exchange (ADX) has reduced its trading commissions by 50% and will extend its trading hours by one hour, with the market opening at 10am and closing at 3pm. The reduction in trading fees, to 0.025% from 0.05%, which will take effect starting September 1, is the exchange’s second commission cut in ...

DUBAI / Emirates Business Dubai Design District (d3) launched a campaign to inspire the next generation Emirati Women, encouraging them to shape their future with their own hands. The leading business hub partnered with three of its leading Emirati entrepreneurs, and they will be featured in a new campaign for Emirati Women’s Day. Shafia Alkhyeli, founder of interior design practice ...

Bloomberg US forces carried out a strike in Afghanistan against the terrorist organisation believed responsible for the devastating bombing that killed at least 88 people near the Kabul airport a day earlier. “US military forces conducted an over-the-horizon counterterrorism operation on Saturday against an IS-K planner,” said Captain Bill Urban, a spokesman for US Central Command. He added that the ...

Abu Dhabi / WAM Abu Dhabi National Exhibitions Company (Adnec), the emirate’s premier event venue is gearing up to host a wide variety of world-class exhibitions, conferences and events in the UAE capital and has announced its calendar for the rest of 2021. Khalifa Al Qubaisi, Chief Commercial Officer at Adnec, said, “Hosting such major international conferences and exhibitions highlight’s ...

Abu Dhabi / WAM The Abu Dhabi Department of Energy (DoE) and the International REC Standard Foundation (I-REC Standard) signed a local Issuer agreement, formalising DoE’s position as the sole issuer of RECs in the emirate of Abu Dhabi. Commenting on the newly signed agreement, Eng. Awaidha Murshed Al Marar, Chairman of the Abu Dhabi Department of Energy, said, “With ...