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Bloomberg Europe’s latest lockdowns are presenting citizens with even more hurdles to spending money, swelling already-hefty savings that stand ready to fuel the recovery once vaccines tame the pandemic. Households in the euro zone accumulated a mountain of cash when businesses shut in the spring. Now in a lengthening second wave of closures, they are sitting on about $615 billion ...

Bloomberg Chancellor Angela Merkel extended Germany’s lockdown and tightened restrictions as pressure mounts on her government to contain the coronavirus spread and speed up vaccinations. With hundreds dying each day, political tensions have been high and threaten to escalate further amid a rising tide of criticism over the government’s strategy to distribute a Covid-19 shot. At an ill-tempered meeting, Merkel ...

Bloomberg A measure of US manufacturing expanded in December at the fastest pace in more than two years, bolstered by a pickup in new orders and the strongest growth in production since 2011. A gauge of factory activity unexpectedly increased to 60.7 from 57.5 a month earlier, according to Institute for Supply Management data. Readings above 50 indicate expansion and ...

Bloomberg UK businesses were suffering even before the latest lockdown, leaving many in a precarious position as they enter new restrictions with what many say is insufficient government support, a survey showed. The findings from the British Chambers of Commerce in November add to pressure on Chancellor of the Exchequer Rishi Sunak to extend aid to companies beyond the $12,000 ...

ABU DHABI / WAM “Gulf Cooperation Council (GCC) countries share the same destiny,” this is a phrase followed by the UAE in words and actions from the first GCC summit held on Monday, May 25, 1981, to the 41st GCC Summit held in Al Ula, Saudi Arabia. The UAE still believes that GCC countries share the same destiny, as the ...

Abu Dhabi / WAM Emirates Global Aluminium (EGA), the largest industrial company in the UAE outside oil and gas, on Tuesday announced that its Al Taweelah alumina refinery, the first in the UAE, has delivered sustained monthly production at or above nameplate capacity each month for the past three months. The milestone marks the completion of a world-class ramp-up of ...

Abu Dhabi / WAM Etihad Airways announced the launch of its New Year’s sale – get two tickets for the price of one. Fares from Abu Dhabi to Istanbul start from just AED1,790, Dublin from AED3,830 and Toronto from AED5,790. The sale extends across all of Etihad’s cabins, with return Business fares starting from AED8,750 out of Abu Dhabi to ...

Sharjah / WAM Irthi Contemporary Crafts Council, an affiliate of the Nama Women Advancement Establishment, has broadened the global appeal of the UAE’s timeless, indigenous craft traditions through collaborations with entities at the forefront of the international design and cultural landscape. Teaming up with Dezeen, an influential architecture and design magazine and digital platform, Irthi showcased a selection of its ...

Bloomberg US lawmakers are receiving urgent security instructions in advance of potential violence in Washington tied to protests as Congress meets to certify Joe Biden as the next US president. The precautions to members of the House and Senate include guidance to use underground tunnels while traveling between chambers in the Capitol and to nearby office buildings during the day. ...

Bloomberg Chancellor of the Exchequer Rishi Sunak rolled out 4.6 billion pounds ($6.2 billion) of new support to help UK businesses forced to close during the pandemic, as the country enters its third lockdown. Retail, hospitality and leisure businesses will be entitled to one-off top up grants of as much as 9,000 pounds ($12,233) to tide them over until the ...