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Bloomberg UK companies are turning to cheaper overseas labour to complete their post-Brexit customs paperwork, creating jobs in countries such as Romania and India due to a shortage of trained staff in Britain. Anticipating a surge in demand for its services, Xpediator Plc, which handles freight flows for international companies, has been hiring workers in Romania. Dave Gladen, the firm’s ...

Bloomberg Pfizer Inc is on the hunt for partnerships with Chinese biotech firms developing novel drugs, as the American pharmaceutical giant regroups after Beijing’s aggressive price-cutting campaign eroded profit margins in its mainstay blockbusters. The company is embarking on a strategic shift to maintain growth in the world’s second-largest drug market after China slashed prices for off-patent medicines by more ...

Bloomberg United Nations humanitarian relief agency Unicef is looking to recruit some of the airline industry’s biggest operators to help distribute a coronavirus vaccine to the world’s poorest nations. Unicef held a call with about 40 carriers to make plans for the global airlift and to identify what commercial tasks each party can perform, according to Glyn Hughes, head of ...

Bloomberg AP Moller-Maersk A/S has launched a $1.6 billion share buyback program, as the world’s biggest container shipping company says the Covid crisis has so far dented its business less than feared. Copenhagen-based Maersk, which raised its guidance for a second time since October, reported a 39% increase in Ebitda to $2.3 billion in the third quarter. Profit by that ...

ABU DHABI / WAM Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Group CEO of the Abu Dhabi National Oil Company (Adnoc) has highlighted investment and partnership opportunities in the UAE during a panel session at the Bloomberg New Economy Forum. Speaking during the virtual session titled ‘The Rise of Regional Champions: The Search for ...

DUBAI / WAM Mohammed Bin Rashid Housing Establishment (MBRHE) has started its logistical preparations for launching the 4th edition of The Housing, Building Materials, Decoration & Engineering Consultancy Exhibition, Decobuild 2020, with the precautionary and preventive measures in place to ensure the safety of both exhibitors and visitors. The 4th edition will be held at Elbait Metwahid Hall, Al Warqa`a ...

Abu Dhabi / WAM The Abu Dhabi Department of Energy (DoE) and the Environment Agency — Abu Dhabi (EAD) held a meeting recently to discuss the progress made by the joint taskforce they had formed to promote collaboration among them to ensure the sustainability of natural ecosystems and preserve the terrestrial and marine environment of the emirate. The taskforce was ...

ABU DHABI / WAM As climate change continues to be one of the greatest challenges facing mankind today, and in light of research revealing a fast-emerging market opportunity valued at $7.1 trillion, the World Future Energy Summit has announced the introduction of a new Climate and Environment Expo & Forum, hosted in partnership with the UAE Ministry of Climate Change ...

Bloomberg South Africa’s power utility, the nation’s biggest producer of greenhouse gases that mainly uses coal for electricity generation, is working on a plan aimed at net zero emissions by 2050. Eskom Holdings SOC Ltd “has an aspirational vision” of reaching the goal, which includes the creation of jobs, the utility said in a reply to questions. “We are currently ...

Bloomberg Donald Trump is expected to issue a formal order drawing down US troops in Afghanistan and Iraq to 2,500 in each country by January 15, a US defense official said, as the president works to deliver on his longtime pledge to exit from “endless wars.” US Central Command has received an informal warning order, according to the official. The ...