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Bloomberg The UK could be facing a long-term increase in the size of the state as well as a substantial tax increase as a result of the coronavirus pandemic, according to the Institute for Fiscal Studies. The influential research group said on Tuesday it is “highly plausible” that government spending is around 45% of gross domestic product by the middle ...

Bloomberg Swedish confidence indicators rise for a fifth consecutive month in September, to levels not seen since the outbreak of the coronavirus pandemic. The overall economic tendency survey rise to 94.5, from a revised 87.6 in August, the National Institute of Economic Research said on Tuesday. That is the highest level since February, before the pandemic sent sentiment plunging to ...

Bloomberg Economic confidence in the euro area continued to improve in September, albeit at a slower pace as resurgent virus infections cast uncertainty over the outlook. A European Commission sentiment index rises for a fifth month to 91.1, exceeding economists’ median estimate. Yet confidence remains more than 30% below its pre-crisis level and evidence is building that the steep rebound ...

Bloomberg Germany may join other European nations in limiting the number of people at private and public gatherings in areas with high coronavirus infection rates, as officials across the continent labor to reverse a recent uptick in cases. Chancellor Angela Merkel will recommend restricting private meetings to 25 people and public gatherings to 50 people when she holds talks with ...

DUBAI / WAM Jebel Ali Free Zone (Jafza) entered into a strategic agreement with Etihad Export Credit Insurance Company (ECI) to support local businesses, advance exports, and drive the UAE economy during the current economic climate. The Memorandum of Understanding (MoU) was signed virtually by Mohammed Al Muallem, CEO and Managing Director of DP World, UAE Region and CEO of ...

NEW DELHI / WAM India’s Ministry of Civil Aviation on Monday announced a packed schedule of 270 repatriation flights out of the UAE commencing October 1 to bring back its citizens who wish to return home to face disruptions caused by the coronavirus pandemic. The ministry said its new schedule, which will run until October 25, constitutes the seventh phase ...

ABU DHABI / WAM Etihad Cargo, the cargo and logistics arm of Etihad Aviation Group, has reinforced its pharmaceutical logistics expertise with the launch of PharmaLife, a specialised pharma and healthcare product which replaces the carrier’s TempCheck product. As the first carrier in the Middle East to gain International Air Transport Association’s Centre of Excellence for Independent Validators (CEIV) certification ...

Dubai / WAM Dubai’s Roads and Transport Authority (RTA) unveiled an initiative for exempting electric vehicles licenced in Dubai from public parking fees for two years. The step supports Dubai’s Green Mobility Strategy by encouraging the use of this type of vehicles. “This initiative complements a previous initiative launched in 2018 designating parking slots in various parts of Dubai to ...

Bloomberg Devon Energy Corp agreed to acquire WPX Energy Inc in a $2.56 billion all-stock deal, creating one of the largest independent US shale producers and answering investor calls for consolidation at a time of crisis for the sector. Devon shareholders will own about 57 percent of the combined company, Devon and WPX said on Monday in a statement. The ...

Bloomberg President Donald Trump and Democrat Joe Biden square off for 90 minutes in their first debate on Tuesday and political pros on both sides are fretting the most about a viral moment that can turn a good performance into a disaster that’s remembered for generations. A single ill-advised answer could turn off a crucial demographic in a battleground state. ...