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Bloomberg German unemployment surged in June as one of country’s leading economic research institutes warned of a slower-than-expected economic recovery from the coronavirus pandemic. Another sharp gain last month has taken the number of job losses in the second quarter to 678,000 and the total to just below 3 million, a threshold not broken since 2011. Yet more redundancies were ...

Bloomberg Factories across the euro area recorded a stronger performance than initially reported in June, with consumer-goods producers growing again. But despite countries easing restrictions and life slowly returning to normal, output continued to contract and demand — especially among exporters — remained weak. In a sign that the pandemic has been inflicting lasting damage on the economy, all of ...

Bloomberg As the Eiffel Tower gradually reopens from an extended shutdown, an essential segment of the summer tourist trade will be missing: Americans touching down in Paris on lucrative trans-Atlantic flights. Voyagers from New York, Houston or Los Angeles will have to hold off on their overseas vacations after European Union governments extended a travel ban from Wednesday, deeming the ...

Dubai / WAM DMCC — the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise, announced the signing of a Memorandum of Understanding (MoU) with the Guangzhou Diamond Exchange (GZDE) establishing a strategic partnership with one of China’s leading international diamond trading platforms and communities. The agreement strengthens bilateral ties between the UAE and China, ...

DUBAI / WAM flydubai, the Dubai-based airline, announced a partnership with its passengers as the airline prepares to return to the skies following the lifting of the flight restrictions in the UAE. Ghaith Al Ghaith, Chief Executive Officer of flydubai, said: “The effectiveness of the response to the pandemic led by the UAE Government has enabled the flight restrictions to ...

DUBAI / WAM The Telecommunications Regulatory Authority (TRA) and the International Telecommunication Union (ITU) announced the signing of an agreement to establish an International Centre of Digital Innovation, known as I-CoDI. I-CoDI will help ITU Members, Sector Members and other key stakeholders to integrate innovation into their national development agendas and activities. The centre, to be based in Geneva, Switzerland, ...

Sharjah / WAM The Sharjah Book Authority (SBA) announced that the entirety of the 14,625 square metre exhibitor space at the Sharjah Expo Centre has been sold out, with thousands of purchases by publishers from across the world for the 2020 edition of the Sharjah International Book Fair (SIBF) which is scheduled for November. For industry professionals worldwide, SIBF is ...

Bloomberg China’s state-owned oil refining giants are in discussions to form a purchasing group to buy crude together, increasing their bargaining power and avoiding bidding wars. Senior executives from China Petroleum & Chemical Corp, PetroChina Co, Cnooc Ltd and Sinochem Group Co are in advanced talks to iron out details of the plan, said people familiar with the initiative, who ...

Bloomberg India banned ByteDance Ltd’s viral short-video service TikTok and 58 other Chinese apps, citing threats to its sovereignty and security as relations between the world’s two largest populations worsened. The unprecedented moratorium, announced days after border tensions in the Himalayas left 20 Indian soldiers dead, deals a blow to the most prominent names in Chinese technology. The banned services ...

Bloomberg Vietnam’s economy unexpectedly grew in the second quarter, though at the slowest pace in at least a decade, as exports slumped because of the coronavirus pandemic. Gross domestic product rose 0.36% from a year earlier, compared with a revised 3.68% in the first quarter, the General Statistics Office said on Monday in Hanoi. The median estimate in a Bloomberg ...