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  Bloomberg Energy regulator Ofgem will raise its price cap for the average UK home by 21% to £4,279 ($5,173) from January, underscoring the growing gap the government has to plug to maintain its price freeze. The UK has been subsidising Ofgem’s price cap since October in an attempt to shield households from the worst energy crisis in decades. That ...

  Bloomberg Signs are growing in China that local government debt burdens are becoming unsustainable. China’s 31 provincial governments have a stockpile of outstanding bonds that’s close to the Ministry of Finance’s risk threshold of 120% of income. Breaching that line could mean regions will face more regulatory hurdles to borrow, hampering their ability to drive up economic growth. In ...

  Bloomberg India wants to narrow its budget deficit by at least 50 basis points, according to people familiar with the matter, as authorities balance global investor scrutiny with the need for higher spending as the nation enters an election year. Finance Minister Nirmala Sitharaman will seek to shrink the shortfall to less than 6% of gross domestic product in ...

Bloomberg A South Korean official said the government is considering issuing an order to disband a strike by truck drivers that has blocked ports and industrial complexes, hampering supplies of key exports. “We are doing our best to minimize supply disruptions and taking emergency steps,” said Transport Minister Won Hee-ryong during a visit to the port of Busan on Thursday. ...

Bloomberg Baidu Inc. posted a surprise gain in revenue after cost cuts helped prop up the bottom line and online advertising held up better than anticipated against China’s economic downturn. Sales rose slightly to 32.5 billion yuan ($4.6 billion) in the September quarter, beating expectations for 31.8 billion yuan. The company posted a net loss of 146 million yuan in ...

ABU DHABI / WAM In the United States and the UAE, pluralism and diversity are a source of national strength, a senior US diplomat told the Emirates News Agency (WAM). “I believe that in both the United States and in the UAE, as the US National Security Strategy states, ‘pluralism, inclusion, and diversity are a source of national strength in ...

  Abu Dhabi / WAM As part of its ongoing initiatives and efforts to improve business environment and develop a single platform for economic licences, the Abu Dhabi Department of Economic Development (Added), has completed the e-link project with four freezones including Kezad group, which consist of 12 economic zones, Abu Dhabi Airports Free Zone, the Media free Zone- Abu ...

  Abu Dhabi / WAM The Emirates Safer Internet Society (eSafe) has announced the launch of its first international conference to discuss methods for the safety of children online and responsible use of smart devices entitled, “Children’s Well-being in a Digital World”, on February 6, 2023, at the Anantara Eastern Mangroves Abu Dhabi. The event will be organised under the ...

  Bloomberg Foxconn Technology Group has begun offering 10,000 yuan ($1,400) to any workers who choose to leave, an unusual decision intended to appease disgruntled new hires who played a central role in violent protests that rocked the world’s largest iPhone factory. Apple Inc.’s main global production partner said in an online notice the sum, to be paid out in ...

Bloomberg Anwar Ibrahim, the almost man of Malaysian politics, finally clinched the country’s premiership after decades of waiting. Now, the reformist leader must make sure that he keeps the job. That won’t be easy in a nation that’s now had four prime ministers in four years. Former finance chief Anwar is likely to control an unstable majority and his administration ...