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  Bloomberg China’s economy ended the year in a major slump as business and consumer spending plunged in December, with more disruption likely in the first few months of the year as Covid infections surge across the country. Official data showed the decline in manufacturing worsened last month, while activity in the services sector plunged the most since February 2020. ...

Bloomberg Germany is open to using billions of euros in frozen Russian assets to help Ukraine rebuild as long as legal issues can be resolved and allies follow suit. Chancellor Olaf Scholz’s government supports Ukraine’s demand for war reparations but hasn’t yet taken an official position on seizing assets from the Russian state. The issue is complex and some parts ...

Abu Dhabi / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, chaired the first UAE cabinet meeting of the New Year 2023 at Qasr Al Watan Abu Dhabi, in the presence of HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime ...

  Abu Dhabi / WAM Under the patronage of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, Adnec group is set to host the 16th edition of the International Defence Exhibition and Conference (Idex 2023) and the 7th edition of the Naval Defence Exhibition and Conference (Navdex 2023), which will take place on February 20-24. Organised by Adnec group ...

  Abu Dhabi / WAM Executives working in the UAE government and private sectors have begun to use artificial intelligence (AI) in diverse areas of their daily work, thanks to an Executive Programme hosted by Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) in Abu Dhabi, according to a senior official. Sultan Al Hajji, vice president of public affairs and ...

  Bloomberg The drop for home prices in Sweden continued unabated in the last month of the year, suggesting that 2023 could offer little relief for an already troubled housing market. Prices across the country are now down almost 17% since a peak in the spring, according to state-owned mortgage lender SBAB. The worst slump for the market since the ...

Bloomberg Brazilian assets tumbled on the first session of 2023 as traders digested plans by President Luiz Inacio Lula da Silva to use state-owned companies to drive economic growth. Petrobras slumped as much as 6.9% in Sao Paulo, the main drag on the benchmark Ibovespa index, which fell 3.1% as of 11:47 am. Lender Banco do Brasil SA dropped as ...

Bloomberg Germany vowed to crack down on people responsible for violence around the weekend’s New Year celebrations, in which dozens of police, paramedics and firefighters were injured. “The government, and of course the chancellor as well, condemns these at times massive attacks in the strongest possible terms,” Christiane Hoffmann, a spokeswoman for Chancellor Olaf Scholz, said on Monday at the ...

Bloomberg European natural gas prices started the New Year declining as mild weather curbed demand. Benchmark futures dropped 7.9% to the lowest level since February 21, extending three weeks of net declines. Weather forecasts point to temperatures above seasonal norms for most of the region in next two weeks, which will help Europe avoid depleting its stocks too soon as ...

Bloomberg President Xi Jinping said tough challenges remain in China’s fight against Covid-19 and acknowledged divisions in society that led to rare spontaneous protests, after weeks of silence on a virus policy pivot that’s infected hundreds of millions and delivered a severe blow to economic activity. In a New Year’s address, Xi said the country is in a new phase ...