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KOPIKO, INDONESIA / GULF TIME Sheikh Mohammed bin Sultan bin Khalifa Al Nahyan, President of the UAE Marine Sports Federation and Chairman of the Board of Directors of the Abu Dhabi Marine Sports Club, met the Emirati teams participating in the first round of Formula 1 World Championship, held in the city of Kopiko on Lake Toba, Indonesia. Sheikh Mohammed ...

DUBAI / WAM The UAE Government Media Office announced the success of the third edition of the “World’s Coolest Winter” campaign, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on December 2022, in Al Zorah Natural Reserve in Ajman. The campaign promoted tourism, natural sites and ...

BLOOMBERG Supply chains across the world are healing up almost as fast as they broke down. That doesn’t mean the pressure they’re exerting on inflation will disappear as quickly. Take the cost of shipping containers. Spot rates from Asia to the US West Coast increased more than 15-fold during the pandemic and have since returned to pre-Covid levels as trade ...

BLOOMBERG American Car Center told employees the business was closing its doors, a day after it pulled a $222 million bond sale from the market, according to people familiar with the matter. The used car retailer, which tends to target consumers regardless of their credit history, said in an email to employees the firm was ceasing all operations, closing its ...

BLOOMBERG Germany and India agreed to partner on technology to make a transition to renewable energy easier, and deepen defense cooperation and trade during Chancellor Olaf Scholz’s first visit to the South Asian nation as leader. “We want to further strengthen trade ties between the European Union and India,” Scholz said in New Delhi after meeting Indian Prime Minister Narendra ...

BLOOMBERG Germany has set aside more than €260 billion ($275 billion) to deal with the immediate risks of an energy crisis triggered by Russia’s war in Ukraine, but the ultimate fix will be much costlier — if the country can pull it off at all. The pending price tag for future-proofing the country’s energy system is projected to amount to ...

BLOOMBERG Thailand’s major political parties are ramping up their policy promises to cement a foothold in regional bastions ahead of a general election in May. Campaigning in north Thailand’s Chiang Rai province, the main opposition Pheu Thai Party vowed to triple farmers’ income during the first four years in office if elected. That will be achieved by introducing new farming ...

BLOOMBERG India’s main opposition Congress party said it will forge alliances with some regional groups to challenge Prime Minister Narendra Modi’s government in next year’s general elections. Congress had formed coalition governments from 2004 to 2014 with “friendly allies” and will forge alliances with like-minded political groups for the 2024 polls, party President Mallikarjun Kharge said. Congress’ top leadership are ...

BLOOMBERG A deal with the European Union over trade barriers in Northern Ireland could be struck in the coming  days, deputy Prime Minister Dominic Raab has said. “Hopefully there’ll be good news in a matter of days, not weeks.” Raab said in an interview with Sky News’ Sophy Ridge. “We are not there yet. But we are obviously in a ...

BLOOMBERG China will host the president of Belarus in a state visit this week, welcoming an ally of Vladimir Putin as the US expresses concerns that Beijing may yet decide to provide weapons support to Russia that would assist it in its war in Ukraine. Alexander Lukashenko is visiting at the invitation of President Xi Jinping, China’s foreign ministry said ...