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Bloomberg AP Moller-Maersk A/S expects shipping markets to remain tight at least into the first quarter with global container demand set to grow faster than previously expected. The world’s largest shipping line said global ocean-based freight shipping will grow between 7% and 9% this year, a percentage point higher than a previous prediction, according to a statement. “Our clients are ...

Bloomberg A lot of the content on Facebook’s social-media services may be seen as being toxic, but that hasn’t stopped investors from pouring money back into beaten-down stock. Shares of the social media giant, now known as Meta Platforms Inc, posted their first weekly gain since early September, before a trove of internal data from a whistle-blower unleashed another round ...

Bloomberg Apple Inc, bolstering its car-development efforts, hired a former engineer from Tesla Inc. who drew controversy this year for remarks about that company’s Autopilot feature. The iPhone maker tapped Christopher “CJ” Moore for its team working on a self-driving car, according to people with knowledge of the matter. Moore is working on the effort’s software, reporting to Stuart Bowers, ...

Bloomberg BMW AG earnings jumped to beat expectations after higher vehicle prices and prioritizing money-spinning models like the $75,000 X7 SUV helped the company offset output reductions due to the dearth of chips. Group earnings before tax surged 50% to 2.9 billion euros ($3.4 billion) in the third quarter, BMW said, compared with an average analysts’ estimate of 2.5 billion ...

Bloomberg Ferrari NV slightly raised its full-year profit target after the Italian supercar maker managed to dodge most of the supply-chain snarls weighing on mass-market automakers. Ferrari forecasts adjusted earnings before interest, taxes, depreciation and amortisation of about $1.76 billion for 2021 after a jump in third-quarter shipments and profit, it said. New Chief Executive Officer Benedetto Vigna is under ...

Abu Dhabi / WAM Al Seer Marine, a marine company that is engaged across multiple marine sectors and a subsidiary of International Holding Company (IHC), on Wednesday announced its financial results for the period ending September 30. Over the nine-month period, the company’s net profit jumped to AED2.45 billion from AED25.40 million in the corresponding period a year ago. The ...

GLASGOW / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, and Head of the UAE delegation to the 26th Conference of Parties to the United Nations Framework Convention on Climate Change – UNFCCC (COP26), attended on Wednesday the official launch ceremony of the Energy Transition Accelerator Financing (Etaf) Platform, a new global ...

ABU DHABI / WAM The UAE has announced the provision of AED36.7 million ($10 million) to contribute to the reconstruction of some Turkish regions that were affected by wildfires and floods that swept through these areas. The move follows the directives of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of ...

ABU DHABI / WAM Hub71, Abu Dhabi’s global tech ecosystem, and the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi), signed a Memorandum of Understanding (MoU) on Wednesday to further progress the technological development and future planning of Abu Dhabi’s culture and tourism sectors. In line with DCT Abu Dhabi’s strategic vision of digital transformation to enhance ...

DUBAI / WAM The governments of the UAE and Germany have discussed ways of establishing a framework for launching new action plans in the energy sector as part of the completion of the “Declaration of Intent” of the joint cooperation signed by both countries in 2017. Both sides agreed to launch an extensive programme that includes forming an action team ...