Latest News
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A lot of Gulf shares up as cooler US inflation alleviates rate cut issues
The majority of stock markets in the Gulf were up on Monday, after coolerthanexpected U.S. inflation data revived expect further policy relieving by the Federal Reserve. Following the November inflation information in the world's biggest economy, traders raised their rate cut bets for 2025, now expecting a cut in March and another by October. The Fed's choices have a considerable influence on the Gulf region's monetary policy, as most currencies there are pegged to the U.S. dollar. Dubai's benchmark stock index extended its rally to a 3rd straight session, rising 0.4%, pushed up by market, real estate and finance stocks. Tolls operator Salik Company gained 1.4% and Emirates NBD, the Dubai's. largest loan provider, included 1%. Shares of Emaar Residences were up for a. 3rd day, increasing 0.8% to their greatest in more than 18 years. The blue-chip developer said last Monday it had actually prepared to. state dividends at 100% of share capital for 2024 and the next. couple of years, totaling up to 8.80 billion dirhams ($ 2.4 billion). Saudi Arabia's benchmark stock index increased 0.3%,. assisted by gains in financing, energies and energy sectors. The insurance provider Medgulf climbed 3% after it tattooed a. contract to provide medical insurance services to the state-owned. Saudi Electricity. To name a few gainers, Knowledge Economic City Business. gained 1.3% after the designer said it has actually signed an. agreement with Sidra Capital and Raseel Characteristics to develop. a 1.04 billion riyals ($ 276.75 million) investment fund. The Abu Dhabi benchmark index was up 0.2%,. supported by a 2% gain in Abu Dhabi National Energy Company . Energies and energy company TAQA stated on Friday that. its 43%- owned Masdar had finished the acquisition Of Saeta. Yield for an implied enterprise value of EUR 1.2 billion ($ 1.25. billion). The Qatari standard index relieved 0.1% with Qatar. Islamic Bank shedding 0.8%. Industries Qatar. gained 0.6%.
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British Company - Dec 23
The following are the leading stories on business pages of British papers. Reuters has not validated these stories and does not attest their accuracy. The Times - A previous consultant to a UK prime minister has actually been accused of being a co-conspirator in the U.S. Department of Justice's. prosecution of Gautam Adani in the $250 million bribery case. - Swisscom's planned acquisition of Vodafone Italia. in an 8 billion euro ($ 8.36 billion) offer has actually been. cleared by Italy's competitors watchdog and its industry. ministry. The Guardian - Diageo's leading stout beer Guinness has robbed. its reserves in Ireland to increase shipments to the UK, where a. social media-fuelled surge in need has actually left some bars facing. shortages. - The British Chambers of Commerce (BCC) stated that lots of. exporters are still struggling with post-Brexit trading guidelines as. it urges the federal government to push ahead with an EU reset in the. brand-new year. The Telegraph - Britain's Thames Water is at a threat of defaulting on its. financial obligations no matter a proposed 3 billion pound ($ 3.77. billion) bailout, credit ranking company S&P Global stated. - Yodel CEO Mike Hancox has actually released a claim versus Jacob. Corlett, who had sought a merger with the business earlier this. year, after the business owner's rescue deal stopped working. Sky News - Electric cargo bike logistics company Zedify has actually launched. an urgent hunt for new backers and is working with Interpath. Advisory on an evaluation of its financing alternatives. The Independent - UK's House of Commons leader Lucy Powell stated British. Prime Minister Keir Starmer might present a brand-new law to obstruct. Elon Musk from contributing to Reform UK, guaranteeing the UK electoral. system is secured from the concerns that undermine democracy.
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Singapore Post fires CEO over handling of whistleblower report
Singapore Post stated on Sunday it had actually dismissed its chief executive and 2 other senior managers after an internal investigation discovered they had mishandled whistleblower claims about misconduct by company employees. The company's shares plunged by the most in over four years as the city-state's bourse opened for trading. The stock plunged as much as 9.8%, its greatest intraday loss since March 2020. The alleged misbehavior reported by the whistleblower associated to a number of staff members who worked in the business's international e-commerce logistics parcels service, the company stated in a. statement, without giving additional information. The company had received a whistleblowing report alleging that. 3 unnamed workers had either approved or by hand updated. a delivery failure status code for parcels, although no. shipment was done, the statement stated. CEO Vincent Phang, the chief of the business's worldwide. organization unit Li Yu, and Chief Financial Officer Vincent Yik had. been dismissed after the company discovered they had been irresponsible. in dealing with the case and misrepresented it before an audit. committee, it included. Chair Simon Israel will manage senior management of. Singapore Post in the interim. The company stated it prepared to. reveal a brand-new CEO in due course. Singapore Post also said it will pay a settlement to the. consumer, whose information the company did not reveal. Phang and Yik have actually shown they will strongly contest. the termination of his employment, both on benefits and on the. premises of procedural unfairness, the business stated. The company has been undergoing a tactical evaluation under which. it is offering Australian possessions to personal equity Pacific Equity. Partners for A$ 1.02 billion
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Sleeping woman killed when set on fire on New york city subway train, police state
Police arrested a male they stated set a female on fire while she appeared to be asleep on a. New york city City subway train on Sunday early morning, killing her. The female, who has not been recognized, sat motionlessly. aboard a fixed F train at the Coney Island-Stillwell Opportunity. train station in Brooklyn at about 7:30 a.m. (1230 GMT) when an. unidentified guy approached her and used a lighter to set her. clothing on fire, the New york city Authorities Department said. Cops. said there was no interaction before the attack and they did not. think the two individuals understood each other. The guy left the car as policemans on patrol in the. station hurried to the blaze. What they saw was an individual standing inside the train automobile. totally engulfed in flames, New York Cops Commissioner Jessica. Tisch said at an interview. The officers used fire extinguishers to put out the fire and. the woman was pronounced dead at the scene by emergency. responders, authorities said. Authorities arrested a suspect, who has actually not been publicly. determined, as he rode the train later on Sunday. Police said they were still investigating the victim's. identity and the factor for the attack. About 4 million journeys are taken each weekday on the city's. subway, where violent crime is relatively uncommon. As of November,. there had been 9 murders reported on the subway in 2024,. compared to 5 in the same period in 2023, according to cops. data. Earlier this month, a jury acquitted Daniel Penny of. criminally negligent homicide in the death of Jordan Neely, a. homeless previous Michael Jackson impersonator, on the city's. train. Neely had actually been yelling angrily at passengers on a. subway train when Cent got him from behind and limited. him in a chokehold for a number of minutes.
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Russian president satisfies Slovak PM as Ukraine gas transit agreement nears expiry
Russian President Vladimir Putin satisfied Slovak Prime Minister Robert Fico in the Kremlin on Sunday, Russian television speaker Pavel Zarubin said, as a contract allowing for Russian gas to transit through Ukraine nears its expiry date. Slovakia depends on gas going through Ukraine, and Fico has actually criticised Ukrainian President Volodymyr Zelenskiy for refusing to extend the contract, which expires at the end of the year. Kremlin spokesperson Dmitry Peskov later on informed the TASS news company that the talks had actually ended. He said the two leaders would not issue a joint declaration. Peskov, shown in a video posted earlier on Zarubin's. account on the Telegram messaging app, said the conversations were. sure to concentrate on gas transit and the existing global. scenario. He stated the Kremlin meeting had actually been set up a few. days earlier. Russian tv revealed the two leaders shaking hands. at the start of their talks. The Slovak federal government workplace might not be instantly. grabbed remark and did not immediately respond to emailed. questions. The pro-Russian Fico is just the 3rd European leader. to go to Putin at the Kremlin since Russia got into Ukraine in. February 2022. He follows Austrian Chancellor Karl Nehammer, who. visited in April 2022, and Hungarian Prime Minister Viktor. Orban, who went to Moscow last July. Ukraine has repeatedly stated it will not extend the. transit deal with Russia almost 34 months into a war between the. neighbours. GAS TRANSIT Slovakia, which has a long-term contract with Russian. huge Gazprom, has actually been attempting to keep getting gas. through Ukraine, saying buying elsewhere would cost it 220. million euros ($ 229 million) more in transit expenses. Fico pushed the topic on Thursday at a European Union. top in Brussels, which was likewise attended by Zelenskiy, who. repeated that his country would not continue the transit of. Russian gas. The Slovak prime minister has likewise spoken of solutions. under which Ukraine would not transit Russian-owned gas, however. rather gas owned by somebody else. Fico has looked for to keep ties with Moscow. Because taking. power in 2015, he has actually stopped state military help to Kyiv, has. stated the war with Russia does not have a military option and. has criticised sanctions versus Moscow. Hungary will continue to receive Russian gas from the. south, via the TurkStream pipeline on the bed of the Black Sea,. although it had actually been eager to keep the Ukrainian route as well. Ex-Soviet Moldova has actually also depended on gas transiting. Ukraine to provide its needs and those of its separatist. Transdniestria enclave, consisting of a thermal plant which offers. the majority of the electrical power for parts of Moldova under government. control. The acting head of Moldovagaz, the country's gas. operator, Vadim Ceban, said it might supply gas for. Transdniestria obtained from other sources. However the pro-Russian. area would need to pay higher costs connected with those. materials. Transdniestria has for many years paid nothing for. Russian gas. Ceban stated Moldovgaz had actually made numerous appeals to Gazprom. to send gas to Moldova through Turkstream and Bulgaria and. Romania.
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Unifor members ratify brand-new agreement with Canadian National Train
Unifor stated on Sunday that its members at Canadian National Train have validated a. brand-new fouryear collective agreement, averting a possible strike. action. Unifor, which represents more than 3,000 members at the. railway's Council 4000 and Local 100 committees, said the. agreement consists of enhancements to salaries and advantages as well as. job securities for members operating in CN terminals and. headquarters throughout Canada. The railway earlier this month had actually reached a brand-new tentative. four-year cumulative arrangement with the union. This arrangement protects essential gains that reflect the. important contributions of Unifor members to CN's operations,. Unifor National President Lana Payne stated in a statement. CN did not right away respond to a Reuters' ask for. remark. The ratification comes after Unifor members last month. licensed a strike action if the celebrations stopped working to reach an. agreement by Jan. 1. The union had initiated negotiations with CN Rail in. September, with bargaining top priorities that included higher. wages, attending to issues about the pension plan and job. security for its members. Canada, the world's second-largest country by location, relies. heavily on trains to transfer a wide range of products and. items.
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Italian state railways plans 1.3 bln euro financial investment in solar plant
Italian state trains Ferrovie dello Stato plans to invest 1.3 billion euros ($ 1.36. billion) in a photovoltaic plant with an initial 1 gigawatt (GW). capability that would cover 19% of its energy requires by 2029, the. CEO said in a paper interview. Chief Executive Stefano Donnarumma told Il Sole 24 Ore on. Sunday the project might draw interest from industrial or. monetary players that establish and run such plants. We are not thinking about running them. However we might sign. contracts to utilize them for a set period, or we could likewise purchase. existing plants, maybe with a partner, he stated. Asked if there were any contacts with potential. co-investors, Donnarumma said the task still had to be. refined, however discussions with banks had actually begun to secure. funding. Considered that energy is not part of Ferrovie's core company,. Donnarumma said a most likely alternative was to create a committed. business lorry to perform the investment, and capacity. partners could buy a stake. The concept, he said, would be to double the job's. set up capability to 2.2 GW by 2034 and cover 35-40% of. Ferrovie's energy needs by then.
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Trump threatens to retake control of Panama Canal unless offer reached
President-elect Donald Trump threatened to reassert U.S. control over the Panama Canal, accusing Panama of charging excessive rates to use the Main American passage, which allows ships to cross in between the Pacific and Atlantic oceans. In a Saturday night post on Fact Social, Trump likewise warned that he would not let the canal fall into the wrong. hands, and he seemed to alert of possible Chinese impact on. the passage, composing that the canal needs to not be handled by. China. China does not manage or administer the canal. However, a. subsidiary of Hong Kong-based CK Hutchinson Holdings handles 2. ports located on the Caribbean and Pacific entryways to the. canal, respectively. The post was an exceedingly uncommon example of a U.S. leader. stating he could press a sovereign nation to hand over area. It also underlines an anticipated shift in U.S. diplomacy under. Trump, who has not traditionally shied away from threatening. allies and using bellicose rhetoric when handling. equivalents. The fees being charged by Panama are ridiculous, particularly. understanding the amazing kindness that has been bestowed to. Panama by the U.S., Trump composed in his Reality Social post. It was not provided for the advantage of others, however simply. as a token of cooperation with us and Panama. If the principles,. both moral and legal, of this generous gesture of giving are. not followed, then we will require that the Panama Canal be. returned to us, completely, and without question, he wrote. The Panamanian embassy in Washington did not respond to. an ask for remark. The United States largely built the canal and supervised. territory surrounding the passage for years. However the United. States and Panama signed a set of accords in 1977 that paved. the way for the canal's go back to complete Panamanian control. The. United States turned over control of the canal in 1999 after a. period of joint administration. The waterway, which allows up to 14,000 ships to cross per. year, represent 2.5% of global seaborne trade and is important. to U.S. imports of cars and business products by container ships. from Asia, and for U.S exports of products, including. melted natural gas. It is not clear how Trump would look for to restore control over. the canal, and he would have no recourse under international law. if he chose to make a play for the passage. This is not the very first time Trump has actually freely considered. territorial growth. In current weeks, he has actually consistently mused about turning. Canada into a U.S. state, though it is unclear how serious he is. about the matter. During his 2017-2021 term, Trump revealed. interest in buying Greenland, a self-governing territory of. Denmark. He was publicly rebuffed by Danish authorities before. any discussions might occur.
Ukraine's stressed out mobile service providers get ready for more and longer power cuts
When Russia attacks Ukraine's. energy system, it not only knocks out electrical power and running. water but likewise, typically, phone signals.
Moscow's restored assault on power grids and transmission. lines in the last 3 months has knocked out about half. Ukraine's offered generation capability, triggering day-to-day blackouts. of up to 12 hours in significant cities including the capital Kyiv. As soon as winter season increases energy usage, the circumstance will just get. even worse.
As the huge mobile operators battle to keep their base. stations running, official pressure is growing; President. Volodymyr Zelenskiy has ordered a review of their activities and. the regulator states that, by February, they need to have the ability to cover. a blackout of as much as 10 hours - rather than 4, as now.
All are hurrying to purchase more generators and batteries for. Ukraine's 10s of thousands of stations however state that the longer. the blackout, the more complex the task of preserving complete. protection.
Analysts state the evaluation might reflect Zelenskiy's desire to. program that he understands the critical need for good. interaction during tough times, rather than any big. failings on the operators' part. But the review may likewise call. for additional financial investments.
Early in the war, the mobile suppliers established nationwide. strolling to change calls to another operator if the subscriber's. one was unavailable.
Now, in spite of the financial investments in strength, they are. recommending customers to limit usage and adhere to basic. communications like text messages to conserve bandwidth when others. might have more pushing needs.
Maybe if you prevent watching TikTok during the blackout,. your neighbours will be able to call an ambulance in a crucial. scenario, Vodafone, among 3 significant mobile providers. gotten in touch with , said in a message to users.
BATTERIES AND GENERATORS AIDS KEEP COMMUNICATIONS GOING
The sector has actually currently needed to handle a major cyber attack. along with damage to its equipment during the war with Russia,. now almost 30 months old.
3 companies representing most of users -. Vodafone, Kyivstar and Lifecell - have prepared to invest 2.7. billion hryvnias ($ 66 million) to reduce the effect of Russian. drone and rocket strikes on the power sector.
They have currently installed tens of countless new. accumulators and purchased hundreds of generators to increase their. networks' resilience.
Kostyantyn Sotnikov, who heads network maintenance at. Lifecell, said majority its base stations across Ukraine. had actually been fitted with new lithium batteries since 2022, and. hundreds were being connected to generators.
Two other operators - Kyivstar and Vodafone - said they had. made comparable improvements.
Kyivstar is the largest Ukrainian operator with about 24. million subscribers, and is owned by Amsterdam-listed Veon .
After spending over a billion hryvnias on network. resilience, it says it has more than 2,300 generators and strategies. to purchase another 848 quickly.
Vodafone Ukraine, the 2nd biggest operator with about 16. million clients, stated it prepared to channel 438 million hryvnias. into energy devices.
(source: Reuters)