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General

UAE leaders congratulate Arab, Islamic leaders on Eid Al Adha

President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent cables of congratulations to kings, presidents and emirs of Arab and Islamic countries, on the advent of Eid Al Adha.

In his messages, His Highness Sheikh Mohamed wished health and happiness to the leaders and further progress and prosperity to the Arab and Muslim peoples. He also wished dignity and glory for Arab and Islamic nations.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, sent similar greetings to Arab and Islamic leaders on the auspicious occasion.

Source: Ministry of Foreign Affairs & International Cooperation

Categories
Government

UAE President receives phone calls from Pakistan, Israel Prime Ministers on Eid Al Adha

President His Highness Sheikh Mohamed bin Zayed Al Nahyan has received phone calls from Shehbaz Sharif, Prime Minister of Pakistan; and Yair Lapid, Prime Minister of Israel, on the occasion of Eid Al Adha.

The two officials congratulated President His Highness Sheikh Mohamed bin Zayed, wished him continued health and happiness, and the UAE and its people further progress and wellbeing.

For his part, President His Highness Sheikh Mohamed bin Zayed thanked the Prime Minister of Pakistan and the Prime Minister of Israel, wishing their countries and people continued prosperity, safety and stability, and praying to Allah Almighty to spread peace and security all over the world.

The UAE President also congratulated Yair Lapid on assuming his duties as Prime Minister of Israel, wishing the bilateral relations between the two countries to further grow and develop in a way that will serve mutual interests and consolidate the foundations of peace in the region.

Source: Ministry of Foreign Affairs & International Cooperation

Categories
Government

President condoles Shinzo Abe’s death, says he was a loyal friend who contributed to strengthening UAE-Japan relations

President His Highness Sheikh Mohamed bin Zayed Al Nahyan has expressed his sincere condolences and sympathy to the Japanese government and people, and the bereaved family over the passing of former Japanese Prime Minister Shinzo Abe.

In a statement, His Highness Sheikh Mohamed said, “We are deeply saddened to learn about the death of our dear friend Shinzo Abe who served his nation with honour and contributed to strengthening the fruitful relations between the UAE and Japan. We extend our sincere condolences to his family and the people of Japan.”

Shinzo Abe was a loyal friend of the UAE. He played an active role in consolidating the relations of the two countries, which witnessed unprecedented development and prosperity at all levels. The late leader also worked to strengthen his country’s role in supporting peace and stability at the regional and global levels.

The UAE President also expressed the UAE’s condemnation of this senseless act, as well as any form of violence, adding that the UAE will always remember his efforts to enhance the friendship and cooperation between their countries.

Source: Ministry of Foreign Affairs & International Cooperation

Categories
Athletic

Spain come from behind to beat Finland 4-1 in Women’s Euros

Milton Keynes, Favourites Spain made a winning start to their Women’s European Championship campaign after they came from behind to beat Finland 4-1 in Milton Keynes.

Linda Sallstrom gave Finland a surprise lead in the first minute but Spain bounced back with headers from captain Irene Paredes, midfielder Aitana Bonmati and forward Lucia Garcia. They rounded off the scoring with a penalty from Mariona Caldentey, Reuters reports.

Forward Sallstrom hit a low shot into the bottom left corner following a superb pass from defender Anna Westerlund as underdogs Finland took early control of the Group B encounter.

But Spain, playing without the injured Jennifer Hermoso and Alexia Putellas, soon overcame the early jitters and found the equaliser in the 26th minute when the unmarked Paredes scored a towering header from Caldentey’s corner.

Jorge Vilda’s team took the lead in the 41st minute after Mapi Leon swept in a brilliant cross from the left and Bonmati headed the ball into the top corner.

Garcia then headed in from Leon’s free kick in the 75th minute to make it 3-1 before Caldentey scored with a stoppage-time penalty.

Caldentey found the top corner from the spot in the 95th minute after Elli Pikkujamsa brought down Marta Cardona in the box.

The victory put Spain top of Group B, which also includes Denmark and Germany.

Source: Bahrain News Agency

Categories
Market

China’s June factory inflation cools counter to global trends

Beijing, China’s factory-gate inflation cooled in June to the lowest in 15 months as the country continues to buck the global trend of accelerating prices.

The producer price index (PPI) rose 6.1% year-on-year, the National Bureau of Statistics (NBS) said on Saturday, after a 6.4% rise in May. Analysts had expected an increase in the PPI rate of 6.0% in a Reuters poll.

The slower rise in the PPI was driven by the resumption of additional industrial production, stable supply chains in key sectors and government polices to stabilise commodity prices, NBS official Dong Lijuan said in a separate statement.

According to Reuters, inflation in the ferrous metal mining and processing industry decreased the most, while producer prices for the oil and gas extraction industry rose the most, according to NBS.

The falling factory-gate inflation reflects easing cost pressure on the middle and downstream manufacturers, Zhou Maohua, an analyst at China Everbright Bank, said in a note.

China’s producer inflation has cooled for six consecutive months. That contrasts sharply with soaring global inflation that has prompted major central banks in the rest of the world to raise interest rates.

The consumer inflation rate in the world’s second-largest economy increased by the highest in nearly two years though it remained within the country’s target of an around 3% rise.

The pickup in consumer inflation follows a surge in fuel prices and suggests policymakers will need to keep a close watch on any persistent cost pressures amid the global surge in prices.

The consumer price index (CPI) increased 2.5% from a year earlier, widening from a 2.1% gain in May and the highest in 23 months. In a Reuters poll, the CPI was expected to rise 2.4%.

The CPI stayed flat month-on-month, after the 0.2% drop in May, beating the 0.1% decline in a Reuters poll.

Vehicle fuel prices soared 32.8% in June, the NBS said.

“China will continue to face the dual pressure of structural inflation and imported inflation. The slow recovery of domestic demand will also raise up the headline consumer inflation,” said Ying Xiwen, a senior analyst at Minsheng Bank.

Overall, CPI is expected to rise moderately and very likely to surpass 3% in the second half of the year, but the whole year average level will still be within the annual target, Ying said.

China’s economy has showed some signs of recovery in recent months after a sharp COVID-induced slump because extensive lockdowns in cities including the commercial hub Shanghai.

However, headwinds to growth persist, including worries of any recurring waves of COVID infections. Some areas have recently reported flare-ups in cases, which could slow or even stymie a recovery. [nL4N2YQ00O]

In order to boost the flagging economy, China will issue 2023 advance quota for local government special bonds in the fourth quarter, with the new quota likely bigger than 1.46 trillion yuan ($218.09 billion) for 2022, sources have told Reuters.

In late June, the People’s Bank of China (PBOC) Governor Yi Gang pledged to keep monetary policy accommodative to support an economic recovery.

“Monetary policy faces constraints such as aggressive Fed hikes and rising inflation concerns and appears to be switching from a crisis mode into a wait-and-see mode. Looking ahead, we think the PBOC would be careful and data-dependent in calibrating its stimulus,” Citi analysts said in a note.

Source: Bahrain News Agency