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Global supply chain congestion eased with new trade routes from DP World
The first three quarters of 2022 saw DP World expand its network by more than 23,000 nautical miles, equivalent to a complete circumnavigation of the globe. The newly-established routes - connecting the Americas, Europe, Asia and the Middle…
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IMF welcomes Food Shock Window to address food insecurity
The Managing Director of the International Monetary Fund (IMF), Ms. Kristalina Georgieva, has welcomed the creation of a new Food Shock Window in order to help countries address food insecurity in the future. "A new Food Shock Window has…
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Indian priorities for the upcoming G-20 presidency revealed
India's priorities as incoming President of the Group of Twenty (G-20) will be inclusive, equitable, and sustainable growth, LiFE (Lifestyle For Environment), women's empowerment, and the development of digital public infrastructure,…
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India rises six spots to number 40 on the Global Innovation Index 2022
The World Intellectual Property Organization has ranked India 40th in its Global Innovation Index. It is an impressive leap of 41 places in seven years. Prime Minister Narendra Modi stated in a tweet that innovation is a buzzword in India.…
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Warehouse and transportation workers at Amazon receive higher hourly wages
Amazon Inc has announced that its warehouse and transportation workers will receive an average starting wage of more than $19 per hour, a significant increase in pay from the previous hourly rate of $18. A wage hike would help the company…
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Egyptian Cabinet reports 13-fold increase in gas export revenue
Over the past eight years, Egypt's natural gas export revenues have increased 13-fold, according to a report released by the Cabinet's Information and Decision Support Centre (IDSC). According to the report, Egypt's natural gas and…
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Exports from India to the UAE increased five-fold after CEPA
In the three months following the implementation of a bilateral Comprehensive Economic Partnership Agreement (CEPA), India's non-oil exports to the UAE increased five-fold compared with India's non-petroleum exports worldwide. Last night,…
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$75 billion price tag for Porsche has divided investors
The share price of Volkswagen hovered around breakeven on Monday, reflecting a mixed response from investors to the automaker's plans to list sports car brand Porsche AG in what could be Europe's third biggest IPO. According to Reuters,…
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Weak dollar and supply concerns drive up oil prices
There was a notable rise in oil prices on Monday. This was due to a weaker dollar and supply concerns ahead of the European Union's embargo on Russian oil in December. This offset fears of a global recession that could dampen fuel demand.…
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Euro area inflation up to 9.1%, EU inflation up to 10.1% in August
Annual inflation in the euro area increased from 8.9% in July to 9.1% in August 2022. The rate was 3.0% a year earlier. In August 2022, the annual inflation rate in the European Union was 10.1%, up from 9.8% in July. According to Eurostat,…
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