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UAE oil giant ADNOC swoops on German chemicals firm Covestro
UAE oil giant ADNOC swoops on German chemicals firm Covestro
Business and Economy
by  AFP

German chemicals group Covestro said Tuesday it had accepted a takeover bid from UAE state energy company ADNOC, as one of the key sectors in Europe's largest economy is gripped by crisis. - Chemicals crisis - ADNOC's bid for Covestro comes while the challenges facing the Germany's energy-intensive chemicals industry show no signs of abating.

Eurozone inflation falls under 2% for first time since 2021
Eurozone inflation falls under 2% for first time since 2021
Business and Economy
by  AFP

The eurozone's annual inflation rate fell to its lowest level in three-and-a-half years in September, official data showed Tuesday, dropping below the European Central Bank's two-percent target and fuelling expectations of a rate cut. The slowdown in inflation comes after energy prices fell sharply by 6.0 percent in September, compared with a drop of 3.0 percent in August, Eurostat data showed.