Bloomberg Plug Power Inc., a fuel-cell company that’s struggled to turn a profit, surged in value to nearly $25 billion after striking a deal with a South Korean conglomerate to promote hydrogen technology in Asia. Shares in the Latham, New York, company jumped more than 50%, when SK Group agreed to pay $1.5 billion for a 10% stake in it. ...

ABU DHABI / WAM The United Arab Emirates has provided urgent humanitarian aid to those affected by the floods that swept the state of Pahang, Malaysia. The move is in implementation of the directives of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and the follow-up ...

Bloomberg Oil posted the biggest weekly gain since late September as Saudi Arabia’s plan to slice output spurred a surge in physical crude buying. Futures in New York advanced $3.72 this week and Brent oil topped $55 a barrel for the first time since February. Saudi Arabia’s pledge earlier this week to cut production by 1 million barrels a day ...

DUBAI / WAM Infrastructure projects valued at AED 10 billion are currently underway along the East Coast of the UAE, said Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure. The project are part of the 2018-23 five year plan, which includes the ministry’s investment programme and the projects undertaken by the Follow up Committee of the Initiatives of ...

JAKARTA / WAM/Reuters A Sriwijaya Air plane with 62 people on board lost contact after taking off from Indonesia’s capital Jakarta on a domestic flight on Saturday and rescuers said suspected debris had been found in the sea off the city, Reuters reported. The Boeing 737-500, en route to Pontianak in West Kalimantan, disappeared from radar screens after taking off ...

Bloomberg India’s petroleum consumption fell for the first time in more than two decades in 2020 as the coronavirus pandemic shuttered businesses and factories, hurting demand from one of the world’s largest users of the fuel. Total petroleum demand declined 10.8% last year from 2019, and was at a five-year low of 193.4 million tons, according to Bloomberg calculations of ...

DUBAI / WAM In support of the UAE’s sustainable economic development, Dubai Customs has been able to meet the challenges of the global economic recession arising out of the Covid-19 pandemic. “The year 2020 saw new pioneering achievements for Dubai Customs in terms development of Customs work processes and innovation of new solutions and initiatives to ensure the smooth flow ...

DUBAI / WAM The Dubai Health Authority (DHA) has announced the addition of a seventh centre offering the Pfizer-BioNTech vaccine, as part of its COVID-19 vaccination campaign. Dr Farida Al Khaja, CEO of Clinical Support Services and Nursing Sector at the DHA and Chairperson of the COVID-19 Vaccination Steering Committee, said the DHA has added Al Safa primary healthcare centre ...

DUBAI / WAM Infrastructure projects valued at AED 10 billion are currently underway along the East Coast of the UAE, said Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure. The project are part of the 2018-23 five year plan, which includes the ministry’s investment programme and the projects undertaken by the Follow up Committee of the Initiatives of ...

Abu Dhabi / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted 168,770 additional Covid-19 tests over the past 24 hours, using state-of-the-art medical testing equipment. In a statement, the ministry stressed its aim to continue expanding the scope of testing nationwide to facilitate the early detection of coronavirus cases part of its intensified testing campaign, MoHAP ...