BLOOMBERG Sweden’s Volvo Car AB saw its target price cut by more than a third to a new street low after analysts at SEB AB scrubbed the value they assign to the company’s 48% stake in struggling EV maker Polestar. Volvo Car’s new target price of 28 Swedish kronor per share follows “sizable estimate cuts” and “no longer attributing a ...
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BLOOMBERG Ford Motor Co said that it would reduce the number of workers making its F-150 Lightning truck as demand for electric vehicles continues to weaken. About 1,400 employees will be impacted as the Rouge Electric Vehicle Center transitions to one shift beginning from April 1, the Dearborn, Michigan-based automaker said. The company said it expects continued growth in global ...
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DUBAI / WAM Dubai has registered a 3.3 percent rise in the real gross domestic product (GDP) in the first nine months of 2023, further demonstrating its economic strength, resilience and robust growth potential. The achievement reflects the city’s sustainable development strategies and its continued dynamism as a leading global economic powerhouse. From bustling tourism hubs to tech-powered communications networks, ...
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RAS AL KHAIMAH / WAM Ras Al Khaimah Economic Zone (Rakez) registered over 7,800 new companies in its thriving business community in 2023, representing 86 percent increase in new registrations compared to the previous year, further underscoring Rakez’s enduring appeal as the go-to destination for entrepreneurial success Reflecting on this economic expansion, Ramy Jallad, Rakez Group CEO, stated, “The latest ...
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ABU DHABI / WAM Abu Dhabi Global Market (ADGM) and Mastercard have announced a collaboration to fuel the growth of the booming small and medium enterprise (SME) sector in Abu Dhabi and the wider UAE by digitalising SME payment flows. The partnership will empower SMEs to meet their growth potential through Mastercard’s technologies and resources. Under the collaboration, Mastercard and ...
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ABU DHABI / WAM Under the patronage of HH Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of the Office of Development and Martyrs Families Affairs at the Presidential Court, and Chairman of the Abu Dhabi Early Childhood Authority (ECA), the WED Innovation Lab activities kicked off today in Abu Dhabi. The initiative is a milestone activity that reflects ...
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ABU DHABI / WAM Held under the patronage of HH Sheikh Hazza bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi, the sixth edition of Unmanned Systems Exhibition (UMEX) and the Simulation Training Exhibition (SimTEX) Conference has kicked off today at the Abu Dhabi National Exhibition Centre (Adnec). Organised by Adnec Group and Ministry of Defence, with Edge Group as ...
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DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on Monday visited the third edition of the World of Coffee 2024 exhibition being held at the Dubai World Trade Centre until January 23. During the visit, His Highness said that Dubai continues to consolidate its status as ...
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DUBAI/ GULF TIME Danube Properties, one of the fastest-growing private real estate developers in the UAE, has partnered with Dubai Multi-Commodities Centre (DMCC) the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise – to bring a new residential project to its prime location of JLT, the uptown community. The 65-storey twin towers will bring ...
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BLOOMBERG A rout in Chinese stocks listed in Hong Kong intensified on Monday, pushing their discount to mainland peers to the deepest in fifteen years in the latest sign of growing pessimism among international investors. The Hang Seng China Enterprises Index fell 2.4%, inching closer to a level last seen almost two decades ago, while the onshore benchmark CSI 300 ...
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