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  Bloomberg Energy grid companies in the UK will have £22.2 billion ($26.6 billion) to spend on beefing up local networks as the nation’s green shift requires increasing electrification. While a huge sum, it’s 12% less than the six main network companies had proposed. The budget will cover everything from service and maintenance to upgrades on 14 local grids for ...

Bloomberg India’s economy probably expanded at a slower pace last quarter as price pressures, rising interest rates and sluggish trade tempered demand in Asia’s third largest economy. Gross domestic product is estimated to have risen 6.2% in the three months to September from a year ago, according to a Bloomberg survey of economists, cooling from a 13.51% growth reported in ...

  Bloomberg The slump in Hong Kong’s home prices will deepen next year due to the combination of rising borrowing costs, a recession and an exodus of residents, according to Natixis SA. Residential prices are expected to fall 12% in 2023 and 2% the following year, taking the drop from the peak in late 2021 to 25%, Natixis analysts led ...

  Bloomberg China’s wind turbines will get even cheaper next year, supporting exports as products from western competitors become more expensive, according to one of the country’s leading manufacturers. Export prices will drop by 15% to 20% per kilowatt of capacity in 2023, according to Zhejiang Windey Co, one of China’s top four turbine makers, as newer units become more ...

Bloomberg Godrej Industries Ltd, part of a 125-year-old Indian conglomerate, is looking to boost the number of oil palm plantations as the government aims to raise local output and cut the nation’s heavy imports. The group’s agriculture and chemicals arm Godrej Agrovet Ltd — India’s largest oil palm processor backed by Singapore’s sovereign wealth fund Temasek Holdings Pte — will ...

Bloomberg A Nato foreign minister warned that economic reliance on China is risky after what happened with Russia, even as other envoys stressed how Beijing could help push for a deal to end the war in Ukraine. “We’ve seen what dependence on Russia means to all of us in the West,” Lithuanian Foreign Minister Gabrielius Landsbergis told Bloomberg TV on ...

Bloomberg European Commission President Ursula von der Leyen suggested creating a special international court to probe Russian actions in Ukraine and using frozen Russian assets to help rebuild the nation. The head of the European Union’s executive arm said the bloc would try to gather international support for a “specialised court backed by the United Nations to investigate and prosecute ...

Abu Dhabi / WAM HH Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of Etihad Rail, witnessed the signing of the terms sheet for a strategic partnership for sustainable transportation between Etihad Rail, the developer of the UAE Railway Network, and Borouge, a leading petrochemical company that provides innovative and differentiated polyolefin solutions, to transport 1.3 million tons of ...

  Abu Dhabi / Gulf Time The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) and Miral, Abu Dhabi’s leading creator of immersive destinations and experiences, announced 25% construction completion of the immersive, multi-sensory attraction teamLab Phenomena Abu Dhabi, located in the Saadiyat Cultural District. A partnership with teamLab, the globally acclaimed, interdisciplinary Tokyo-based art collective, teamLab ...

  Sharjah / WAM His Highness Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, affirmed that November 30 is a day to remember the righteous martyrs of the homeland who defended the soil, pride and dignity of this country. In a speech addressed by “Nation Shield” magazine on the occasion of Commemoration Day, which ...