News

  Dubai / Gulf Time Mohammed Saeed Al Marzouki, Acting CEO of Hala China, thanked the embassy of the People’s Republic of China in the UAE, and Consulate General of China in Dubai for co-hosting the 2023 “Happy Chinese New Year” Grand Parade Conference, which is now just 10 days away, and inviting Hala China to be one of the ...

  Abu Dhabi / WAM Etihad Airways is boosting its flights to Bangkok, Thailand by doubling its frequency. From March 26, the airline will fly twice a day on the Abu Dhabi – Bangkok route, providing a total of 14 weekly nonstop services to Bangkok Airport (BKK). The flights will offer Etihad’s award-winning service and comfort across both Business and ...

Dubai / WAM Emirates Global Aluminium (EGA) on Thursday announced the company’s programmes to inspire young people’s interest in science, technology, engineering, and mathematics (STEM), reached more than 6,000 students in 2022. Science, technology, engineering, and mathematics experts are essential for achieving the goals of the UAE’s Operation 300bn industrial growth strategy and UAE Centennial 2071. EGA employs some 1,500 ...

Bloomberg Deliveries from Tesla Inc’s Shanghai factory slumped in December after a record November as production was temporarily suspended due to equipment upgrades and lackluster consumer demand. The Texas-based company shipped just 55,796 China-made vehicles last month, almost half the month prior, according to preliminary data released by China’s Passenger Car Association (PCA) on Thursday. The PCA didn’t provide a ...

  Bloomberg Hong Kong sold the equivalent of $5.8 billion of green bonds denominated in three currencies, as debt markets roared back to life amid a global rush of deals. The city priced $3 billion of dollar bonds across four tenors, a 1.25 billion euro ($1.3 billion) two-tranche note and a 10 billion offshore yuan ($1.5 billion) portion, according to ...

  Bloomberg Foxconn Technology Group has brought the world’s largest iPhone plant to about 90% of anticipated peak capacity, suggesting Apple Inc’s biggest main production partner has secured enough workers despite a Covid resurgence and recent staff upheaval. Foxconn’s plant in the central Chinese city of Zhengzhou is now operating with roughly 200,000 staff, the official Henan Daily reported, citing ...

  Bloomberg Tencent Holdings Ltd entered the club of the world’s 10 most-valuable companies for the first time in six months, reflecting broader investor optimism for Chinese equities as the nation dismantled its stringent Covid Zero policy and refocused on growth. The online gaming firm’s shares have risen more than 80% since a low in October 2022, overtaking oil and ...

  Bloomberg Saddled with a slumping property market, China is extending measures introduced in September 2022 that allow lower mortgage rates for first-home buyers if newly constructed house prices drop for three consecutive months. Cities are eligible to maintain, lower or remove minimum interest rates on loans for first home purchases, according to a statement from the central bank and ...

  Bloomberg Mukesh Ambani, the billionaire chairman of Reliance Industries Ltd, will be focusing his attention on the Indian conglomerate’s pivot to green energy, according to people familiar with the matter, after putting his children in charge of other businesses. The 65-year-old will oversee strategy, including the building of gigafactories and blue hydrogen facilities, will assess acquisition targets, and is ...

  Dubai / WAM dnata, a leading global air and travel services provider, has broken ground on its new, 20,000 m2 cargo warehouse which will add significant expansion to its operations at Erbil International Airport (EBL). The facility represents an investment of $14 million and will create up to 50 additional, direct jobs with dnata in Iraq. The foundation stone ...