News

  Bloomberg Hanwha Q Cells — one of the few solar-panel makers with US production — is considering sites for a massive new facility as the country prepares to incentivise cleantech manufacturing. The company is evaluating sites in Georgia, South Carolina and Texas, according to documents filed in Texas. The potential project in Dallas County, Texas, would feature a suite ...

  Bloomberg Mahindra & Mahindra Ltd launched five electric sports utility vehicles designed in the UK as the automaker seeks to expedite its lagging switch to battery-powered cars in India. The SUVs will be sold under two brands — XUV and BE — the automaker said in a video presentation. The electric vehicles were conceptualised at the Mahindra Advanced Design ...

  Bloomberg Sea Ltd posted a bigger loss than expected and withdrew its 2022 e-commerce forecast, joining other online giants struggling to gauge an increasingly uncertain global economic outlook. Its shares dived 14% in New York, wiping $800 million off the wealth of founder Forrest Li. Once Southeast Asia’s most-valuable company, Sea’s shares have now fallen almost 80% since peaking ...

  Bloomberg A heat wave in Sichuan is curbing hydropower generation in a growing threat to electricity supply and economic growth in one of China’s most-populous provinces. Some factories in the manufacturing hub in southwestern China are curbing production, and the extreme weather may also cut supplies of materials like polysilicon and lithium that are vital to the energy transition. ...

  Abu Dhabi / WAM The UAE is continuing to strengthen its food security system, through a comprehensive range of policies that include promoting cooperation with other countries and markets, diversifying sources, and attracting local and foreign agricultural investment. The country’s food import rate increased by 21 percent in the first half of 2022, recording over 41,000 tonnes of imported ...

  Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, sent a written letter to General Evariste Ndayishimiye, President of the Republic of Burundi, congratulating him on the occasion of assuming the presidency of the East African Community. The letter was delivered by Sheikh Shakhboot bin Nahyan Al Nahyan, Minister of ...

  Dubai / WAM Dubai Electricity and Water Authority (Dewa) announced that its High-Water Usage Alert service has helped to reduce 217,370 tons of carbon emission since its launch three years ago and until June 30. These reductions were from identifying 1,062,781 water leakage reports, 23,199 defects, and 11,566 cases of increased load. The service sends instant notifications to customers ...

  Abu Dhabi / Gulf Time Waha Capital (Waha), an Abu Dhabi-listed investment management company, through its wholly owned subsidiary Waha Land, has agreed to the sale of 17 leased warehouse buildings situated on five plots at the Almarkaz Industrial Development to Peninsula Real Estate Management Limited (Peninsula), a real estate investment company incorporated in Abu Dhabi Global Market, for ...

  DUBAI / WAM The Department of Planning and Development — Trakhees, the regulatory arm of the Ports, Customs and Free Zone Corporation, completed about 16,000 transactions through its Licencing Department during the first half of 2022, registering a growth of 22% as against the same period last year. The Licencing Department provides corporate licencing services to local and free ...

  SHARJAH / WAM Air Arabia, the Middle East and North Africa’s first and largest low-cost carrier (LCC) operator, has announced the launch of its direct flights from Sharjah to the city of Milan in Italy. The new direct flights will connect Sharjah International Airport with Milan Bergamo Airport with four weekly flights starting from December 7. Adel Al Ali, ...