News

Bloomberg Prime Minister Boris Johnson was accused of being slow to act in sanctioning Russian billionaires after the UK lagged the US and European Union in targeting individuals with links to Vladimir Putin. In Parliament, opposition Labour Party leader Keir Starmer questioned why Igor Shuvalov, Putin’s former deputy prime minister, is not on the UK sanctions list despite being on ...

  Bloomberg Italy will invest over 4 billion euros ($4.4 billion) to develop the domestic semiconductor industry, as it seeks to support companies transitioning to greener technologies. Prime Minister Mario Draghi’s government approved a new fund which will allocate 150 million euros in 2022 and 500 million euros each of the following years until 2030 as part of a new ...

  Bloomberg A group of the world’s richest nations that pledged $8.5 billion in climate finance to South Africa wants the money to be used to retire coal-fired power plants, according to a senior U.S. official involved in the talks, damping suggestions some could be channeled to producing electric vehicles and green hydrogen. The funds pledged by the US, UK, ...

  Bloomberg Oil soared as the Russian invasion of Ukraine continued to raise the specter of major global supply disruption. Futures in New York climbed as much as 6.1% to, the highest since 2014. Brent futures jumped by more than $6 to above $104 a barrel. The European Union is discussing the exclusion of seven Russian banks from the SWIFT ...

  CAIRO / WAM The Arab Parliament (AP) lauded the resolution of the United Nations (UN) Security Council to list the Houthi militias as a terrorist organisation. The Council also placed the Houthis on a list of entities banned from being supplied with arms. The AP described this step as a victory for legitimacy, stressing that the resolution was issued ...

  DUBAI / WAM Dubai International Financial Centre (DIFC) has launched a ground-breaking artificial intelligence (AI) and coding license in cooperation with the UAE Artificial Intelligence Office. The license, which is a UAE first, will advance the country’s Artificial Intelligence Strategy 2031, which aims to enhance the UAE’s reputation in this field by attracting AI companies and coders from around ...

  DUBAI / WAM The Ministry of Industry and Advanced Technology (MoIAT) on Tuesday hosted a live panel discussion in collaboration with Schneider Electric to boost the UAE’s ongoing efforts to forge a globally competitive and sustainable industrial base at the forefront of the Fourth Industrial Revolution “4IR”. The panel hosted Sarah bint Yousif Al Amiri, Minister of State for ...

DUBAI / WAM Emirates SkyCargo official has outlined how the air cargo carrier supports Spanish agri-businesses and perishables exporters by helping transport premium exports rapidly from Spanish gateways to global markets through Dubai. This came during a meeting held between Nabil Sultan, Emirates Divisional Senior Vice President, and Luis Planas Puchades, the Spanish Minister for Agriculture, Fisheries and Food; Iñigo ...

  DUBAI / WAM Moro Hub, a subsidiary of Digital Dubai Electricity and Water Authority (Dewa) and its digital arm, has launched Geospatial (GIS) Services aiming to assist government and enterprises in the region to scale their operations and achieve their digital transformation goals. Moro Hub will offer three types of GIS services: GIS Professional Services to build GIS systems, ...

  ABU DHABI / WAM The Abu Dhabi Global Market (ADGM) announced that it will host RESOLVE 2022, Abu Dhabi’s first international dispute resolution forum, on March 16. The one-day event, hosted by ADGM Courts and the ADGM Arbitration Centre, is designed to provoke, challenge and encourage the local and international dispute resolution community to drive change for a sustainable ...