News

  Bloomberg The Port of Los Angeles moved record cargo volumes last year amid an import surge at the U.S.’s biggest container gateway and supply-chain snarls brought on by the pandemic. The West Coast port handled 10.7 million 20-foot container units in 2021, 13% more volume than in 2018, the previous record year, Executive Director Gene Seroka said. US supply ...

Bloomberg Confidence in Germany’s near-term outlook improved in January as companies expect the latest virus wave to prove only a temporary setback for the recovery. A business expectations gauge compiled by the Munich-based Ifo Institute rise to 95.2, more than economists predicted. Manufacturers saw supply bottlenecks easing at the start of the year, and even services providers were optimistic about ...

  Bloomberg Volkswagen AG is partnering with Robert Bosch GmbH to bolster its automated-driving push and catch up with the likes of Tesla Inc. on software development. VW’s Cariad software unit will work with the world’s largest auto-parts supplier to introduce features allowing drivers to temporarily take their hands off the steering wheel starting in 2023, the companies said on ...

  ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Monday made a phone call to Imran Khan, Prime Minister of Pakistan, expressing his strong condemnation and denunciation of the blast that hit the Pakistani city of Lahore, which killed a number ...

ABU DHABI / WAM The Ministry of Defence announced on Monday that its air defence forces had intercepted and destroyed two ballistic missiles targeting the UAE, which were fired by the Houthi terrorist militia. The ministry confirmed that there were no casualties resulting from the attack, as the fragments of the ballistic missiles fell in different areas around the UAE ...

  ABU DHABI / WAM Aligned with national efforts aimed at driving the growth of the UAE’s energy sector, AD Ports Group signed a new agreement with Eni Abu Dhabi B.V., the Abu Dhabi-based branch of the world-renowned Italian Integrated Energy Company, to establish a marine logistics base at Mugharraq Port supporting offshore drilling operations in the heart of Al ...

  DUBAI / WAM Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (Dewa), announced that energy demand in Dubai increased in 2021 by around 10 percent compared to 2020. Energy demand in 2021 reached 50,202 gigawatt-hours compared to 45,712 gigawatt-hours in 2020. Al Tayer said, “To achieve this, Dewa uses the latest smart technologies and ...

  ABU DHABI / WAM During its pioneering 50-year journey, Abu Dhabi Fund for Development worked to support international efforts aimed at achieving sustainable development in education sector around the world. To date, it funded 64 educational development projects that serve the educational sector, with a total of AED2 billion invested across 15 developing countries around the world. In its ...

  Sharjah / WAM Ajman Bank signed a financing agreement with local developer Arada that will provide AED152 million ($41.38 million) to finance the construction of two key projects within the fast-growing Aljada mixed-use community, Sharjah’s largest ever megaproject. The arrangement has resulted in the provision of AED37 million in financing for a villa complex within the Aljada community, as ...

DUBAI / WAM Dubai Land Department (DLD) has signed memoranda of understanding (MoUs) with three companies specialised in providing smart and advanced real estate solutions: Bayut, DXBinteract.com, and Property Finder. The MoUs aim to provide Dubai’s real estate market with the best solutions that rely on data and interactive reports, which contributes to enhancing the digital transformation trends witnessed by ...