News

  Dubai / WAM Dubai Electricity and Water Authority (Dewa) has announced that the work progress at the Hatta hydroelectric power plant reached 35 percent by the end of December 2021. The plant’s production capacity is set to reach 250 megawatts (MW) with a storage capacity of 1,500 megawatt-hours and a lifespan of up to 80 years. This is the ...

  Abu Dhabi / WAM A new measure has eased issuing parking permits for visitors to sectors classified as ‘residential villa’ in the emirate of Abu Dhabi. The Integrated Transport Centre (ITC) of the Department of Municipalities and Transport in Abu Dhabi announced that it has started implementing new amendments concerning the issuing of parking permits to visitors to residential ...

  Bloomberg Britain’s inflation rate surged unexpectedly to the highest since 1992, sharpening a squeeze on households and adding to pressure on the government and Bank of England to respond. Consumer prices surged 5.4% from a year ago in December, driven by a broad increase in the cost of food, restaurant meals and furniture, the Office for National Statistics said ...

  Bloomberg Apple Inc and Google warned US lawmakers that bipartisan antitrust legislation aimed at curbing the power of big technology companies will threaten the privacy and security of users. Escalating its opposition to the legislation, Apple sent a letter to Senate Judiciary Committee Chair Dick Durbin; panel’s ranking Republican, Chuck Grassley; Antitrust Subcommittee Chair Amy Klobuchar; and the subcommittee’s ...

  Bloomberg Canada, one of the world’s top barley exporters, is importing a rare cargo from Europe after drought decimated its harvest last year. France’s Rouen port is set to load its first-ever barley cargo for Canada, on the bulk carrier Federal Spey, according to a spokesman for the port operator. The North American nation hasn’t imported significant volumes from ...

  Bloomberg Benchmark German debt yields climbed above zero for the first time since before the pandemic as investors braced for central banks to scale back monetary stimulus in the face of accelerating inflation. The rate on 10-year bunds rises four basis points to 0.02%, crossing into positive territory for first time since May 2019. It comes as money markets ...

Abu Dhabi / WAM UN secretary general Antonio Guterres condemned the Houthi militia attack, which targeted civil facilities in UAE and resulted in a number of deaths and injuries. The UN spokesman said in the daily briefing that such attacks are prohibited by international humanitarian law. The United States also strongly condemned Houthi militia terrorist attack in the UAE, which ...

  Bloomberg Microsoft Corp said it’s buying Activision Blizzard Inc in a $68.7 billion deal, uniting two of the biggest forces in video games to create the world’s third-biggest gaming company. In its largest purchase ever, Microsoft will pay $95 a share in cash for one of the most legendary gaming publishers, known for titles like Call of Duty and ...

  Abu Dhabi / WAM Agthia Group PJSC, a regional food and beverages company, has marked the end of 2021 with a sizeable donation of over 500 Care Packages that were distributed to families in need across the UAE, which included a variety of food items produced by the group’s brands. Agthia partnered with the Emirates Red Crescent, Dubai Charity ...

  Abu Dhabi / WAM Aldar Properties (Aldar) on Tuesday announced an agreement with Diamond Developers, the mastermind behind The Sustainable City brand, to form a joint venture (JV) for the development of a fully sustainable and unique community on Abu Dhabi’s Yas Island. The Sustainable City – Yas Island will span an area of 397,000 square metre in Yas ...