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Abu Dhabi / WAM The International Renewable Energy Agency (Irena) and the Ministry of Energy, Mines and Environment (MEME) of the Kingdom of Morocco on Monday agreed to strengthen joint collaboration to advance knowledge in renewable energy and to accelerate the energy transition. Specifically, Irena and Morocco will work closely to advance the national green hydrogen economy as the country ...

Abu Dhabi / WAM In 2020, nearly 923,724 counterfeit goods were seized by the UAE Customs sector, according to the report on Intellectual Property Rights (IPRs) for 2020 issued by the Federal Customs Authority (FCA). Additionally, IPR seizures by local Customs departments amounted to 41 the same year. Ali Saeed Matar Al Neyadi, Commissioner of Customs, and Chairman of the ...

ABU DHABI / WAM Air Arabia Abu Dhabi, the capital’s first low-cost carrier, announced the introduction of a new service to Trabzon in Turkey with direct flights from Abu Dhabi starting on July 13. The new service represents the 14th route for Air Arabia Abu Dhabi since the launch of the carrier’s service from Abu Dhabi International Airport last year. ...

Bloomberg Chinese ride-hailing company Didi revealed a $1.6 billion net loss for 2020 as it moves ahead with plans for a US initial public offering. The company in its first public filing for the IPO listed the offering as $100 million, a placeholder that will change when the company discloses terms for the share sale. Didi filed under the business ...

Bloomberg Indian mobile content provider Glance InMobi Pte agreed to acquire e-commerce startup Shop101 to expand into influencer-led shopping in the South Asian country. Glance, which became a unicorn in December after backing from Alphabet Inc’s Google and Peter Thiel’s Mithril Capital, pushes curated news and entertainment content onto phone lock screens and also runs a short video app. It ...

Bloomberg Delays from congestion at southern Chinese ports triggered by fresh Covid-19 outbreaks are rippling through global supply chains, threatening to inflate costs and exacerbate disruptions. A cargo vessel operated by Cosco Shipping Lines Co will skip a scheduled port stop in Singapore this month because of delays in China, according to alliance partner Ocean Network Express Holdings Ltd. One ...

Bloomberg A top Indian fund manager is shunning lower-rated rupee corporate bonds until the impact of the world’s worst Covid-19 crisis on weaker borrowers is better understood. The level of stress in the economy especially for small- and medium-sized enterprises is still unclear after states locked down to curb the spread of a second virus wave from March, said Dhawal ...

Bloomberg Just eight months after celebrating a narrow escape from financial disaster, Chinese billionaire Hui Ka Yan finds himself back in crisis-fighting mode. Resurgent concerns about the health of China Evergrande Group, Hui’s flagship property company, have pushed its stock to within a hair’s breadth of the lowest level since March 2020. Bondholders are rushing for the exit too, spooked ...

Abu Dhabi / WAM The UAE was ranked among the top 20 countries in the world in eight indexes of competitiveness related to tolerance and coexistence during 2020, according to data issued by three of the major international references specia- -lised in competitiveness. This means that the country has succeeded in achieving global leadership levels in this field, exceeding the ...

Bloomberg Saudi Arabia’s equities index extended a winning streak to five sessions on Sunday, following another positive week for crude prices. The Tadawul All Share Index climbed 0.9%, with gauges in Bahrain, Oman, Kuwait, Qatar and Israel also rising. The index in Dubai finished little changed while and Egypt’s EGX 30 declined 0.9%. Oil, the main export for Gulf countries, ...