News

Bloomberg European Sustainable Growth Acquisition Corp is buying Germany’s ADS-TEC Energy GmbH, which creates technology used for electric charging platforms, in a deal that will give the combined firm a market value of about $580 million. The transaction with the special purpose acquisition company, or SPAC, includes a $156 million private investment in public equity, or PIPE, with investors such ...

Bloomberg Germany will expand Covid-19 testing requirements for non-vaccinated people and end free tests to prod more residents to roll up their sleeves. Starting later this month, negative results will be required for people who haven’t been inoculated or can show they’ve recovered from the disease to eat in restaurants, go to the hairdresser and attend sporting events. The government ...

Bloomberg Coinbase Global Inc shares were little changed in extended trading after the largest US cryptocurrency exchange noted that customer usage slowed at the start of the current quarter. The warning came while the company said second-quarter profit jumped to $1.6 billion from $32 million a year earlier. Revenue climbed to $2 billion from $178 million. Analysts polled by Bloomberg ...

Bloomberg Rivian Automotive Inc, the electric-vehicle startup backed by Amazon.com Inc, is in talks to invest at least $5 billion to build a factory near Fort Worth, Texas, according to a document obtained by Bloomberg News. The factory — codenamed “Project Tera” according to the document — will be able to produce 200,000 vehicles a year, and will create at ...

ABU DHABI / WAM The UAE, through its humanitarian arm, the Emirates Red Crescent (ERC), is providing urgent aid to support civilians affected by wildfires in Greece. The UAE also assisted the efforts aimed at suppressing the fires, by deploying a helicopter to contain the wildfires on the borders of the Greek capital, Athens. The aid is upon the directives ...

ABU DHABI / WAM Adnoc Distribution on Tuesday reported that its first-half 2021 EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) stood at AED1.53 billion, with net profit of AED1.15 billion. For the second quarter, EBITDA was AED712 million with net profit of AED521 million, according to a press release on Tuesday. The strong results were driven by higher fuel ...

ABU DHABI / WAM As part of its efforts to support sisterly and friendly countries, the UAE dispatched an aircraft to the Comoros loaded with 300,000 Covid-19 vaccine doses and other medical supplies, including 600,000 injection needles, to facilitate the local vaccination process. Saeed Mohammed Al Maqbali, UAE Ambassador to Comoros, said dispatching the medical supplies aimed at addressing the ...

Abu Dhabi / Emirates Business Etihad Airways has announced operating and financial results for the first half of 2021, showing a progressive recovery across its business despite a slower than expected return to global air travel. The airline carried one million passengers in H1 2021, with an average seat load factor of 24.9%. This represents an average 10% month-on-month growth ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc), in partnership with Fertiglobe, has agreed to the sale of blue ammonia to Idemitsu in Japan, for using it in its refining and petrochemicals operations. The sale builds upon recently announced joint efforts to enhance industrial cooperation between the UAE and Japan and support the development of new UAE-Japan ...

DUBAI / WAM Emaar Malls recorded an increase in net profit by 80 per cent to AED 622 million ($ 169 million) during the first six months (January to June) of 2021, compared to a net profit of AED 345 million ($ 4 million), during the same period in 2020. Revenue for H1 2021 amounted to AED 2.048 billion, an ...