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Bloomberg The European Union (EU), set to become one of the largest issuers of green and sustainable bonds, will sell debt for the first time in 2021 off the back of record-breaking demand last year. The bloc will likely issue 14 billion euros ($17 billion) of seven-year and 30-year social bonds for a job support program in the coming week. ...

Bloomberg Instacart is cutting about 1,900 employees’ jobs, including 10 workers who formed a union, as the company seeks to boost its ranks of contract workers. The grocery delivery company already classifies most of its workers as independent contractors, whose numbers have ballooned to more than 500,000 during the coronavirus pandemic. But starting in 2015, the company hired a small ...

Bloomberg Volkswagen AG said a robust sales recovery toward the end of the year helped cushion annual results from the effects of the pandemic. Operating profit before one-time items related to VW’s diesel-emissions scandal falls to about 10 billion euros ($12.2 billion) last year, VW said in a statement, from 19.3 billion euros in 2019. Automotive net cash flow shrunk ...

ABU DHABI / WAM Suhail Al Mazrouei, Minister of Energy and Infrastructure, has said that the UAE seeks to reduce the carbon footprint through the implementation of the Energy Strategy 2050, which aims to reduce carbon dioxide in the country by 70%. “The world aspires to accelerate the energy transition towards a low-carbon future and seeks to reduce emissions,” he ...

ABU DHABI / WAM/Agencies The Abu Dhabi Executive Council has approved a framework between Abu Dhabi Government and Aldar Properties for the development of capital projects in the emirate. The decision follows the recommendation of the Abu Dhabi Executive Committee to establish a public-private partnership framework for the development of capital projects in the emirate and the subsequent Memorandum of ...

ABU DHABI / WAM The National Central Cooling Company (Tabreed), has announced that it is expanding its partnership with Masdar by developing and connecting Masdar and Tabreed infrastructure to help increase operating synergies further. The collaboration represents another major milestone in Tabreed’s strategy of providing efficient cooling to sustainable cities around the world, and expands on Tabreed and Masdar’s existing ...

Dubai / WAM HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, on Wednesday announced the commencement of a rehabilitation project of the historical Al Fahidi Fort, which is home to the Dubai Museum. The project is being carried out as part of the vision of the late Sheikh Rashid ...

ABU DHABI / WAM Mubadala Investment Company, the Abu Dhabi-based global investor, and Schneider Electric, the global leader in the digital transformation of energy management and automation, have agreed to collaborate in a number of sustainability-related areas, both in the United Arab Emirates and globally. The agreement provides for the exploration of a multi-faceted collaboration across a number of business ...

SHARJAH / WAM Sheikh Fahim Al Qasimi, Chairman of the Department of Government Relations (DGR) in Sharjah, has explored potential ways of strengthening cooperation between Sharjah and Brasilia in vital sectors including culture, sports and science, with Fernando Luis Lemos Igreja, Brazilian Ambassador to the UAE. Both parties discussed the possibility of establishing Brazilian cultural centre in the emirate to ...

Bloomberg Brent oil extended gains to above $56 a barrel, rising with other assets on hopes of more US economic stimulus. While crude prices have undulated with the dollar and broader risk assets in recent days, it’s also being supported by renewed strength in the market’s structure. US crude’s closest contract is near the most expensive versus those for six ...