News

ABU DHABI / WAM As climate change continues to be one of the greatest challenges facing mankind today, and in light of research revealing a fast-emerging market opportunity valued at $7.1 trillion, the World Future Energy Summit has announced the introduction of a new Climate and Environment Expo & Forum, hosted in partnership with the UAE Ministry of Climate Change ...

Bloomberg Huawei Technologies Co sold its Honor smartphone business to a Chinese government-backed consortium for an undisclosed amount, hiving off the entry-level devices arm after the Trump administration cut off its access to American technology. The consortium was formed by the Shenzhen Smart City Technology Development Group Co and more than 30 of Honor’s partners, agents and dealers, from private ...

Bloomberg Tesla Inc, Elon Musk’s 17-year-old upstart carmaker, took a giant step towards blue-chip respectability, getting named to one of the world’s most famous stock indexes in an action that will greatly broaden its investor base. The announcement that Tesla will enter the S&P 500 on December 21 follows months of speculation, and one temporary setback, after the stock failed ...

Bloomberg German Chancellor Angela Merkel expressed optimism that a recovery in Europe’s biggest economy will gather pace once the coronavirus pandemic is brought back under control. Merkel said that while the situation remains “very serious,” officials are better equipped now to fight the disease than at the start of the outbreak in the spring. She cited recent progress in developing ...

Bloomberg Airbnb Inc’s long awaited filing for an initial public offering (IPO) makes the devastation wrought by Covid-19 abundantly clear, and shows how its business now hangs on domestic travel. Since the coronavirus pandemic swept across the globe in March, closing borders and grounding flights, the travel sector’s woes have been on full display. Public companies such as Marriott International, ...

Bloomberg Vodafone Group Plc beat estimates and expects sales to recover from a first half when Covid-19 lockdowns sent mobile roaming income tumbling. Vodafone’s organic service revenue fell 0.4% in the financial second quarter that ended on September 30, better than the 2.3% average estimate of analysts compiled by Bloomberg. Europe’s second-biggest phone company nudged up its outlook, seeing full-year ...

DUBAI / WAM HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, and General Supervisor of the ‘Dubai: Capital of Islamic Economy Initiative’ said that the UAE has accumulated extensive expertise in the field of Islamic Economy and established a robust fintech infrastructure that places it in a strong position ...

ABU DHABI / WAM Abu Dhabi Ports, part of ADQ, have signed a MoU with DNV GL, a consultancy of independent maritime and energy experts, to accelerate the sustainable development of Abu Dhabi’s maritime ecosystem. Under the terms of the agreement, both companies agree to work together in advancing the digital transformation and further economic development of Abu Dhabi’s maritime ...

ABU DHABI / WAM The Federal Authority for Nuclear Regulation (FANR), of the UAE and the Nuclear and Radiological Regulatory Commission (NRRC), of Saudi Arabia convened a meeting to explore and strengthen mutual collaboration. Both parties discussed potential cooperation in regulatory aspects related to nuclear safety, nuclear security, nonproliferation, legal and regulatory framework, emergency preparedness and response. The meeting was ...

DUBAI / WAM The Mohammed Bin Rashid Aerospace Hub (MBRAH), the region’s first aerospace hub, has completed 70 percent of its infrastructure development, a top executive told Emirates News Agency, WAM. The industry partners have completed 30 percent of their projects in the Hub, Tahnoon Saif, CEO of MBRAH, revealed in an exclusive interview. The MBRAH, based in Dubai South, ...