News

Bloomberg Tesla Inc. agreed to buy batteries from South Korea’s LG Chem Ltd. to be used in electric vehicles produced out in China, according to people familiar with the matter. Batteries made by LG Chem will be used initially in Model 3 cars manufactured in the plant near Shanghai, Tesla’s first outside of the US. LG Chem batteries will also ...

Bloomberg The German Chancellery now also expects Europe’s largest economy to slip into a mild recession in the third quarter, news magazine Der Spiegel reports. Gross domestic product contracted by 0.1% in the second quarter, and Angela Merkel’s economic advisers expect a similar result in the period between July and September. Economists at the German central bank had been making ...

Bloomberg The UK announced a $370 million investment aimed to spur the development of greener flights for people and goods. The government will put 125 million pounds into the initiative, which will to supplement 175 million pounds from industry, Prime Minister Boris Johnson’s office said in a statement late Friday. The intention is to support new technologies including freight-carrying drones, ...

Bloomberg The world’s largest cities need to invest billions of additional dollars into their infrastructure in order to secure citizen data, new research suggests. Of the roughly $135 billion expected to be spent globally on cybersecurity for critical city infrastructure in 2024, 44% will be split across data protection provisions for energy, health care, public security, transport, water and waste ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) announced on Wednesday the award of multi-billion-dollar contracts for the procurement of casing and tubing as it drives value through its smart approach to procurement. The combined scope of the three contracts awarded is one of the world’s largest in this category, maximising value for Adnoc across its drilling ...

GENEVA / WAM The United Arab Emirates is participating in dispute adjudication proceedings through the World Trade Organisation Dispute (WTO) Settlement Body during meetings being convened from August 21 to 23, in the presence of various states interested in the matter. The UAE affirms that the action and measures in question were intended to safeguard national security as a result ...

DUBAI / WAM Saeed Mohammed Al Tayer, Managing Director and CEO of Dubai Electricity and Water Authority (Dewa) received Li Xuhang, Consul-General of the People’s Republic of China in Dubai. Al Tayer congratulated Chinese Consul on the new post, wishing him success in his upcoming diplomatic missions. He emphasised the depth of UAE-China relations, as UAE is the second largest ...

Bloomberg Poor water quality saps one-third of potential economic growth in the most heavily polluted areas, according to a new global analysis by the World Bank that underscores how crucial clean water is to productivity. “Deteriorating water quality is stalling economic growth, worsening health conditions, reducing food production, and exacerbating poverty in many countries,” World Bank Group President David Malpass ...

Dubai / WAM Travel from the UAE to the island of Ireland has seen strong growth from January 01 until June 30, 2019, based on travel statistics released by dnata Travel, the UAE’s longest-standing travel agency, which is celebrating its 60th anniversary this year. Compared to the same period (H1) in 2018, UAE locals and residents have been visiting Ireland ...

ABU DHABi / WAM A new initiative to engage the Abu Dhabi community with solving social challenges has been launched today by the Authority of Social Contribution, Ma’an. Beginning from September, Ma’an’s Community Engagement Programme will provide individuals, government entities, companies and not-for-profit associations, with strategic direction on how people can contribute to social causes. Forming a key pillar of ...