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Dubai / WAM Mattar Al Tayer, Director-General and Chairman of the Board of Executive Directors of the Roads and Transport Authority (RTA), has announced that the RTA would unveil the initial design of the Hyperloop, which will be exhibited for the first time in the world, in collaboration with Virgin Hyperloop One, as part of its participation during UAE Innovation ...

Dubai / WAM The UAE Food bank will collect at the end of the Gulf Food Exhibition the food items that are being displayed at various stalls in the event and distribute them to needy people through authorised charity organisations. The UAE Food bank, which is participating in the Gulf Food Exhibition as part of its activities during the Year ...

Dubai / Emirates Business His Excellency Dr Thani bin Ahmed Al Zeyoudi, Cabinet Member and UAE Minister of Climate Change and Environment, visited the Barakah Nuclear Energy Plant today, where he witnessed the Emirates Nuclear Energy Corporation ‘s (ENEC) commitment to sustainability and environmental protection. His Excellency Dr Al Zeyoudi also observed the significant progress being made across all four ...

Bloomberg The future is electric for BP Plc, though it’s not giving up on oil just yet. The British company bumped up its forecast for electric vehicles by 80 percent to 180 million by 2035, according to an energy outlook. It expects a third of the miles driven in 2040 will be powered by electricity. The company forecasts the abundance ...

MANAMA / Reuters Bahrain will go ahead with imposing a value-added tax to stren-gthen state finances, Minister of Finance Sheikh Ahmed bin Mohammed al-Khalifa said on Wednesday, after domestic political opposition slowed the plan. “We’ll be working with parliament on VAT and aim to have everything set up by the end of 2018,” Sheikh Ahmed told an investment conference in ...

Bloomberg The US Energy Department is throwing its support behind a request by utilities to extend the life of some nuclear power reactors — keeping them in operation for as long as 80 years. An official with the department, who asked not to be named to discuss its decision-making process, said the agency was conducting research and working with utilities ...

Bloomberg Oil dropped as US stockpiles were forecast to have expanded for a fourth week, raising questions about OPEC’s success in draining a global oversupply. Crude in New York lost as much as 1.4 percent. Inventories in America rose by 3 million barrels last week, according to a Bloomberg survey. Oil has struggled to regain January’s highs as equities remain ...

Bloomberg General Motors Co. has offered a $2.8 billion new investment plan for its South Korean business after threatening to exit the country amid mounting losses, a lawmaker from the nation’s ruling party said. The investment, being proposed for the next 10 years in South Korea, is needed to produce new models, for research and development, to renovate facilities and ...

Bloomberg Nissan Motor Co. may get a boost from a deepening relationship with Japan’s biggest trading house as access to battery materials becomes a priority amid the industry’s push into electric vehicles. Mitsubishi Corp. said it plans to double its stake in Mitsubishi Motors Corp., of which Nissan is the biggest shareholder. The trading company, which also owns mining assets, ...

Bloomberg Singapore remains a competitive destination for businesses even though it’s raising taxes and maintaining some restrictions on foreign workers, Minister for Trade and Industry S. Iswaran said. “When you take into account the whole scheme of taxes, including corporate tax regimes, personal tax regimes, I think Singapore still remains a competitive destination in relative terms,” Iswaran said. “We never ...