News

  Bloomberg The US and other industrialized countries may be able to bring inflation down without triggering the huge jumps in unemployment that economists may have predicted prior to the pandemic, according to new research from the Federal Reserve Bank of Chicago. If correct, that might improve the chances for a soft landing of the US economy as the Fed ...

Bloomberg UK Prime Minister Rishi Sunak will look to begin closing a series of pay deals with trade unions, as the government enters 10 days of crunch talks ahead of coordinated strike action planned for early February. Members of the Cabinet have told Sunak he must act fast to avoid a week of strikes that threaten to bring the country ...

  Bloomberg Auto supplier ZF Friedrichhafen AG and Wolfspeed Inc. plan to build a $3 billion wafer factory in Germany’s Saarland to make chips for electric vehicles and other applications, a boon for a region dependent on combustion-engine components, said people familiar with the matter. The go-ahead for the project is subject to commitments on subsidies amounting to a quarter ...

Abu Dhabi / WAM Masdar has demonstrated its commitment to helping African nations in their clean energy transition by signing agreements at Abu Dhabi Sustainability Week (ADSW) 2023 with three countries – Angola, Uganda and Zambia – to develop renewable energy projects with a combined capacity of up to 5 gigawatts (GW). The agreements were signed under the umbrella of ...

  Abu Dhabi / WAM Abu Dhabi Health Services Company (Seha) on Friday inaugurated the third Abu Dhabi Integrated Mental Health Conference, which is taking place till January 21 at the Abu Dhabi National Exhibition Centre (Adnec). Held in cooperation with the Department of Health Abu Dhabi (DoH), the conference is part of the capital’s efforts towards driving mental health ...

  Abu Dhabi / WAM Abu Dhabi National Energy Company (Taqa) announced on Friday that it has entered into the Operations and Maintenance (O&M) of the Taweelah B Independent Power and Water Plant (Taweelah B IWPP) and acquiring an additional stake in the plant. As part of a transaction valued at $65 million (approx. AED239 million), Taqa has completed its ...

Abu Dhabi / WAM Building on its ongoing efforts to improve the healthcare ecosystem from all aspects, the Department of Health – Abu Dhabi (DoH), the regulator of the healthcare sector in the emirate, signed a strategic memorandum of understanding (MoU) with the Geneva Sustainability Centre (GSC). The GSC is an organisation powered by the International Hospital Federation (IHF) focused ...

  VIENNA / WAM The Opec Fund for International Development priced its inaugural benchmark bond issue in the capital markets on Wednesday. The bond was priced using its Sustainable Development Goal (SDG) bond framework on which Credit Agricole CIB acted as sole sustainability advisor. Attracting strong demand from investors globally, the 3-year fixed-rate sustainability bond raised $1 billion, which will ...

  Dubai / WAM A total of 2,704 real estate transactions worth over AED13 billion were conducted during the week ending January 20, according to figures released by the Dubai Land Department (DLD). The DLD report showed that 235 plots were sold for AED1.13 billion, while 1,944 apartments and villas were purchased for AED4.39 billion. The top three transactions were ...

  Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has announced that 2023 will be the “Year of Sustainability”. The “Year of Sustainability” will include several initiatives, activities and events that draw upon the UAE’s deep-rooted values of sustainability and the legacy of its founder, the late Sheikh Zayed bin Sultan Al Nahyan. It will ...