News

  Bloomberg The threat of recession, the cost-of-living crisis and mounting debt distress will dominate the global economy in the next two years as it struggles to move on from the pandemic and war in Ukraine, according to a survey by the World Economic Forum. Its Global Risks Report, an annual poll of 1,200 government, business and civil society professionals ...

  Bloomberg Barratt Developments Plc has seen a sharp slowdown in sales rates as high borrowing costs and the threat of a house price plunge combine to undermine the UK property market. The average number of weekly private sales at Barratt’s sites has more than halved, leading the firm to warn that it could deliver fewer homes than currently expected, ...

Bloomberg For years, Elon Musk paid zero dollars for traditional advertising while almost singlehandedly keeping Tesla — and himself — front and center. With a never-ending stream of tweets, television and podcast appearances and livestreamed product events, the electric-vehicle maker and its billionaire CEO dominated news cycles and occasionally went viral. Musk was a veritable hype machine, and his knack ...

Geneva / WAM Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment, headed the UAE delegation participating in a high-level international conference held in Geneva, which was organised by the Pakistani government and the United Nations. Held in the presence of Pakistani Prime Minister Shehbaz Sharif and UN Secretary-General António Guterres, the conference aimed to discuss efforts to ...

  Abu Dhabi / WAM The UAE welcomed the start of the final round of Sudan’s political process leading to a civilian-led government and expressed its wishes for the success of Sudanese parties in their aim to complete the transitional phase. The Ministry of Foreign Affairs and International Cooperation underscored the UAE’s readiness to deepen cooperation with Sudan and advance ...

  Abu Dhabi / WAM Masdar announced the signing of an agreement with the Ministry of Energy of Kyrgyz Republic to develop a pipeline of renewable projects in the country. The projects, with a total capacity of up to 1 gigawatt (GW), start with a 200-megawatt solar photovoltaic (PV) plant. The implementation agreement was signed by Ibraev Taalaibek Omukeevich, Minister ...

  Abu Dhabi / WAM Abu Dhabi National Oil Company (Adnoc) has announced the formation of Adnoc Gas, effective January 1, its new world-scale gas processing, operations and marketing company. The flagship company combines the operations, maintenance and marketing of the Adnoc Gas Processing and Adnoc LNG businesses into one global and market-leading consolidated business. As Adnoc grows its gas ...

  Manama / WAM Investcorp, a Bahrain-based asset manager which counts Mubadala Investment Company as its biggest shareholder, announced on Tuesday that it is planning to invest up to $1 billion in the real estate market in the GCC over the next five years. This follows Investcorp’s first real estate acquisition in Saudi Arabia. The investment is a new, state-of-the-art, ...

  Abu Dhabi / WAM Mubadala Investment Company PJSC (Mubadala), an Abu Dhabi sovereign investor, and National Resilience, Inc. (Resilience), a technology-focused manufacturing company dedicated to broadening access to complex medicines, have signed a deal to further advance the UAE’s life sciences ecosystem through biopharma manufacturing. Through a development agreement, Mubadala will establish the new manufacturing facility, in which Resilience ...

  Sharjah / WAM The Sharjah Chamber of Commerce and Industry (SCCI) has discussed economic cooperation and ways to boost business relations with a high-level business delegation from the Arab Colombian Chamber of Commerce. The discussions were held during the Sharjah-Colombia business forum organised by the chamber on the sidelines of the Colombian business delegation’s visit to the emirate of ...