News

  Bloomberg Spanish inflation slowed for a fifth straight month in December, decelerating by nearly half since mid-year as energy costs continue to decline in the euro zone’s fourth-largest economy. Consumer prices rose 5.6% from a year earlier, down from a 6.7% advance in November, the statistics institute said. That’s a better reading than the 5.8% median estimate in a ...

Bloomberg Tesla Inc is expected to announce record quarterly deliveries in early January but that may not be enough to satisfy investors as the electric-vehicle leader grapples with inflation, rising interest rates, crimped production in China and concerns about softening demand. In an effort to clear inventory, Tesla offered a rare $7,500 discount to US customers who took delivery of ...

  Dubai / WAM Starting from January 1, 2023, private sector companies with 50 employees or more that have not raised Emiratisation targets by 2 percent of skilled jobs in 2022, will be fined, the Ministry of Human Resources and Emiratisation (MoHRE) said on Thursday. The fines are AED6,000 per month, a total of AED72,000 annually, for each Emirati who ...

  Abu Dhabi / WAM Emirates Water and Electricity Company (Ewec) has announced that, for the first time, over 60% of the total power demand was delivered from renewable and clean energy sources. The achievement was announced this month, with a generation of approximately 5.5 gigawatts (GW) of the total 8.6GW system power demand being supplied from Ewec’s solar power ...

  Abu Dhabi / WAM The Arab Monetary Fund (AMF) said that the Arab construction sector has recovered from the impacts of the Covid-19 pandemic, with its contribution to GDP in 2021 amounting to around $186.8 billion, up from $178.3 billion in 2020, or a 4.7% increase. The UAE and Saudi construction sectors contributed the most to their countries’ GDPs, with ...

Dubai / WAM Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, visited the Industrial Innovation Group (IIG), the world’s leader in security printing, biometric and global systems national entities and corporates headquarter in Sharjah, to explore the scientific research lab, new trends in advanced technology, and collaboration aspects. Al Olama said ...

  Abu Dhabi / WAM Abu Dhabi Islamic Bank (Adib) on Thursday announced the launch of the region’s first tokenised, contactless payment methods through the options of clasp and ring “Adib Pay”, in partnership with token enablement service provider Tappy Technologies and global digital payments leader, Visa. Samih Awadhalla, Acting Global Head of Retail Banking at Adib, said, “Adib continues ...

Sharjah / WAM Arada has completed Nest, a premium purpose-built housing cluster based in Aljada community in Sharjah. The AED700 million Nest complex features 2,473 fully furnished dormitories (both individual and shared) spread over 12 apartment blocks. Situated on a 380,000-square-foot plot located next to Aljada’s business district, Nest is a smart technology-enabled cluster that sets a new standard for ...

  Dubai / WAM Dubai Chamber of Commerce launches the Cloud Computing Business Group, connecting firms within the sector to encourage productive dialogue on ways to propel and embed cloud computing services across various business industries in Dubai. Commenting on the launch, Maha AlGargawi, Executive Director of Business Advocacy at Dubai Chambers said, “As one of the most future-ready nations ...

Dubai / WAM The MSC World Europa, a futuristic, lower-carbon-fuelled cruise ship, made its first call at Mina Rashid, after serving as a floating hotel during the 2022 FIFA World Cup. The vessel began its new winter season with a four-night sail from Doha to Dubai, reinforcing Mina Rashid and the emirate’s position as the region’s most preferred destination for ...