News

  Bloomberg Tesla Inc is building 3,000 Model Y SUVs a week at its new Austin, Texas, factory — a sign that the electric-car maker is making up for lost time at the money-losing plant. Tesla shared the new production figure in a tweet. The milestone comes a week after Bloomberg News reported that Chief Executive Officer Elon Musk had ...

Bloomberg Private-sector activity in the euro area’s top two economies shrank in December, but while France faces a greater risk of falling into recession, the downturn underway in Germany is showing signs of easing as inflation cools. S&P Global’s flash Purchasing Managers Index for France dropped to its lowest level in almost two years, unexpectedly falling to 48 on service-sector ...

  Bloomberg Renault SA’s board named CEO Luca de Meo as a director and reappointed Chairman Jean-Dominique Senard for another four-year term, a sign of support for their plan to reshape the partnership with Nissan Motor. De Meo, 55, will replace Frederic Mazzella on the French company’s 16-member board, the maker of Austral and Megane E-Tech cars said, confirming a previous ...

  Bloomberg Starbucks Corp baristas at 50 locations throughout the US are starting a three-day strike, saying the company isn’t bargaining fairly with recently unionised stores. Organisers say the planned strike will involve more than 1,000 workers, making it the biggest multiday work stoppage ever by Starbucks Workers United, the labour group that’s prevailed in elections at about 270 of ...

  Dubai / WAM Dubai has cemented its first place for a second consecutive year in the region, ranking second globally in the Top City Destinations Index 2022 of Euromonitor. The UK-based market research company in its latest rankings has uncovered the top city performers for economic and business activity, with thriving tourism infrastructure and performance that show great potential ...

  Dubai / WAM Amea Power announced on Thursday that it has been awarded a 120 megawatts (MW) solar photovoltaic (PV) project in South Africa as part of the sixth bid submission phase of the renewable energy independent power producer procurement (REIPPP) Programme. The Doornhoek PV project will sell electricity to the state utility, Eskom, under a 20-year power purchase ...

  Dubai / WAM Dubai Chambers on Thursday organised a meeting to bring the COP28 UAE Presidency and Dubai’s business community together to discuss how the private sector can engage and benefit from the journey towards COP28. The meeting reaffirmed that businesses across all sectors must revisit their business models and restructure it to support sustainable development. The event also ...

  Abu Dhabi / WAM The non-oil trade exchange between the UAE and Bahrain over the past 10 years increased by over 92 percent, totalling AED23.7 billion compared to AED12.3 billion in 2012, according to recent data issued by the Federal Competitiveness and Statistics Centre (FCSC), Their total non-oil trade exchange during the same period also amounted to AED188 billion, ...

Dubai / WAM Etihad Credit Insurance (ECI), the UAE Federal export credit company, has signed a memorandum of understanding (MoU) with Ras Al Khaimah Economic Zone (Rakez) to support the emirate’s path towards economic diversification by stimulating its non-oil foreign trade. The MoU came as part of ECI’s continuing effort to support Ras Al Khaimah’s strategy to boost its burgeoning ...

  Abu Dhabi / WAM The Abu Dhabi SME Hub, the interactive knowledge platform launched in 2021 as a public-private partnership initiative, has expanded its offerings to empower mSMEs and startups to drive the growth of this vital sector and contribute positively to sustainable development. The platform is a collaboration between the Abu Dhabi Department of Economic Development (Added), Khalifa ...