News

  Abu Dhabi / WAM Agthia group, one of the region’s leading food and beverage companies, on Thursday announced that it has signed a memorandum of understanding (MoU) with AD Ports group, the leading global facilitator of trade, logistics, and industry. The MoU was signed by Mubarak Almansoori, Chief Corporate Services Officer, Agthia group, and Qusai Kankazar, Chief Operations Officer, ...

Abu Dhabi / WAM The “Memory of the Nation” pavilion by the National Library and Archives is participating in the Sheikh Zayed Festival once again to enrich it with historical knowledge, foster patriotism, instil national identity, inculcate Emirati values and the honourable principles of good citizenship among generations. The “Memory of the Nation” features historical documents, photographs and documentaries and ...

  Sharjah / WAM Air Arabia, the low-cost carrier (LCC) operator, marked the inauguration of its direct flights from Sharjah to the city of Milan in Italy. An event was held at Sharjah International Airport ahead of the inaugural flight and the aircraft was received at Milan Bergamo Airport with a traditional water cannon salute. The new direct flights will ...

  GAZA / WAM The Abu Dhabi Exports Office (Adex) signed an agreement with Togo’s Ministry of Economy and Finance to raise the production capacity of the Mohamed bin Zayed Solar Park in the country from the current 50 megawatts to 70 megawatts. In addition, the financing will help procure 4MWh solar energy production storage system. Under the agreement, the ...

  Ras Al Khaimah / WAM Universal Carton Industries (UCI), one of UAE’s leading corrugated cardboard box manufacturing companies located in Ras Al Khaimah Economic Zone (Rakez), is investing AED55 million to expand its production volume to meet the growing demand for sustainable packaging solutions in the UAE and overseas. This expansion will increase UCI’s production capacity by threefold to ...

Bloomberg Mobile industry bellwether Murata Manufacturing Co expects Apple Inc to reduce iPhone 14 production plans further in the coming months because of weak demand, which would force the supplier to again cut its outlook for its handset-component business. “Judging by handset availability in stores, I see a downward revision happening,” Murata President Norio Nakajima said in an interview. “I ...

  Bloomberg Tesla Inc is offering further incentives to Chinese customers who buy and take delivery of new cars this month, in the latest move to boost sales in the world’s biggest electric vehicle market. Elon Musk’s EV pioneer will subsidise purchases by 6,000 yuan ($860) for Model 3 sedans and Model Y sports utility vehicles, which currently start at ...

  Bloomberg Indian households expect prices to cool in the coming days and the economy to improve, surveys from the central bank found. Inflation perceptions in November dropped by 40 basis points to 9.8%, according to a Reserve Bank of India survey of 6,066 urban households in 19 major cities. Three-month and one-year ahead expectations declined by 40 and 20 ...

Bloomberg VinFast, an electric carmaker backed by Vietnam’s richest man trying to take on Elon Musk’s Tesla Inc, has filed for an initial public offering in the US just as it prepares to deliver its first SUVs to California customers later this month. The unit of conglomerate Vingroup JSC, founded by Pham Nhat Vuong, is being advised by banks including ...

  Bloomberg China reported an increase in its gold reserves for the first time in more than three years, shedding some light on the identity of the mystery buyers in the bullion market. The People’s Bank of China (PBOC) raised its holdings by 32 tons in November from the month before, according to data on its website. That brought its ...