News

  Bloomberg Pilbara Minerals Ltd, one of Australia’s biggest lithium producers, plans to build a demonstration plant in Western Australia capable of refining the material that’s key to the booming global battery metals market. The pilot plant would process Pilbara Minerals’ hard-rock ore into lithium salt near the company’s Pilgangoora Project in Western Australia, in a joint venture with Australia’s ...

  Bloomberg South Korean house prices recorded the biggest decline in nine years as the central bank’s 16-month tightening cycle weighs on the property market, adding to credit concerns for policy makers. Nationwide home prices dropped 0.32% in November from a year earlier, while Seoul slid 0.12%, according to data from Kookmin Bank. South Korean surveyors tend to count the ...

  Bloomberg Pakistan has halted payments for in-app purchases including online video games bought by local customers using airtime from telecommunications companies, the latest sign of distress caused by the country’s depleted foreign-exchange reserves. Telecom service providers were violating regulations by allowing payments to be made for customers under an arrangement with the government that permitted the phone companies to ...

Bloomberg Apple Inc partner Foxconn is offering bonuses of as much as $1,800 to existing workers at its Zhengzhou facility, hoping to sustain the staff levels it needs to run the world’s largest iPhone factory. Foxconn, also known as Hon Hai Precision Industry Co, will top up wages by as much as 13,000 yuan per month in December and January ...

  Abu Dhabi / WAM Statistics Centre – Abu Dhabi (Scad) has announced statistical data that show expansion of Abu Dhabi’s gross domestic product (GDP) in the first half of 2022, reaching 11.2 percent compared to the same period last year. The growth reflects the emirate’s robust performance and the ability of the economy to maintain competitiveness and sustain growth ...

  Abu Dhabi / WAM UAE cabinet has announced public holidays calendar for both public and private sectors for the year 2023. The announcement include January 1 as an official holiday on the occasion of the New Year, Ramadan 29 to Shawwal 3 the Eid Al Fitr holiday, Zul Hijjah 9 for the Arafah Day, Zul Hijjah 10-12 to mark ...

  Dubai / WAM Dubai Chambers has unveiled new plans to establish new country-specific business councils operating in Dubai and expand their roles to support ongoing efforts to boost Dubai’s non-oil foreign trade and create new channels of economic cooperation between business communities in the emirate and promising markets around the world. The announcement was made by Abdul Aziz Al ...

  Bloomberg Oil posted a third weekly loss as the European Union (EU) suspended talks over a Russian oil price cap amid disagreements between member states. West Texas Intermediate futures falls 2.1% to settle at $76.28 a barrel after trading in a more than $3 range. European diplomats remain locked in talks over how strict the cap should be, having previously ...

  Sharjah / WAM The Sharjah Chamber of Commerce and Industry (SCCI) discussed with the Moscow Chamber of Commerce and Industry the cooperation chances for business communities in Sharjah and Moscow, and how to benefit from the strong ties between the UAE and the Russian Federation to discover rewarding opportunities in industries that characterise the economies of both sides, especially ...

  Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has approved the Dubai Countryside and Rural Areas Development Master Plan, spanning an area of 2,216 square kilometres. The plan seeks to preserve the nature of areas including Lehbab, Margham, Al Marmoom, Al Lisaili, Al Faqaa ...