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  DUBAI / WAM Dubai’s Roads and Transport Authority (RTA) announced that Tesla Model 3 had been added to Dubai Taxi Corporation’s taxi fleet on a trial basis, following the huge success of operating 172 Tesla vehicles in the limousine service since 2017. The trial operation aims to verify the efficiency of the vehicle when deployed on the taxi fleet ...

Bloomberg The global surge in the cost of fuel is starting to weigh on demand, according to the world’s biggest independent oil trader. Consumers are being hit by the run-up in gasoline, diesel and other oil products, Mike Muller, head of Asia at Vitol Group, said on Sunday on a podcast. “There’s very clear evidence out there of economic stress ...

Bloomberg Russia’s defense chief told President Vladimir Putin that Moscow’s troops have captured Lysychansk, the last major Ukrainian-held city in Luhansk, state media reported. The move would give Russia a stronger grasp on its goal of controlling Ukraine’s entire Donbas, an important industrial region. A Ukrainian defense official said Lysychansk is not under the “full control” of Russia. The capture ...

  Bloomberg Employers in the US probably added workers at a more moderate yet still healthy pace last month as the jobless rate held near its lowest level in decades, suggesting resilient labour demand even as the economy cools. The government’s latest payrolls tally is projected to show a 273,000 increase for June, based on the Bloomberg survey median. The ...

  Bloomberg Italy’s government plans further measures to cushion the impact of high energy prices, including extending a fuel tax holiday to the beginning of October, Il Messaggero newspaper reported. The package, likely to be approved in the second half of July according to the newspaper, would be worth around 8 billion euros ($8.3 billion). The cost would be covered ...

  Bloomberg The number of UK house sales fell in May, the latest sign that the red-hot property market is starting to cool. Sales agreed in May were down 13% year-on-year, according to Zoopla’s UK House Price Index report. The average time to agree a sale is also rising — taking 22 days in May, from 20 days in March. ...

  Bloomberg Volvo Car AB plans to build a $1.3 billion electric-vehicle factory in Slovakia, the company said. The new plant will be able to produce 250,000 electric cars per year, part of the company’s goal of reaching annual sales of 1.2 million cars by 2025 and switching its entire lineup to battery-powered vehicles by the end of the decade. ...

Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan witnessed the signing of the UAE-Indonesia Comprehensive Economic Partnership Agreement, alongside Indonesian President Joko Widodo in Abu Dhabi on Friday. This is the third such deal signed by the UAE this year, following the CEPAs with India and Israel, and is designed to increase annual bilateral trade ...

  Dubai / WAM The Union Coop on Friday announced its intention to list its shares on the Dubai Financial Market (DFM) on Monday, July 18, as the first retail cooperative in the UAE that takes this pioneering step. The listing is a part of the Securities and Exchange Higher Commission strategy aiming at increasing stock market size in the ...

  Abu Dhabi / WAM The Emirates Mars Mission ‘Hope Probe’ has identified new observations, in addition to its nominal set of observations, about Mars’ atmosphere in its fourth batch of scientific data. Collected by the Hope Probe’s instruments during its mission in Mars’ orbit from December 2021 to February 2022, the latest data demonstrate the capabilities of the instruments, ...