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Abu Dhabi / WAM Masdar, a subsidiary of Mubadala Investment Company and a leading renewable energy companies, announced on Wednesday the financial close of the Nur Navoi Solar Project – Uzbekistan’s first successfully-financed independent power producer (IPP) solar project. Loan and guarantee agreements to finance the 100-megawatt photovoltaic plant were signed in a virtual ceremony with representatives from Masdar, Uzbekistan’s ...

Sharjah / WAM The Big Heart Foundation (TBHF), a Sharjah-based global humanitarian organisation dedicated to helping refugees and people in need worldwide, has announced the building of an AED2 million sustainable village in Niger in West Africa, which will be named after the late Sheikh Khalid bin Sultan Al Qasimi. To be implemented in partnership with Sharjah Charity International, the ...

ABU DHABI / WAM Abu Dhabi Securities Exchange (ADX) announced that Zee Stores PJSC, has listed its shares on ADX’s Second Market under the ticker symbol ZS, and trading begins on the shares on Wednesday. The company’s nominal value of share capital is AED 100 million, with each share having a nominal value of AED 1. This is the third listing ...

Dubai / WAM Dubai Economy signed a memorandum of understanding (MoU) with the Emirates Payment Services to enable payments relating to commercial licences through the Empay smart application, the world’s first contactless instant credit lifestyle payment ecosystem. The agreement will enable customers of Dubai Economy to have an instant credit facility and complete licencing transactions within five minutes. Users registering ...

Bloomberg India has been ordered to return over $1.2 billion to Cairn Energy Plc after Prime Minister Narendra Modi’s administration lost arbitration proceedings in a tax dispute, its second defeat since September over such levies. An international arbitration tribunal ruled that India’s tax claim was not valid and asked the government to repay the funds, along with interest, to Cairn. ...

Bloomberg Russia expects nothing good in relations with a “deeply hostile” US under the incoming administration of Joe Biden and has no plans to make unilateral concessions to improve ties, Deputy Foreign Minister Sergei Ryabkov said. “We are heading from bad to worse,” Ryabkov said in an interview with the Interfax news service published on Wednesday, which he later confirmed ...

Bloomberg Vital trade and travel links between the UK and continental Europe slowly reopened after France lifted a blockade at Britain’s busiest port that heightened a sense of economic isolation as the pandemic worsened and a high-stakes political drama unfolded over Brexit. European Union citizens and residents able to show negative Covid-19 tests will be able to travel from the ...

Bloomberg President Donald Trump injected confusion into the outlook for Covid-19 relief, demanding changes to the bipartisan legislation approved by Congress. In a surprise video announcement posted on his Twitter account, Trump called the bill a “disgrace” and said it was full of “wasteful and unnecessary” items. He demanded that lawmakers increase stimulus checks due to go out to most ...

Bloomberg Apple Inc. Chief Executive Officer (CEO) Tim Cook refused to take a meeting years ago to discuss acquiring Tesla Inc., Elon Musk said. Tesla CEO Musk said in a tweet that he reached out to Apple during the “darkest days” of development of his company’s Model 3 to talk about a possible deal. Musk said he planned to discuss ...

Bloomberg American shoppers shunned stores and extended their online binge during the last weekend before Christmas, adding to a package-delivery logjam that’s now reaching a crescendo. There’s “a lot of stuff all hitting at once,” said Craig Johnson, president of Customer Growth Partners. “I think it’s past the time for creative. They have to charge people extra to get it ...