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DUBAI / WAM Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, announced that, during 2020, the number of electronic transactions performed by its customers surged noticeably to reach approximately 560,000, with an increase of more than 12 percent compared to the year 2019. This reflects the company’s apparent contributions to the ‘Dubai Paperless Strategy’ that ...

Bloomberg Ship owners facing looming deadlines to use less-polluting fuels have slashed the number of new vessels on order because they don’t know which alternative technology to switch to. Ammonia, hydrogen, biofuels and electrification are some of the many contenders to power the world’s future merchant fleet, but most are only in the trial stage and won’t be scalable for ...

Bloomberg The Trump administration’s final days are proving as confounding as ever for companies and investors stuck in the middle of an increasingly contentious US-China relationship. After a week of widespread confusion over the scope of a US ban on investments in businesses linked to China’s military, both Washington and Beijing took steps over the weekend that threaten to further ...

Bloomberg Britain is significantly less attractive as an international business location because of Brexit but remains well positioned compared with other major economies, according to a German study. The UK slipped behind the US to second place in the latest ranking published by Germany’s Foundation for Family Businesses, though it remains ahead of the rest of its Group of Seven ...

Bloomberg Apple Inc. and Amazon.com Inc. are removing Parler from their services, part of a growing backlash after the social media network was among those used to organise last week’s riots at the Capitol. Apple dropped Parler from its App Store, while Amazon’s cloud unit decided to stop hosting the social media company. They joined Alphabet Inc.’s Google, which removed ...

Bloomberg Twitter Inc. shares fall 6.1% in pre-market trading after the social media platform permanently banned outgoing President Donald Trump. The San Francisco-based company confirmed its decision in a blog post, saying Trump’s tweets breached policies by risking incitement to violence. It cited Trump’s posts referring to riots in the US capital last week. Mirabaud analyst Neil Campling said the ...

Bloomberg Despite the pandemic-induced recession of 2020, America’s young adults doubled their assets over the past four years, new data from the Federal Reserve show. This marks the first time the assets for so-called millennials have exceeded $10 trillion. But, this generation, the oldest of whom turn 40 this year, has a massive debt burden as well, according to the ...

Sharjah / WAM HH Sheikha Jawaher bint Mohammed Al Qasimi, wife of the Ruler of Sharjah and Chairperson of the Supreme Council for Family Affairs (SCFA), reiterated the contributions of the Holy Quran to the development of human civilisation for thousands of years while affirming that its teachings have paved the way for key milestones and human achievements in the ...

DUBAI / WAM Nakheel Malls, the retail arm of master developer Nakheel, has launched its data transformation initiative as part of a customer-centric strategy to benefit retailers and customers across Nakheel Malls’ assets. Using machine-learning algorithms and artificial intelligence-enabled data products, the fully governed, advanced platform provides key insights to more than 3,000 tenants by studying retail habits, purchases and ...

ABU DHABI / WAM Kim Young-ju, Chairman of the Korea International Trade Association (Kita), stated that the UAE and South Korea have had solid bilateral relations since the start of their diplomatic ties in the early 1980s, adding that the two friendly countries established a strategic partnership in 2018 during the official visit of Moon Jae-in, President of South Korea, ...