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ABU DHABI / WAM The Statistics Centre Abu Dhabi, SCAD, released its annual national accounts report for 2018, in addition to the quarterly reports for the second and third quarters of 2019, where, cumulatively, the results showed a significant increase in Abu Dhabi’s gross domestic product (GDP). The GDP at current prices reached AED932.4 billion in 2018, compared to AED813.6 ...

Abu Dhabi / WAM The Abu Dhabi Fund for Development (ADFD), on Sunday confirmed the allocation of approximately $105 million for eight renewable energy projects under the seventh cycle of its partnership with the International Renewable Energy Agency (Irena). The Irena/ADFD Project Facility announcement marks a record level of funding for any cycle since the Facility was launched and will ...

DUBAI / WAM Emirates Central Cooling Systems Corporation, Empower, announced its participation in the thirteenth edition of the World Future Energy Summit 2020, the world’s largest annual conference on renewable and future energy solutions. The summit is being held from January 13-16 at the Abu Dhabi National Exhibition Centre (Adnec). The World Future Energy Summit 2020 is a global industry ...

Bloomberg The Treasury Department is proposing that the Trump administration revive twice-yearly talks with China to discuss the economic relationship between the countries, according to people familiar with the matter. The talks — if they go ahead — would be separate from phase-two negotiations on a further trade deal that president Donald Trump has said he wants to start “right ...

Bloomberg Carlos Ghosn’s decision to flee to Lebanon last week effectively ended his legal prosecution in Japan, leaving former Nissan Motor Co executive Greg Kelly at the center of the sprawling case. Under Japanese criminal law, only minor accusations can be tried without a defendant, according to Nobuo Gohara, a former prosecutor. That’s not Ghosn. If found guilty of the ...

Bloomberg Tesla Inc’s growth potential in China means the stock is undervalued even after a recent rally pushed the shares almost to $500 apiece, analysts at Piper Sandler Cos said while boosting their target price by more than 30%. Piper raised its target to $553 from $423, making it the most bullish among forecasters tracked by Bloomberg. The stock has ...

Bloomberg Byju’s is raising about $300 million in a funding round led by New York-based Tiger Global Management, securing new capital at a valuation of $8 billion for the online education startup’s global expansion. Tiger has invested about $150 million in Byju-parent Think and Learn Pvt, according to people familiar with the deal. Existing investors will likely contribute about the ...

Bloomberg The French government signalled it’s prepared to scrap an effort to raise the age at which workers can retire with full benefits to 64 in a bid to get the country’s moderate unions on board with president Emmanuel Macron’s pension reform plan. “I am prepared to withdraw from the bill the short-term measure which I had proposed, consisting of ...

Bloomberg Libya’s warring factions have embarked on a tenuous ceasefire in a nine-month war that has drawn in Russia and Turkey, following a call by the presidents of both countries to halt the fighting. Forces loyal to eastern military commander Khalifa Haftar, who launched the war in April against the internationally recognised government, and the Tripoli-based government reduced violence as ...

ABU DHABI / WAM The global energy sector’s transition towards attaining climate change mitigation and adaptation is often deemed as a controversial and expensive process. However, according to experts attending the Atlantic Council Global Energy Forum, the UAE has proven its ability to rise as a sustainable energy leader employing Carbon Capture, Utilisation and Storage, CCUS, as a means to ...