DUBAI / WAM Silver Line Gate Group (SLG) is constructing a new manufacturing, warehouse and corporate offices facility, spanning 1.37 million square feet at Dubai Industrial City, a member of Tecom group. The AED200 million manufacturing facility is set to open in Dubai Industrial City in 2025 to bolster the UAE’s commitment to building a self-reliant food security programme. SLG ...

BLOOMBERG Prime Minister Rishi Sunak is committing more than £360 million to cutting-edge technologies under plans to make Britain a science “superpower” by the end of the decade, as he starts to sketch out his vision in the build-up to next week’s budget. Under a 10-point Science and Technology Framework, a “coordinated cross-government approach” will drive innovation in “trailblasing” technologies ...

BLOOMBERG Starbucks Corp is investing £30 million ($36.1 million) to open and renovate coffee shops in the UK, pushing on with expansion in a market where profit has dropped due to soaring costs of coffee beans and labour. Starbucks aims to add 100 stores in the UK in the next year, the US coffee chain said as it reported results ...

BLOOMBERG German Chancellor Olaf Scholz said talks were constructive with the European Union in resolving a dispute over plans to ban new combustion-engine cars in the bloc from 2035, after Berlin derailed the effort this past week. Scholz met with European Commission President Ursula von der Leyen on the sidelines of a government retreat in Meseberg north of Berlin. The ...

BLOOMBERG Taiwan’s Zerova Technologies is riding a boom spurred by demand for greener cars in the US. The maker of electric-vehicle charging systems is also navigating Joe Biden’s Inflation Reduction Act (IRA), and according to Chief Executive Officer Jay Yang, it isn’t an altogether positive law. His take is that efforts to minimise reliance on China in the EV supply ...

BLOOMBERG Global stock markets paused on Monday after last week’s rally, as investors waited to see if US Treasury yields would extend their declines off recent highs and assessed the potential impact of China’s modest new economic growth target. Europe’s Stoxx 600 index firmed slightly, while futures contracts on the S&P 500 and Nasdaq 100 traded around flat, struggling to ...

BLOOMBERG The UK equity market’s record valuation gap to the US is increasing pressure on its companies to maximise shareholder returns through options such as relisting abroad, according to Citigroup Inc. The MSCI United Kingdom Index now trades at a record 40% discount to the US on a 12-month forward earnings-based valuation, strategists including Beata Manthey wrote in a note ...

DUBAI / GULF TIME CellSave Arabia, the UAE’s only licensed private stem cell biobank, is proud to be at the forefront of the regenerative medicine revolution. In 2022, the company successfully released over 100 stem cell units from its state-of-the-art laboratories for transplant to treat over 12 diseases in the UAE. These achievements are a testament to CellSave Arabia’s commitment ...

DUBAI / GULF TIME American manufacturer of bicycles for comfortable riding, Electra Bicycle Company, announced its entry into the UAE market. It has recently opened a 2 million- euro flagship store spanning an area of 109 square meters in Bluewaters Island in Dubai. The staff can speak five languages, so customers from different countries can easily talk to them. The ...

ABU DHABI / WAM Thought leaders and entrepreneurs from around the world discussed the opportunities presented by AI and quantum computing to optimise efficiency and growth in all walks of life, during Investopia 2023 conference. The session, titled “Quantum Leap: Transforming Industry Through Quantum Computing & AI”, was led by Jan Goetz, CEO and co-Founder of IQM Quantum Computers, Joanna ...