Bloomberg Xiaomi Corp is facing difficulties getting regulatory approval for its electric vehicle project in China, an unexpected hurdle for the smartphone giant’s $10 billion car-making endeavour. The Beijing-based company has been talking to officials at the National Development and Reform Commission (NDRC) about the licensing for months without success, according to people familiar with the matter. Xiaomi is one ...

  Bloomberg Renault SA will carry out a plan to carve out electric and combustion-engine businesses, even without its Japanese auto-making partners. “They know that we have to do it, that we will do it and we’ve opened the door for them to each project,” Chief Executive Officer Luca de Meo said in an interview on Bloomberg Television. “At the ...

  ABU DHABI / WAM In line with the emirate’s commitment to adopting international best practices and making healthcare services further accessible to all community members, the Department of Health – Abu Dhabi (DoH), announced that Covid-19 vaccines and PCR tests will be available in pharmacies.. Covid-19 vaccines will be provided free of charge and the PCR tests will be ...

  Abu Dhabi / WAM Abu Dhabi National Oil Company (Adnoc) on Friday announced a second discovery of natural gas resources in the first exploration well in Abu Dhabi’s Offshore Block 2 Exploration Concession, operated by Eni. The discovery from a new deeper reservoir indicates between 1 – 1.5 trillion standard cubic feet (TSCF) of raw gas in place. This ...

  Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent congratulatory messages to kings, presidents and emirs of the Arab and Islamic countries on the occasion of the new Hijri year 1444. The UAE President wished them good health and happiness, further progress and prosperity for their peoples and dignity and glory for Arab ...

  Abu Dhabi / WAM Alpha Dhabi Holding has announced its financial results for the half-year ended June 30. The company reported net profit of AED7.9 billion, up significantly from the corresponding period last year of AED1.7 billion. Revenues for the group saw positive contributions and cross sector growth across its verticals year-on-year. On a half yearly basis, the group ...

DUBAI / WAM Dubai’s real estate market recorded a total of 8,897 sales transactions worth AED22.75 billion, the highest volume of sales transactions for the month of June in the past nine years, according to Mo’asher, Dubai’s official sales price and rental performance index. The month of June witnessed a 34 percent increase in terms of volume and a 24.8 ...

  DUBAI / WAM Commercial Bank International (CBI) has announced its second quarter 2022 financial results, with net profit increasing by 67% from AED20.6 million in Q1 2022 to AED34.4 million in Q2 2022. The operating profit increased by 82% from AED40.3 million to AED73.2 million, a bank statement said. Net operating income increased by 42%, from AED110.8 million to ...

  Dubai / WAM The Dubai Financial Market (DFM) has announced its consolidated financial results for the first half of the year ended June 30, posting a 63% increase in its net profit to AED63.4 million compared to AED38.8 million during the corresponding period of 2021. The net profit of the second quarter of 2022 increased by 134% to AED35.9 ...

  Abu Dhabi / WAM In line with the emirate’s commitment to adopting international best practices and making healthcare services further accessible to all community members, the Department of Health – Abu Dhabi (DoH), announced that Covid-19 vaccines and PCR tests will be available in pharmacies.. Covid-19 vaccines will be provided free of charge and the PCR tests will be ...