Bloomberg Toshiba Corp will build a new 300-millimeter wafer fabrication plant for power semiconductors that will more than double its production capacity by March 2025, the company announced. Construction of the new facility in Ishikawa Prefecture in western Japan will take place in two phases, the company said. When the first phase is fully operational, Toshiba’s power semiconductor capacity ...

  Bloomberg Ford Motor Co moved to second place in US electric-vehicle sales, behind Tesla Inc. and overtaking General Motors Co., whose Chevrolet Bolt EV has been hobbled by a recall. Ford’s performance was buoyed by the Mustang Mach-E, which notched 27,140 sales in 2021, its first full year on the market, according to a statement. The automaker is tripling ...

  Bloomberg Oil has rocketed to a fresh seven-year high near $93 a barrel, and almost every indicator is pointing to the rally extending. The market’s structure is trading at its strongest level in years, indicating scarce supply. Diesel — the fuel that helps power the global economy — is also surging as a cold snap hits the US and ...

  Abu Dhabi / WAM Ghitha Holding (formerly Zee Stores), a regional foodstuff trading and distribution company and a subsidiary of International Holding Company (IHC), on Friday announced its fourth quarter and annual financial results with a net profit of AED59.7 million in 2021. The company’s financial statements indicated a healthy cash flow, with a strong cash position attributed to ...

  Dubai / WAM Dubai South, the largest single-urban master development focusing on aviation, logistics and real estate, ended 2021 on a high note by recording several outstanding achievements across its different divisions, which includes attracting new clients and companies, the selling out of projects, signing top-level partnerships and launching unique projects. Master developer Dubai South Properties handed over almost ...

  ABU DHABI / WAM Aldar Properties has announced that all 182 apartments at the second tower of its boutique Reflection project are now available for sale. Reflection II is located at the heart of Reem Island, overlooking Abu Dhabi’s mangroves, and with all units ready to move in during Q2 2022, sales will start from February 13. The release ...

  Dubai / WAM Emirates, the world’s largest international airline, signed a memorandum of understanding (MoU) with Turespaña, Spanish Tourism Institute, to help boost trade and tourism to Spain. His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group welcomed María Reyes Maroto Illera, Spanish Minister of Industry, Trade and Tourism, at the Emirates ...

  ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan has affirmed that the UAE’s pioneering environmental efforts reflect the country’s national and ethical commitment as outlined in its vision on sustainable development and climate change confrontation. This comes in line with the UAE’s “Principles of the 50”, and the country’s development strategy and the vision ...

  Abu Dhabi / WAM The Environment Agency – Abu Dhabi (EAD), in cooperation with the Ministry of Energy and Infrastructure, is conducting a hydrogeological mapping project for the UAE, a unique project at the level of the Arabian Gulf region. The project aims to collect, classify, and analyse all available data on ground and surface water, which has been ...

  ABU DHABI / WAM Saqr Ghobash, Speaker of the Federal National Council (FNC), has received a letter from Eva-Maria Liimets, the Minister of Foreign Affairs of the Republic of Estonia, expressing her strong condemnation and rejection of Houthi terrorist attacks on civil areas and facilities in the UAE. Liimets voiced her country’s full solidarity with the UAE. She also ...