Dubai / WAM Dubai Electricity and Water Authority (Dewa) has successfully completed over seven million smart transactions between January and September 2020. This achievement helped reduce over 24,000 tonnes of carbon emissions. This is equal to planting over 27,000 trees over a distance equal to 52 football pitches, and achieving savings of over AED285 million. Saeed Mohammed Al Tayer, MD ...

Abu Dhabi / WAM Masdar, a subsidiary of Mubadala Investment Company and a leading renewable energy companies, announced on Wednesday the financial close of the Nur Navoi Solar Project – Uzbekistan’s first successfully-financed independent power producer (IPP) solar project. Loan and guarantee agreements to finance the 100-megawatt photovoltaic plant were signed in a virtual ceremony with representatives from Masdar, Uzbekistan’s ...

Sharjah / WAM The Big Heart Foundation (TBHF), a Sharjah-based global humanitarian organisation dedicated to helping refugees and people in need worldwide, has announced the building of an AED2 million sustainable village in Niger in West Africa, which will be named after the late Sheikh Khalid bin Sultan Al Qasimi. To be implemented in partnership with Sharjah Charity International, the ...

ABU DHABI / WAM Abu Dhabi Securities Exchange (ADX) announced that Zee Stores PJSC, has listed its shares on ADX’s Second Market under the ticker symbol ZS, and trading begins on the shares on Wednesday. The company’s nominal value of share capital is AED 100 million, with each share having a nominal value of AED 1. This is the third listing ...

Dubai / WAM Dubai Economy signed a memorandum of understanding (MoU) with the Emirates Payment Services to enable payments relating to commercial licences through the Empay smart application, the world’s first contactless instant credit lifestyle payment ecosystem. The agreement will enable customers of Dubai Economy to have an instant credit facility and complete licencing transactions within five minutes. Users registering ...

Bloomberg India has been ordered to return over $1.2 billion to Cairn Energy Plc after Prime Minister Narendra Modi’s administration lost arbitration proceedings in a tax dispute, its second defeat since September over such levies. An international arbitration tribunal ruled that India’s tax claim was not valid and asked the government to repay the funds, along with interest, to Cairn. ...

Bloomberg China’s pipeline network behemoth inked a $6.3 billion asset purchase in the latest step to bolster the nation’s energy security and break down market barriers. Kunlun shares surged on the news. Kunlun Energy will sell a 60% stake in a Beijing natural gas pipeline and a 75% stake in its Dalian LNG company for 40.9 billion yuan to the ...

Does the airline industry have a rubber room? That was the name given to the place where teachers that New York City wanted to fire gathered each day; they collected a paycheck for doing absolutely nothing. The airlines are set to collect $15 billion as part of the new $900 billion Covid-19 relief package. The money is being described as ...

Deciding who gets the Covid-19 vaccine — and who has to wait — will be no easy task. Essentially, authorities around the world are building myriad algorithms to assess who is important, who is most at risk, and how to balance those considerations. I have one piece of advice: Be as transparent as possible, to keep the discussion about priorities ...

It seems like everyone’s launching a special purpose acquisition company these days, but you could have bet on Softbank Group Corp maestro Masayoshi Son and his lieutenant Rajeev Misra finding a way of putting an eyebrow-raising spin on the blank-check phenomenon. They haven’t disappointed. Their SPAC, SVF Investment Corp, plans to raise at least $525 million from investors in an ...