Bloomberg Europe’s inflation crisis is beginning to catch up with the automakers. Stellantis NV said consumers in Europe are slightly dialling back car purchases, joining Germany’s BMW AG in warning the region is on the backfoot due to surging costs for anything from energy to lending. Carmakers long defied economic headwinds thanks to robust demand for their priciest models, ...

Bloomberg Hon Hai Precision Industry Co. intends to keep expanding capacity in China despite persistent disruption from some of the world’s harshest Covid control measures. The company known as Foxconn intends to raise capital spending in 2023 and the biggest portion of that expenditure will go toward its already giant production base in China, Chairman Young Liu told analysts. Foxconn, ...

Abu Dhabi / WAM Adnoc Distribution on Friday reported that its Ebitda rises by 26% year-on-year to AED2.86 billion, and net profit up by 39% year-on-year to AED2.33 billion for the first nine months of 2022. For the third quarter, Ebitda rose by 18% year-on-year to AED868 million, while net profit increased by 45% year-on-year to AED767 million. With the ...

  HANOI / WAM Vietnam needs 147 trillion VND (over $5.91 billion) to upgrade seaports over the next two years, with an amount of 251 trillion VND by 2030. The figures were announced at a conference hosted by the Ministry of Transport (MoT). In his keynote speech, Deputy Minister of Transport Nguyen Xuan Sang said that after 20 years of ...

Abu Dhabi / WAM Aldar Properties has become the first real estate industry entity to join the Clean Energy Business Council (Cebc) as a partner member and will work closely with the organisation to enhance energy efficiency in the region. The Cebc is a non-profit member association that is working to accelerate the transition towards clean energy in the Mena ...

  Abu Dhabi / WAM Africa could capture as much as 10 percent of the global green hydrogen market, helping to create up to 3.7 million jobs and adding as much as $120 billion to the continent’s gross domestic product (GDP), according to a landmark report issued jointly by Masdar and its Abu Dhabi Sustainability Week (ADSW) platform on the ...

  Abu Dhabi / WAM The Ministry of Industry and Advanced Technology (MoIAT) has signed a memorandum of understanding (MoU) with Burjeel Holdings to provide high-quality healthcare services to the ministry’s employees and their families. Through the MoU, both entities have agreed to consolidate the areas of cooperation that exist between them. According to the MoU, the group will issue ...

  Abu Dhabi / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, launched, on Friday, the UAE Tourism Strategy 2031, which comes under the ‘Projects of the 50’ as one of the biggest projects of the next years. The strategy aims to strengthen the position of the ...

  Abu Dhabi / WAM His Highness Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Member of the Executive Council of Abu Dhabi, has inaugurated the second edition of the Abu Dhabi Moments initiative. Organised by the Abu Dhabi Department of Community Development, in cooperation with various entities in the emirate, Abu Dhabi Moments is an initiative that includes community ...

  Dubai / WAM The Ministry of Human Resources and Emiratisation (MoHRE) reiterated on Friday its keenness to support and empower private sector companies in the UAE and help them achieve their Emiratisation goals of 2022 with 50 days to go for the deadline before fines are imposed on non-compliant companies. Companies with 50 or more employees are targeted to ...