Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said that Armed Forces unification was a historic achievement that underscored the perseverance of the Founding Fathers and their determination to advance and establish the Union’s foundations. In a statement to the Nation Shield, the official journal ...

Abu Dhabi / WAM The UAE-Caribbean Renewable Energy Fund (UAE-CREF), the largest renewable energy investment of its type in the region, which is fully financed by Abu Dhabi Fund for Development (ADFD), announced the signing of an engineering, procurement and construction (EPC) contract to build a hurricane-resistant clean energy project worth $50 million in Dominica. Masdar, one of the world’s ...

Bloomberg About 80% of US coal plants are now more expensive to keep running than to swap out for new wind and solar capacity, according to a report from Energy Innovation, a non-partisan climate and energy think tank. While renewables cost more than fossil energy for much of the last century, prices for new wind and solar have dropped so ...

If the Trump presidency and Brexit convinced the European Union to start acting more like a sovereign power and less like a supermarket, Covid-19 has shown there’s a depressingly long journey ahead. First there was fighting over protective medical equipment. Then the bungled start to its vaccine rollout. Now the scale of the bloc’s dependence on the US and Asia ...

When Covid-19 first plunged Europe into lockdown last spring, there were plausible predictions of a tidal wave of corporate insolvencies. That hasn’t happened, at least not yet. The number of companies declaring bankruptcy declined by about a fifth in the euro area last year, even as economic output contracted more than 6%. Firms were saved by overwhelming government support, including ...

It hasn’t been an edifying few days for Hong Kong. After a domestic worker from the Philippines was found late last week to have contracted a more infectious strain of Covid-19 locally, all 370,000 foreign women working in the territory’s homes were ordered to take coronavirus tests, many queueing for hours over the weekend to do so. They faced the ...

In the debate over President Joe Biden’s infrastructure and climate bill, it was perhaps inevitable that some policy makers would object to including anything other than traditional infrastructure such as roads and bridges. More surprising is the “new pundit view,” which casts doubt about spending in precisely that narrow category. This is a perspective based on very imperfect data. Especially ...

Bloomberg Nestle SA is introducing a plant-based milk brand to compete with Danone’s Alpro and Oatly AB in the growing market for dairy substitutes. The pea-based milk alternative, called Wunda, will be available in France, the Netherlands and Portugal in the coming weeks, the Swiss maker of Nespresso coffee and Purina pet food said in a statement on Wednesday. A ...

Bloomberg Bombardier Inc is selling its stake in Alstom SA in a deal that would generate proceeds of more than $630 million at current market prices. The offering has gathered enough investor demand to cover the sale, according to terms seen by Bloomberg. Price guidance will follow and such accelerated offerings typically come at a discount. After completion of the ...

Bloomberg Tesco Plc has pledged to boost sales of healthier food and drink across its entire retail business in a bid to stave off further pressure from investors over concerns its products cause obesity. The company aims to include its central European operations and wholesaler Booker Group Ltd in a pledge to increase the share of healthy product sales, Tesco ...