Bloomberg Volkswagen AG’s Audi is expanding its partnership with Chinese manufacturer FAW as the German premium brand seeks to build more battery-powered cars geared to customers in its largest market. Audi and FAW signed a memorandum of understanding to start a company that will produce electric cars for the Chinese market from 2024, Audi said in a statement. The new ...

Bloomberg Microsoft Corp. joined the growing ranks of tech giants allowing some of its employees to work from home permanently if they wish. The software maker has instituted a “hybrid workplace” to give employees greater flexibility once its offices in the US reopen, the company said in a blog post. Microsoft said it’s letting any of its employees work from ...

Bloomberg Sales of electric vehicles in Europe are growing at such a pace that the continent looks increasingly likely to outpace China in the near future. That’s one of the findings of a report by London-based automotive research firm Jato Dynamics. However, it found that Europe and the US still have a few things to learn from China, the world’s ...

Dubai / WAM Abdullah bin Touq Al Marri, Minister of Economy, has held a virtual meeting with Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF) with the aim of discussing an integrated partnership between the UAE and IMF to develop and analyse economic policies. Moreover, the partnership focuses on drawing comparisons between macroeconomic models; formulating scenarios and forecasting ...

Abu Dhabi / WAM Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and Group CEO of the Abu Dhabi National Oil Company (Adnoc), on Wednesday shared insights on energy market dynamics, the energy transition, and Adnoc’s future strategy during a virtual session of the Energy Intelligence Forum. Speaking with Alex Schindelar, President of Energy Intelligence, during ...

Abu Dhabi / WAM payit digital wallet, powered by First Abu Dhabi Bank (FAB) launched “Digital Marketplace”, which allows small and medium businesses to list and sell their products and services on the platform conveniently and make them accessible to a growing base of payit customers. The new platform will include a range of products and services, such as groceries, ...

Dubai / WAM Countries in the GCC are witnessing accelerated cloud adoption, aided by ongoing investment by cloud providers and the continued need for remote working arrangements, the International Data Corporation (IDC) revealed during a Dubai Outsource City event. The GCC public cloud market is expected to more than double in value by 2024, growing from $956 million this year ...

Abu Dhabi / WAM The latest data issued by the Organisation of the Petroleum Exporting Countries (Opec), has shown that the UAE was one of the most committed producing countries to the deal to cut oil output, aimed at rebalancing the world oil market. According to reports issued by Opec, the UAE’s average production during the third quarter of 2020 ...

Bloomberg Oil rises amid a weaker dollar and signs of improving demand in China and India. Crude futures gained as much as 2.3% in New York as the Bloomberg Dollar Spot Index weakened as much as 0.3%, raising the appeal for commodities priced in the currency. Meanwhile, refinery activity in Asia is signaling a bright spot for demand recovery. One ...

Abu Dhabi / WAM The UAE Space Agency (UAESA) was amongst the first signatories of Nasa’s Artemis Accords at the 71st International Astronautical Congress (IAC). In May 2020, Nasa, the American Space Agency, formally announced the Artemis Accords, based on a shared vision for principles, grounded in the United Nations’ Outer Space Treaty of 1967, to create a safe and ...