March, 2023

• 12 March

  Japan Air ends $48 promo fares after demand crashes website

  

  BLOOMBERG Japan Airlines Co. ended a campaign to sell steeply discounted tickets for domestic flights after demand overwhelmed the carrier’s website. “In light of the fact that there is no prospect of restoration at this time” and the impact on other customers, Japan Airlines said it would cancel the promotional sale of flights and April and May, as well as ...

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• 12 March

  UK to spend $24 billion on carbon capture projects

  

  BLOOMBERG Chancellor of the Exchequer Jeremy Hunt will announce $24 billion for domestic carbon capture projects over the next 20 years in his budget next week, as the UK seeks to hit its net zero targets and spur green jobs. “It’s time for a clean energy reset,” Hunt said in an e-mailed statement, which also trailed plans to boost Britain’s ...

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• 12 March

  French nuclear revival hits trouble as new reactor defects found

  

  BLOOMBERG France’s troubled nuclear industry is supposed to be in revival, but the discovery of further defects at some reactors this week is stoking fears that the year ahead could be just as difficult as the last. Electricite de France SA’s fleet of 56 atomic power plants has long been the backbone of Europe’s energy system, but in 2022 it ...

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• 12 March

  Cloud computing is pricy. These startups want to help

  

  BLOOMBERG Cloud computing is expensive. As the tech economy stumbles and businesses pare back, growth at the largest cloud-computing companies has slowed. That’s created an opportunity for startups that want to help trim those bills. Vantage, a New York City-based company has raised $21 million from investors. The haul follows two larger investment rounds in recent months by competing companies ...

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• 12 March

  Tesla under investigation after Model Y steering wheels fall off

  

  BLOOMBERG Tesla Inc. is under investigation by US regulators over complaints the steering wheel can fall off certain new Model Y vehicles while they’re in use. The National Highway Traffic Safety Administration (NSTSA) said it’s aware of two incidents in which the wheel detached from the steering column while drivers were operating the 2023 model year SUVs. The preliminary evaluation ...

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• 12 March

  New powertrains to reduce hybrid costs by 30%: Nissan

  

  BLOOMBERG Nissan Motor Co. is developing new modular powertrains that will help streamline production and drive manufacturing costs for hybrid cars down by as much as 30%. By enhancing the common parts that underpin a vehicle, the Yokohama-based automaker expects to be able to lower the cost of its hybrid cars to the same level as gasoline-powered cars by 2026, ...

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• 11 March

  Masdar inks deal with Ivory Coast to explore development of solar plant

  

  ABU DHABI / WAM Masdar has announced the signing of an agreement with the Ministry of Mining, Petroleum and Energy for the Republic of Côte d’Ivoire to explore the development of a solar power plant with a capacity of up to 70 MW. The agreement was signed in the presence of Tiémoko Meyliet Koné, Vice President of the Republic of ...

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• 11 March

  UAE airlifts 14 tonnes of relief supplies to Ukraine

  

  ABU DHABI / WAM The UAE on Friday sent an aircraft carrying 14 tonnes of relief aid, including blankets and personal care supplies, and LED bulbs to help the people of Ukraine live through the harsh winter conditions. These supplies are part of the UAE’s ongoing humanitarian assistance aimed at alleviating the suffering of the Ukrainian people amid the crisis. ...

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• 11 March

  Abu Dhabi’s IHC net profit hits record AED32.6bn in 2022

  

  ABU DHABI / GULF TIME International Holding Company (IHC), the global diversified Abu Dhabi-based conglomerate, announced on Friday its audited financial results for the full year of 2022 resulting a AED 32.6 billion net profit, the company’s best profit record to date. The fourth quarter of 2022 saw a significant increase in net profit reaching AED 8.3 billion compared to ...

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• 11 March

  COP28 chief, UN envoy announce pact to tackle climate change

  

  NEW YORK / WAM Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and COP28 UAE President-Designate, and Michael R Bloomberg, UN Secretary-General’s Special Envoy on Climate Ambition and Solutions and founder of Bloomberg L and Bloomberg Philanthropies, announced a new partnership to bolster meaningful climate action from cities, businesses, financial institutions, and civil society ahead of ...

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