February, 2022

• 7 February

  Czechs raise rates to highest in EU in one last big hike

  

    Bloomberg The Czech central bank raised borrowing costs to the highest level in the European Union, (EU) delivering what’s probably its last large increase and outlining a relatively dovish outlook for the rest of the year. The koruna weakened. Policy makers raised the benchmark rate to 4.5% from 3.75%, as predicted by a majority of economists in a Bloomberg ...

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• 7 February

  Audi weighs green energy investment in China

  

    Bloomberg Audi is considering investments in clean energy for sites in China where the luxury car-maker is struggling to source enough power from renewable sources to churn out hundreds of thousands of vehicles each year. Volkswagen AG’s key earnings contributor has pledged to make its production network carbon-neutral by 2025, and has already moved plants in Belgium and Hungary ...

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• 7 February

  Sony dealing with PlayStation 5 shortage by making more PS4s

  

    Bloomberg Sony Group Corp will continue producing PlayStation 4 consoles throughout 2022 as it navigates disruptions to the global supply chain that limited output of its pricier PlayStation 5. The Japanese conglomerate, whose flagship PS5 console has been in scarce supply since its debut in November 2020, told assembly partners that it would continue making its earlier-generation machine through ...

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• 7 February

  Toshiba to double chip output capacity by March 2025

  

    Bloomberg Toshiba Corp will build a new 300-millimeter wafer fabrication plant for power semiconductors that will more than double its production capacity by March 2025, the company announced. Construction of the new facility in Ishikawa Prefecture in western Japan will take place in two phases, the company said. When the first phase is fully operational, Toshiba’s power semiconductor capacity ...

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• 7 February

  Ford moves to second in US EV sales

    Bloomberg Ford Motor Co moved to second place in US electric-vehicle sales, behind Tesla Inc. and overtaking General Motors Co., whose Chevrolet Bolt EV has been hobbled by a recall. Ford’s performance was buoyed by the Mustang Mach-E, which notched 27,140 sales in 2021, its first full year on the market, according to a statement. The automaker is tripling ...

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• 5 February

  Oil market getting stronger as prices power up to $93

  

    Bloomberg Oil has rocketed to a fresh seven-year high near $93 a barrel, and almost every indicator is pointing to the rally extending. The market’s structure is trading at its strongest level in years, indicating scarce supply. Diesel — the fuel that helps power the global economy — is also surging as a cold snap hits the US and ...

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• 5 February

  Ghitha posts net profit of AED59.7mn in 2021

  

    Abu Dhabi / WAM Ghitha Holding (formerly Zee Stores), a regional foodstuff trading and distribution company and a subsidiary of International Holding Company (IHC), on Friday announced its fourth quarter and annual financial results with a net profit of AED59.7 million in 2021. The company’s financial statements indicated a healthy cash flow, with a strong cash position attributed to ...

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• 5 February

  Dubai South attracts more than 700 companies in 2021

  

    Dubai / WAM Dubai South, the largest single-urban master development focusing on aviation, logistics and real estate, ended 2021 on a high note by recording several outstanding achievements across its different divisions, which includes attracting new clients and companies, the selling out of projects, signing top-level partnerships and launching unique projects. Master developer Dubai South Properties handed over almost ...

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• 5 February

  Aldar’s all apartments at Reflection II up for sale

  

    ABU DHABI / WAM Aldar Properties has announced that all 182 apartments at the second tower of its boutique Reflection project are now available for sale. Reflection II is located at the heart of Reem Island, overlooking Abu Dhabi’s mangroves, and with all units ready to move in during Q2 2022, sales will start from February 13. The release ...

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• 5 February

  Emirates signs deal to boost tourism to Spain

    Dubai / WAM Emirates, the world’s largest international airline, signed a memorandum of understanding (MoU) with Turespaña, Spanish Tourism Institute, to help boost trade and tourism to Spain. His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group welcomed María Reyes Maroto Illera, Spanish Minister of Industry, Trade and Tourism, at the Emirates ...

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