December, 2021

• 25 December

  Chip shortage is not ending anytime soon

  

    Bloomberg A Chinese proverb goes, “If you have guanxi (relations) with very important people, all your troubles will go away, but if you don’t have any guanxi with any VIP, your troubles will continue to haunt you.” Carmakers seem to be embracing the proverb as they continue to confront and struggle with the persistent chip shortage that’s expected to ...

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• 25 December

  Hyundai plans to offer six EVs by 2028 to boost share in India

  

    Bloomberg Hyundai Motor Co will expand its lineup to six battery-electric vehicles in India by 2028, as the South Korean carmaker tries to seize first-mover advantage in the growing market. The vehicles will comprise different styles, including SUV, and will cater to segments including the mass market and mass premium, the company said in a statement. Hyundai, which currently ...

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• 25 December

  Tesla seeks first US battery graphite with Syrah supply deal

  

    Bloomberg Tesla Inc has agreed to take the majority of battery-ready graphite from a production facility planned in Louisiana, as it races to secure supplies of the key material in a market dominated by China. Melbourne-based Syrah Resources Ltd will supply Elon Musk’s company with graphite anode material for an initial four years, with an option to buy additional ...

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• 25 December

  Apple shuts eight stores amid Covid surge

    Bloomberg Apple Inc temporarily shuttered at least eight retail stores in US and Canada over the past day as Covid-19 cases surged among the public and employees. Apple, based in Cupertino, California, typically shuts down a retail store when around 10% of staff members test positive for Covid-19. Such closures have become increasingly routine in recent weeks. Before the ...

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• 23 December

  Expo 2020 ‘committee’ affirms commitment to safely host world

  

    Dubai / WAM The Steering Committee of the College of Commissioner Generals of Expo 2020 Dubai has held its third event-time meeting, doubling down on its united commitment to continue hosting an exceptional and safe World Expo in a manner that is engaging, exciting and full of learning. The meeting of the committee, which represents Expo’s 192 participating nations, ...

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• 23 December

  Adnoc, Taqa launch $3.6b decarbonisation project

  

    Abu Dhabi / WAM Abu Dhabi National Oil Company (Adnoc) and Abu Dhabi National Energy Company (Taqa) announced on Wednesday a $3.6 billion (AED13.22 billion) strategic project to significantly decarbonise Adnoc’s offshore production operations, further strengthening their position in driving and leading sustainability efforts and supporting the UAE ‘Net-Zero by 2050 Strategic Initiative’. The innovative project will see the ...

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• 23 December

  UAE provides urgent aid to flood-hit people in Malaysia

    Abu Dhabi / WAM The UAE provided urgent humanitarian aid to those affected by the floods that swept different states of Malaysia. The move is in implementation of the directives of HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and the follow-up of HH Sheikh Hamdan ...

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• 23 December

  Abu Dhabi to host Global Energy Forum in January

  

    ABU DHABI / WAM Under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, the Atlantic Council will hold its sixth annual Global Energy Forum on January 15-16, 2022 in Abu Dhabi. The forum will be held as a part of Abu Dhabi ...

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• 23 December

  Mubadala, G42 to set up biopharma manufacturing campus in Abu Dhabi

  

    Abu Dhabi / WAM Mubadala Investment Company PJSC (Mubadala) and G42, the leading UAE-based AI and cloud computing company, signed an agreement to establish a world-class biopharmaceutical manufacturing campus (Biopharma Campus) in Abu Dhabi that will tap into global state-of-the-art vaccine and therapeutic products to strengthen regional supply chains, and drive forward the nation’s diversification and economic growth agenda. ...

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• 23 December

  Ajman Free Zone registers 349 new firms in Q3 2021

  

    AJMAN / WAM Ajman Free Zone (AFZ) registered 349 new companies in third quarter of 2021, which reflects the rising confidence of investors in AFZ’s services, facilities, and incentives. In its report, AFZ said that education sector was the fastest-growing sector in the free zone with 34 percent growth, followed by advanced technology and health sectors in the second ...

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