March, 2021

• 6 March

  Volvo to go fully electric by 2030

  

  Bloomberg Volvo Cars set an ambitious goal to only sell battery cars by 2030, accelerating its plans after sales of electric vehicles surged. The Chinese-owned Swedish brand is rolling out a new lineup of electric cars and will unveil its second battery-only model later. Going one step further than recent rivals’ decisions on EVs, Volvo’s electric vehicles will be available ...

  Read More »
• 6 March

  Huawei plans to make EVs after US sanctions

  

  Bloomberg Huawei Technologies Co. is planning to manufacture electric cars under its own brand, Reuters reported, as it shifts away from a consumer electronics business battered by US sanctions. The Chinese tech giant could roll out some models this year, Reuters said. Huawei is in talks with Chongqing Changan Automobile Co. and other carmakers to use their plants to manufacture ...

  Read More »
• 6 March

  Samsung details plans for $17 billion chip facility in US

  

  Bloomberg Samsung Electronics Co. revealed additional details about its plans to build a cutting-edge semiconductor facility in the US in a filing with the Texas government, making the disclosure as the Biden administration vows to make the security of the US chip supply a national priority. The South Korean company plans to invest about $17 billion in its Project Silicon ...

  Read More »
• 6 March

  Internet shutdowns plunge millions into ‘digital darkness’

  

  Bloomberg India led the world last year in internet shutdowns that affected hundreds of millions of people, as governments cracked down on political rivals and tried to suppress protests. At least 155 internet shutdowns in 2020 disrupted access for people in 29 countries, according to a report from digital rights group Access Now. That included 28 full internet blackouts that ...

  Read More »
• 4 March

  ‘Together We Are Good’ top recipient of private donations

  

  ABU DHABI / WAM World Business Times has recognised the ‘Together We Are Good’ programme, launched by the Authority of Social Contribution – Ma’an, as a leading initiative in bringing the community together and embodies the principles of human fraternity. The programme positively impacted more than 400,000 beneficiaries in Abu Dhabi, according to a report published on Wednesday by the ...

  Read More »
• 4 March

  Adnoc removes destination restrictions on crude grades

  

  ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) on Wednesday announced that it will remove destination restrictions on its Murban, Upper Zakum, Das and Umm Lulu crude grades, starting from the first traded contract month of the new ICE Murban Crude Oil Futures Contract. The company also confirmed that Adnoc Onshore, the producer of Murban Crude Oil, ...

  Read More »
• 4 March

  AED29bn in cash dividends proposed by 38-listed firms

  

  ABU DHABI / WAM Despite a slower and only marginal improvement in business conditions around the world, to the tune of AED29 billion in cash dividends for 2020 have been proposed to date by 38 companies listed in the UAE capital markets, according to data released by the listed firms. Banks are the largest distributors of profits, with eight Emirati ...

  Read More »
• 4 March

  Mohamed restructures board of Abu Dhabi Housing Authority

  ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces, and Chairman of the Abu Dhabi Executive Council, has issued a resolution to restructure the board of directors of Abu Dhabi Housing Authority, chaired by Falah Mohammad Al Ahbabi. The board members include deputy-chair Saif ...

  Read More »
• 4 March

  Crude climbs ahead of critical Opec+ meeting on supply curbs

  

  Bloomberg Oil climbed ahead of a crucial Opec+ meeting, as the alliance was expected to agree a coordinated increase in output as the pandemic’s impact on the market recedes. Brent futures rose 1.5% after three consecutive days of losses for the first time since December. The widespread view among the Organization of Petroleum Exporting Countries (Opec) and its allies is ...

  Read More »
• 4 March

  Tabreed, IFC to set up district energy investment platform

  

  ABU DHABI / WAM The National Central Cooling Company (Tabreed) and the International Finance Corporation (IFC), a member of the World Bank Group, are planning to establish a district energy investment platform in Singapore. The platform will invest in district cooling, trigeneration and cooling as a service offering with primary focus on India followed by other South East Asian countries. ...

  Read More »