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Abu Dhabi / WAM According to statistics from Statistics Centre-Abu Dhabi (SCAD), in 2018, Abu Dhabi achieved progress in terms of its electricity production from solar energy, increasing from 17,986 megawatt-hours in 2011 to 249,695 megawatt-hours in 2018. The report also pointed out that 88.4 percent of the electricity produced from solar energy was transferred through the emirate’s electricity distribution ...
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November, 2019
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23 November
US starts granting, denying some Huawei supply licenses
Bloomberg The US Commerce Department has started approving some suppliers’ applications for licenses to do business with China’s Huawei Technologies Co, partially reopening access to one of the biggest buyers of US technology. “We’ve had 290-something requests for specific licenses,†Commerce Secretary Wilbur Ross said in an interview with Fox Business Network. “We’ve now been starting to send out the ...
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23 November
Tesla to deliver made-in-China Model 3 e-cars before late Jan
Bloomberg Tesla Inc said it’s planning to start delivering made-in-China Model 3 cars before late January, another sign that the company is nearing mass production in the world’s largest auto market. “We are making an effort to gradually deliver before the Spring Festival to let our customers drive our China-built Model 3 sedans back home for the holidays,†Tesla said ...
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23 November
Trump ‘looking’ at exemption for Apple on China’s tariffs
Bloomberg US President Donald Trump, touring an Apple Inc assembly plant in Texas, said he’s “looking at†exempting the iPhone maker from tariffs on goods imported from China. Trump made the remarks alongside Apple Chief Executive Officer Tim Cook at a Flex Inc facility in Austin, Texas, that is manufacturing Apple’s new Mac Pro desktop computer. Trump repeated previous comments ...
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23 November
US okays $1bn sale of naval guns to India
Bloomberg The US government has approved the sale of naval guns worth $1 billion to India in the biggest defense deal between the two countries in four years. Putting the US among the top three global arms suppliers to India, the State Department on November 19 of the possible foreign military sale of as many as 13 naval guns made ...
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23 November
Amazon sues over lose of $10bn JEDI cloud contract
Bloomberg Amazon.com Inc filed a lawsuit challenging the Defense Department’s choice of rival Microsoft Corp for a Pentagon cloud-computing contract worth as much as $10 billion. The lawsuit, which was filed under seal in the US Court of Federal Claims in Washington, marks Amazon’s most aggressive push to defend its competitive edge in the lucrative and cutthroat world of federal ...
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23 November
Audi China in talks to buy BYD batteries
Bloomberg Audi AG said it is in talks to buy batteries from China’s BYD Co for its locally made cars, a move that would break the luxury automaker’s reliance on a single supplier in the country as it rolls out new electrified models. “We are in talks with BYD, but I cannot tell you details,†Gaby-Luise Wuest, Audi’s recently appointed ...
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23 November
Deutsche Bank sues funds over $1.6bn in Madoff claims
Bloomberg Deutsche Bank accused a pair of offshore funds of failing to follow through on a deal to sell the German lender $1.6 billion in claims against Bernard Madoff’s bankrupt investment advisory business. Kingate Global Fund Ltd and Kingate Euro Fund Ltd, which funnelled client money to Madoff’s firm for years before his Ponzi scheme collapsed in 2008, have “sellers’ ...
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23 November
Mexico central bank defends autonomy
Bloomberg Mexico’s central bank called for the preservation of its independence amid economist concerns that President Andres Manuel Lopez Obrador may encroach on its independence, as he has with other autonomous institutions. One by one, the four heads of Banco de Mexico over the past three-and-a-half decades took the podium to praise the benefits of autonomy and the importance of ...
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23 November
‘China still has room for monetary policy’
Bloomberg China still has room for conventional monetary expansion, but its ability to deal successfully with a crisis depends on whether monetary policy can work together with fiscal and structural reform policies, China’s former central bank head Zhou Xiaochuan said. “We can still try to avoid getting very soon into the negative interest rates area, if we can successfully manage ...
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