December, 2023

• 26 December

  EU, UK push back tariffs on EV trade

  

  BLOOMBERG The European Union (EU) and the UK approved a three-year postponement of tariffs on electric vehicles, giving carmakers more time to make necessary changes to comply with local content requirements under a bilateral trade deal. The tariffs that were set to kick in from next year would have charged a 10% duty on vehicles and batteries traded between the ...

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• 26 December

  Thailand budgets $970 million to renew electric vehicle hub push

  

  BLOOMBERG Thailand will allocate 34 billion baht ($970 million) through to 2027 to fund its ambition of becoming a major production hub for electric vehicles, renewing a flagship incentive program in the Southeast Asian nation. Foreign EV makers will be eligible to receive up to 40% cuts on import duties and a reduced excise tax rate of 2% for their ...

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• 26 December

  China’s Nio unveils executive EV to take on Panamera

  

  BLOOMBERG Chinese electric carmaker Nio Inc unveiled a flagship sedan at its annual customer event, with the vehicle set to take on Porsche AG’s Panamera series and Mercedes-Benz Group AG’s luxury S range. The four-seater executive sedan dubbed ET9 is expected to start delivery in the first quarter of 2025, with an estimated starting price at around 800,000 yuan ($112,000). ...

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• 26 December

  Party City, its bankrupt balloon unit Anagram near settlement

  

  BLOOMBERG Party City Holdco Inc’s bankrupt balloon-manufacturing affiliate, Anagram Holdings, is close to striking an agreement with the retail chain and won court permission to sell the unit to lenders. Anagram lawyer Nicholas Baker said during a court hearing that the firm is optimistic it will be able to finalise the settlement with its parent company in the coming days. ...

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• 26 December

  General Mills cuts outlook as shoppers hold back

  

  BLOOMBERG General Mills Inc cut its organic-sales-growth outlook after slower-than-expected volume recovery and cautious consumer behaviour lowered expectations for the full year. “We’re seeing consumers continue to display stronger-than-anticipated value-seeking behaviors across our key markets, and this dynamic is delaying volume recovery in our categories,” Chief Executive Officer Jeff Harmening said in prepared remarks. The company has also faced stiffer ...

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• 26 December

  Boeing secures first 787 delivery to China

  

  BLOOMBERG China has signed off on the first direct delivery of a Boeing Co 787 jet in four years, an indication strained US-China trade relations may be easing and a potential precursor to the more significant resumption of 737 Max deliveries. Juneyao Airlines Co, one of China’s largest privately owned carriers, took delivery of its newest 787 Dreamliner, in a ...

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• 26 December

  Transition Investment Lab joins Stern at NYU Abu Dhabi

  

  ABU DHABI / WAM The Transition Investment Lab (TIL) has officially joined Stern at NYU Abu Dhabi, further strengthening the one-year full-time MBA Programme’s offerings and expertise in the field of impact investing and global finance related to sustainability. TIL is a centre of excellence and knowledge hub for impact finance and sustainability research, with special reference to sovereign wealth ...

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• 26 December

  EAD completes 1st Atmospheric Research tour in Arabian Gulf

  

  ABU DHABI / WAM The Environment Agency – Abu Dhabi (EAD) announced that it has successfully completed the first ever Atmospheric Research Expedition in the Arabian Gulf onboard its state-of-the-art marine research vessel — Jaywun. The agency was the first organisation in the world to conduct atmospheric research from Spain to Abu Dhabi, which covered 25 countries and eight seas ...

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• 26 December

  Under the patronage of the Presidential Court Majalis Abu Dhabi hosts group wedding at Majlis Al Markhaniya in Al Ain

  

  ABU DHABI / AD MEDIA OFFICE Under the patronage of the Presidential Court, Majalis Abu Dhabi has hosted a group wedding at Majlis Al Markhaniya. The ceremony, which took place as part of a series of group weddings, aimed to enhance family stability and community cohesion in Abu Dhabi. The group wedding participants included People of Determination, as part of Zayed ...

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• 26 December

  SEC agrees on new health insurance terms

  

  SHARJAH / WAM HH Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince, Deputy Ruler of Sharjah, and Chairman of the Sharjah Executive Council (SEC), chaired, on Tuesday, the meeting of the SEC, in the presence of HH Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah and Vice Chairman of the Sharjah Executive Council, held ...

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