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Bloomberg The UK Treasury and Bank of England launched a £40 billion ($46 billion) fund to provide energy traders liquidity to deal with massive margin calls, joining a list of European states taking dramatic action to prevent the energy crisis becoming a “Lehman” moment. The so-called Energy Markets Financing Scheme will provide stability for energy and financial markets, and help ...

  Bloomberg The Biden administration published its strategy for subsidising US output of semiconductors, with the first phase of funding potentially being rolled out next spring, Commerce Secretary Gina Raimondo said. Smaller, simpler projects involving expansion of existing facilities will be the first to receive funds, followed by more complex projects for so-called leading-edge chips, which the US currently doesn’t ...

  Abu Dhabi / WAM The Abu Dhabi National Exhibitions Company (Adnec) has rebranded and unveiled a new corporate identity with the aim of increasing the visibility of the group’s six main business sectors: Venues, events, hotels, food and beverage, services and tourism. Strengthening its position as a leading events and leisure tourism player in Abu Dhabi, Adnec group maximises ...

  Abu Dhabi / WAM Khalifa Fund for Enterprise Development has officially announced the launch of the E-Commerce Acceleration Programme, a training programme that focuses on helping entrepreneurs with their e-commerce capabilities and capacity. The programme strives to help deliver real results that impact the entrepreneur’s bottom line, generate profit, expand their brand’s exposure and improve customer engagement. The programme ...

Abu Dhabi / WAM Saqr Ghobash, Speaker of the Federal National Council (FNC), discussed with Tomasz Grodzki, Marshal of the Senate of Poland, the importance of enhancing bilateral cooperation and coordination on issues of mutual concern and ways of supporting joint parliamentary diplomacy, through mutual visits. During a phone call, Ghobash said that the bilateral ties between the UAE and ...

  Sharjah / WAM Khazna Data Centres and Beeah Digital have announced forming a joint venture that will bring to Sharjah its first Tier 3 data centre. In response, the joint venture is advancing the digital infrastructure in Sharjah, starting with an industry-standard Tier 3 data centre. The data centre will be equipped with high-tech security, fire and environmental control ...

Bloomberg President Vladimir Putin said Russia will emerge stronger from his invasion of Ukraine as he lashed out at US and European “sanctions fever” in response to the war. “I’m sure that we’ve lost nothing and won’t lose anything,” Putin said at the Eastern Economic Forum in Vladivistok on Wednesday, after he was asked about the conflict in Ukraine by ...

  ABU DHABI / WAM Mubadala Petroleum, the Abu Dhabi-headquartered international energy company, has unveiled its new brand name: Mubadala Energy. The new brand reflects a fresh strategic direction that will see Mubadala Energy build on its contribution to the energy transition by expanding its gas-weighted portfolio in areas such as LNG while exploring new energy sectors including blue hydrogen ...

  Abu Dhabi / WAM Kizad, part of AD Ports group’s Economic Cities and Free Zones, on Tuesday announced the signing of a lease agreement with NWTN to establish an electric vehicle (EV) assembly facility in Abu Dhabi to serve the growing demand for sustainable transport options. Founded in 2016, green mobility technology company NWTN has its headquarters in the ...

  ABU DHABI / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, in a phone call with Annalena Baerbock, German Minister for Foreign Affairs, discussed the strategic relations between the two countries and joint cooperation in all fields. The two sides also reviewed several issues of common interest, including economic integration and ...