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  Bloomberg Tesla Inc has been going through “supply chain hell,” but Elon Musk believes the electric-car maker stands a chance of emerging from it in the second half of the year. The chief executive officer tempered his optimism while discussing Tesla’s better-than-expected earnings, emphasising how challenging it’s been to secure parts and materials. Tesla sold roughly 75% of its ...

  Bloomberg AutoNation Inc shrugged off a sales decline to post record profit in the second quarter as US prices for new vehicles soar. The nation’s largest auto dealer chain said earnings were $6.48 a share during the period, up 34% from a year earlier and beating analyst estimates. Revenue fell 2% to $6.9 billion and just missed the consensus ...

  Abu Dhabi / WAM The Emirates News Agency (WAM) has signed a strategic partnership agreement with the Mohamed bin Zayed University of Artificial Intelligence (MBZUAI), with the aim of enhancing joint cooperation between the two sides in the media and artificial intelligence sectors through the exchange of knowledge, experiences and training. The agreement was signed by Mohammed Jalal Al ...

  Dubai / WAM Dubai Electricity and Water Authority (Dewa) has announced it won three Global Good Governance (3G) Awards. These awards are presented annually by Cambridge IFA in the UK and major international companies compete to win them. Dewa won the awards in “Leadership in Good Governance,” “Excellence in Compliance and Conformance Activities,” and “Commitment and Promotion of Good ...

  Abu Dhabi / WAM Abdullah bin Touq Al Marri, Minister of Economy, has said the speech of President His Highness Sheikh Mohamed bin Zayed Al Nahyan has outlined the strategic direction for the economic development in the UAE by promoting openness to the world and consolidating the principles of cooperation based on respecting common interests, achieving mutual benefit, and ...

  Bloomberg Russia began sending natural gas to Europe through the Nord Stream pipeline system after a pause, bringing relief to a continent whose economy is starting to wobble under the strain of reduced supplies. Shipments returned to 40% of capacity, their level before flows were halted for 10 days of planned maintenance, data from the pipeline operator showed. While ...

Bloomberg Mario Draghi resigned as Italy’s prime minister, throwing the country into turmoil and putting it on course for snap elections as soon as early October. The former European Central Bank chief delivered his decision to President Sergio Mattarella Thursday morning. The government will continue in a caretaker role to handle ongoing business but its influence will be minimal. Mattarella, ...

  Dubai / WAM Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (Dewa), announced that Dewa has plans to invest AED40 billion on capital expenditure in the next five years including the expansion of renewable and clean energy projects. He noted that Dewa plans to invest about AED16 billion to strengthen and expand electricity and ...

DUBAI / WAM The Dubai Chamber members’ exports and re-exports surged to AED129.4 billion during H1 2022, marking a 17.8 percent increase compared to the same period last year. The number of certificates of origin issued also rose 8.9 percent year-on-year to exceed 357,000. The growth momentum reflects the Chamber’s ongoing efforts to expand and improve its services that are ...

  PARIS / WAM The Office of the UAE Special Envoy for Climate Change and the Government of France have signed a memorandum of understanding (MoU) to maximise the social and economic benefits of climate action and raise ambition for the implementation of the Paris Agreement, as well as support for the 28th United Nations Climate Change Conference of the ...