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Bloomberg AP Moller-Maersk A/S has launched a $1.6 billion share buyback program, as the world’s biggest container shipping company says the Covid crisis has so far dented its business less than feared. Copenhagen-based Maersk, which raised its guidance for a second time since October, reported a 39% increase in Ebitda to $2.3 billion in the third quarter. Profit by that ...

ABU DHABI / WAM Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Group CEO of the Abu Dhabi National Oil Company (Adnoc) has highlighted investment and partnership opportunities in the UAE during a panel session at the Bloomberg New Economy Forum. Speaking during the virtual session titled ‘The Rise of Regional Champions: The Search for ...

DUBAI / WAM Mohammed Bin Rashid Housing Establishment (MBRHE) has started its logistical preparations for launching the 4th edition of The Housing, Building Materials, Decoration & Engineering Consultancy Exhibition, Decobuild 2020, with the precautionary and preventive measures in place to ensure the safety of both exhibitors and visitors. The 4th edition will be held at Elbait Metwahid Hall, Al Warqa`a ...

Abu Dhabi / WAM The Abu Dhabi Department of Energy (DoE) and the Environment Agency — Abu Dhabi (EAD) held a meeting recently to discuss the progress made by the joint taskforce they had formed to promote collaboration among them to ensure the sustainability of natural ecosystems and preserve the terrestrial and marine environment of the emirate. The taskforce was ...

ABU DHABI / WAM As climate change continues to be one of the greatest challenges facing mankind today, and in light of research revealing a fast-emerging market opportunity valued at $7.1 trillion, the World Future Energy Summit has announced the introduction of a new Climate and Environment Expo & Forum, hosted in partnership with the UAE Ministry of Climate Change ...

Bloomberg South Africa’s power utility, the nation’s biggest producer of greenhouse gases that mainly uses coal for electricity generation, is working on a plan aimed at net zero emissions by 2050. Eskom Holdings SOC Ltd “has an aspirational vision” of reaching the goal, which includes the creation of jobs, the utility said in a reply to questions. “We are currently ...

Bloomberg Donald Trump is expected to issue a formal order drawing down US troops in Afghanistan and Iraq to 2,500 in each country by January 15, a US defense official said, as the president works to deliver on his longtime pledge to exit from “endless wars.” US Central Command has received an informal warning order, according to the official. The ...

Bloomberg Huawei Technologies Co sold its Honor smartphone business to a Chinese government-backed consortium for an undisclosed amount, hiving off the entry-level devices arm after the Trump administration cut off its access to American technology. The consortium was formed by the Shenzhen Smart City Technology Development Group Co and more than 30 of Honor’s partners, agents and dealers, from private ...

Bloomberg Tesla Inc, Elon Musk’s 17-year-old upstart carmaker, took a giant step towards blue-chip respectability, getting named to one of the world’s most famous stock indexes in an action that will greatly broaden its investor base. The announcement that Tesla will enter the S&P 500 on December 21 follows months of speculation, and one temporary setback, after the stock failed ...

Bloomberg German Chancellor Angela Merkel expressed optimism that a recovery in Europe’s biggest economy will gather pace once the coronavirus pandemic is brought back under control. Merkel said that while the situation remains “very serious,” officials are better equipped now to fight the disease than at the start of the outbreak in the spring. She cited recent progress in developing ...