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Abu Dhabi / WAM Abu Dhabi Fund for Development (ADFD) has been supporting the country’s effort towards driving energy transition at home and around world by financing innovative renewable-energy projects. These initiatives have had powerful impact on economies and the environment of beneficiary countries. The fund has consistently increased its portfolio of such projects, having funded 90 of them over ...

Bloomberg Renewables are for the first time the dominant power source in Europe’s electric grid. In a year that saw pandemic restrictions sap energy demand across the continent, the drop in supply came mostly from more expensive power from fossil fuels. That helped green sources take the biggest share of the European Union’s generation, a portion that will keep growing ...

Bloomberg China’s decision to fly more than a dozen military aircraft, including strategic bombers, into the Taiwan Strait this weekend sends an early warning to President Joe Biden on one of the most volatile issues between Beijing and Washington. The sortie by eight Xian H-6K bombers and five other planes was the third-largest such incursion by People Liberation Army (PLA) ...

ABU DHABI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, stated that 2020 was an exceptional year full of national achievements in all sectors worthy of pride, noting that he is proud of the government’s successes, despite the challenges caused by the coronavirus pandemic. He was also optimistic that 2021 ...

Dubai / WAM Dubai Electricity and Water Authority (Dewa) continues to develop world-class infrastructure, supported by assets that exceed AED182 billion owned by Dewa and its subsidiaries, and around AED86 billion of investments in the energy and water sectors over five years. This helps Dewa enhance its production capacity to meet the growing demand and provide its services to more ...

ABU DHABI / WAM The central bank of the UAE (CBUAE) announced it conducted the first-of-its-kind cyberattack simulation exercise that is designed to test the resilience of the UAE’s banking sector against any potential cyber threats. The exercise affirms CBUAE’s preparedness to prevent or mitigate cyber threats that may cause disruptions to the UAE’s economy and financial stability. The exercise ...

Abu Dhabi / WAM The Department of Health – Abu Dhabi (DoH) has approved three new Covid-19 tests to be used in Abu Dhabi’s healthcare facilities’ emergency departments and urgent care centres. The new tests provide faster results and will efficiently contribute to physicians’ decision-making when it comes to providing suitable treatment for patients. The three new approved tests include ...

Bloomberg Samsung Electronics Co is considering spending more than $10 billion building its most advanced logic chipmaking plant in the US, a major investment it hopes will win more American clients and help it catch up with industry leader Taiwan Semiconductor Manufacturing Co. The world’s largest memory chip and smartphone maker is in discussions to locate a facility in Austin, ...

Bloomberg Indonesia sees downside risks for economic growth in the first quarter as the government imposed more restrictions to curb a worsening coronavirus outbreak, said the finance minister. The first quarter is “very tough,” Finance Minister Sri Mulyani Indrawati said in an interview with Bloomberg Television. “We hope in February and March we can still catch up despite the January ...

Bloomberg The US State Department urged China to engage in dialogue with Taiwan’s democratically elected representatives and cease putting military, diplomatic and economic pressure on the island. The US statement came as Taiwan said a fleet of 13 Chinese military planes, including eight H-6K bombers, entered its air defense identification zone, in an apparent stepping up of Beijing’s almost constant ...