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Russia claims Donbas town but Ukraine says it’s in control

  Bloomberg Russia claimed Moscow’s troops had taken Soledar, a small town in the Donetsk region of Ukraine, in one of their first victories in months. Kyiv rejected the claim. A salt mining town with a population of 10,000 before Russia launched its invasion in February 2022, Soledar has limited strategic value but has been the site of weeks of ...

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Sharjah promotes its diverse opportunities at Asian forum

  Sharjah / WAM The Sharjah FDI Office (Invest in Sharjah) participates in the Asian Financial Forum (AFF) in Hong Kong. Led by Muhammed Al Musharakh, CEO, Invest in Sharjah, Marwan Saleh Alichla, Director, Investment Promotion & Support (Invest in Sharjah), Invest in Sharjah’s team participation aims to showcase the emirate’s diverse investment opportunities to international investors and business leaders ...

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Abu Dhabi plants one million mangrove seeds by drone

  Abu Dhabi / WAM The Environment Agency – Abu Dhabi (EAD) has successfully planted one million mangrove seeds using drones as part of the first phase of a drone mangrove plantation project supporting the Abu Dhabi Mangrove Initiative. The Abu Dhabi Mangrove Initiative was announced in February 2021 during Prince William, the Duke of Cambridge’s landmark visit to the ...

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UAE appoints Sultan Al Jaber as president-designate for COP28

  Abu Dhabi / WAM Under the directive of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Court, on Thursday appointed Dr Sultan Ahmed Al Jaber as President-Designate for the 28th Conference of the Parties (COP28). Shamma Al Mazrui, UAE Minister of State for Youth ...

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Abu Dhabi and Iran discuss potential for economic cooperation

  Abu Dhabi / WAM Khalifa Shaheen Al Marar, Minister of State, met with Dr Mahdi Safari, Deputy Foreign Minister for Economic Diplomacy of the Islamic Republic of Iran, and an accompanying economic delegation at the headquarters of the Ministry of Foreign Affairs and International Cooperation in Abu Dhabi. A series of meetings was held to discuss the potential for ...

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Swedish miner finds Europe’s largest rare earth deposit

  Bloomberg The largest known deposit of rare earth minerals in Europe has just been discovered in Sweden’s Arctic, with potential to help the continent break free from China’s dominance on the market for the resources. The deposit, found by Swedish state-owned mining company LKAB, contains more than 1 million tons of rare earths, according to a statement on Thursday. ...

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TSMC plans to cut spending to offset falling near-term sales

  Bloomberg Taiwan Semiconductor Manufacturing Co. is bracing for weaker-than-expected sales by reducing spending, deepening concerns the technology industry’s slump is yet to bottom. The chip giant signaled this quarter could mark its first revenue drop in four years. But executives forecast slight growth for the full year on an expected recovery in demand for server chips. The company is ...

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Tesla China plant expansion in doubt over Starlink concerns

  Bloomberg An expansion of Tesla Inc.’s plant in Shanghai has been delayed, according to people familiar with the matter, over data concerns that risk putting a roadblock in the way of the US electric-car maker’s ambition to keep growing in China. The so-called phase-three expansion originally slated to start mid-year would have seen the plant’s capacity double to around ...

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Malaysia mulls halting palm oil exports to EU to oppose new rule

  Bloomberg Malaysia, the world’s second-biggest palm oil producer, will consider halting exports to the European Union in retaliation for the bloc’s new deforestation regulation, according to the country’s deputy prime minister. The regulation is an act to block market access for palm oil and Malaysia will discuss with Indonesia — the top producer and exporter — about the option ...

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UK and EU aim for final deal to end Brexit clash in fresh talks

Bloomberg The European Union and the UK are preparing to enter an intense phase of negotiations starting next week aimed at overcoming the dispute over the post-Brexit trading relationship well ahead of the anniversary of Northern Ireland’s peace agreement in April, according to people familiar with the matter. The aim is to move into a negotiating “tunnel” after UK foreign ...

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