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  DUBAI / WAM Dr Suhail Al Bastaki, Director of Happiness and Marketing Department at Union Coop, confirmed that consumers had interacted positively with the decision to limit single-use plastic bags since its implementation on July 1. He added that consumers are using recyclable and environmentally friendly bags that can be used multiple times while making a purchase. He pointed ...

  Bloomberg The world’s oil map is being redrawn as the industry becomes increasingly intertwined with renewables, according to consultancy Wood Mackenzie Ltd. Oil majors that want to reduce their carbon footprint will have to shift their activities to energy basins where drilling rigs can be powered by renewables and which have ample space for carbon sequestration, said Andrew Latham, ...

Bloomberg Taiwan has been left “hurt” and confused by contradictory signals coming out of Washington over a possible visit to Taipei by House Speaker Nancy Pelosi. Pelosi is planning a trip to Asia that would include a visit to Taiwan, according to people familiar with the matter. It would be the first by a House speaker to Taipei since 1997. ...

Bloomberg The UK government is borrowing billions of pounds more than forecast as soaring inflation drives up the cost of servicing the national debt. Official figures showed the budget deficit totalled £22.9 billion ($27.5 billion) in June, up more than 20% compared with the same month last year. It left the gap in the first three months of the fiscal ...

Bloomberg Applications for US state unemployment insurance rose for a third week to the highest since November as more companies announce job cuts, suggesting some softening in the labour market. Initial unemployment claims increased by 7,000 to 251,000 in the week ended July 16, Labour Department data showed. The figures coincide with the reference period for the July jobs report ...

  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 ...