UAE, Kuwait discuss ways to boost cooperation

  KUWAIT / WAM Dr Matar Hamed Al Neyadi, UAE Ambassador to Kuwait, met Fahad Mutlaq Al Shurai’an, Minister of Commerce and Industry of Kuwait, in his office at the ministry’s headquarters. During the meeting, they discussed relations between the two brotherly countries and ways of enhancing and developing them in a number of economic and commercial fields. The ambassador ...

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NYUAD study offers insights about urban traffic management

  ABU DHABI / WAM New York University Abu Dhabi (NYUAD) is offering new insights about urban traffic management to create improved systems for the traffic modelling and management. A team of researchers, including NYUAD Research Scientist, Daniel Bramich, and NYUAD Professor of Civil and Urban Engineering and Director of the Cities Research Centre, Monica Menendez, have published a review ...

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European power declines as gas drops on rising flows from Russia

  Bloomberg European power prices extended last week’s drop, tracking natural gas futures lower as Russian supplies of the fuel are increasing. German and French electricity for March slid about 7% each on Monday on the European Energy Exchange AG, adding weight to the notion that the market has moved beyond the worst of the energy crisis. Traders are keeping ...

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Texas power grid passes winter test

  Bloomberg Texas’s power grid passed its biggest test since last year’s deadly blackouts, keeping most lights on during a wintry blast. This storm, however, was far less severe than last year’s monstrous one, leaving questions whether the state is really ready for another deep freeze. While reforms politicians enacted in the past year did help keep power plants running, ...

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A Unilever breakup would be expensive but worth it

  Unilever Plc wants to buy and sell assets to create a faster-growing consumer-products business. But this strategy of bulking up before slimming down won’t serve shareholders well. With activist Nelson Peltz building a stake in Unilever through his hedge fund Trian Fund Management LP, the prospect of breaking up the giant has come into sharp relief. That’s because its ...

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Facebook, Google’s ad addiction can’t last

Alphabet Inc. and Meta Platforms Inc., the world’s biggest digital advertising platforms, once again raked in astonishing amounts of money in 2021. “So what else is new?” you’re probably wondering. Almost every year for the past decade, the companies also known as Google and Facebook set profit records. But this week marked a troubling difference. Facebook’s announcement that user numbers ...

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A US digital dollar should serve public, not banks

  The Federal Reserve last month released a report about how the US might update its currency for an “age of digital transformation.” While the long overdue assessment doesn’t reach a conclusion on whether a new digital dollar would be a good idea, the way it breaks down the issues repeatedly confuses the interests of the financial sector with those ...

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Rise in inventories sounds an alarm about inflation

  As companies worldwide work to rebuild their stockpiles of goods, they are sending a message about inflation. The trouble is that message is far more worrisome than many people have concluded, and it poses a bigger-than-expected problem for policy makers and the markets. Consider last week’s release of US gross domestic product numbers for the fourth quarter. Those who ...

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Airbus defuses German strike threat as union reaches deal

  Bloomberg Airbus SE dodged the threat of strikes in Germany, reaching a labor deal that will allow continued production of its best-selling A320 jetliner. The accord rules out compulsory job cuts at restructured parts plants until the end of 2030, according to the IG Metall union. Airbus agreed to invest in the sites until at least that date and ...

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