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ABU DHABI / WAM The UAE Embassy in Beirut, in cooperation with the Zayed Charitable and Humanitarian Foundation, launched an initiative aimed at distributing 10,000 food parcels and 60 wheelchairs in Lebanon. The initiative is in cooperation with civil society organisations registered with the Lebanese Ministry of Interior, municipalities, and care homes for elderly people. The gesture is part of ...

Abu Dhabi / WAM Abu Dhabi’s Technology Innovation Institute (TII), the applied research pillar of the Advanced Technology Research Council (ATRC), announced on Tuesday that its Cryptography Research Centre (CRC) has built the UAE’s first national and sovereign crypto library. The milestone is set to enable the country to safeguard vital and confidential sources of information. The development follows a ...

Dubai / WAM Dubai Economy is strengthening its initiative launched earlier this year to bring together key industry sectors and stakeholders in an all-encompassing journey towards transitioning Dubai into a circular economy in line with the vision of the leadership and strategic plans of government. The move has gained fresh momentum with HH Sheikh Hamdan bin Mohammed bin Rashid Al ...

Bloomberg Norway’s top court dismissed an attempt by climate activists to halt Arctic oil exploration by Western Europe’s biggest petroleum-producing nation. The Nordic government beat back a lawsuit by environmental groups in the country’s Supreme Court, which ruled on Tuesday the authorities had acted lawfully by awarding exploration licenses in the Barents Sea to companies including Equinor ASA, Aker BP ...

Bloomberg China is limiting power supplies in some provinces as cold weather and the country’s industrial recovery boost demand. Power supplies are being cut to some industrial and commercial customers in Hunan and Jiangxi provinces, where demand has jumped by at least 18% over the previous year, Zhao Chenxi, an official with the National Development and Reform Commission said at ...

Bloomberg Sasol has agreed to sell its stake in a 175-megawatt gas-fired power plant in Mozambique to Azura Power for about $145 million as part of an accelerated disposal program to pay down debt. The sale of its 49% shareholding in the Central Termica de Ressano Garcia plant is subject to conditions including a pre-emption right by state-owned Electricidade de ...

It was kind of inevitable that Tesla Inc’s biggest challenger wouldn’t be a car company. Apple Inc makes for the perfect nemesis and could teach its California cousin a thing or two about reliability and delivery. For years, there’s been speculation that Apple would join the electric vehicle race, with teams formed and development under way. Yet the program also ...

Things couldn’t feel less festive in Britain right now. There’s a new — apparently homegrown — virus mutation, rising Covid case numbers, the cancellation of Christmas gatherings, and stalled Brexit talks. Now Europe has put the UK into isolation, closing borders because of worries about the new Covid strain. It isn’t just Christmas travellers who face disruption. Some 10,000 large ...

Last year’s backlash against Facebook Inc’s planned digital currency Libra would have been most CEOs’ worst nightmare. Governments and regulators linked arms to repel a perceived threat to monetary sovereignty, financial stability and data privacy. Mark Zuckerberg tried to reassure politicians by talking up financial inclusion and innovation. He even acknowledged the problem: “I get that I’m not the ideal ...

The pandemic relief deal that Congress struck is long overdue. Unfortunately, the package includes a provision that threatens to make this and future crises worse — by limiting the emergency powers of the Federal Reserve. At issue is Section 13(3) of the Federal Reserve Act, which grants the central bank broad powers to make loans and otherwise keep money flowing ...