Boost investment to avert ‘decade of wasted opportunity’: World Bank
Global growth is set to slow from an estimated 2.6 percent in 2023 to 2.4 percent this year, 0.75 percentage...Business Economy
ExxonMobil to go net-zero by 2050
The net-zero target is only for its operations, not products.Chief executive of ExxonMobil confirmed that the company has committed to have a Permian operations at net-zero carbon by 2030
The company will release "detailed roadmaps" addressing 90 percent of operations-related greenhouse gas emission by the end of 2022
OPEC Fund extends $35m loan to support Vietnam SMEs
The amount will reportedly be given to the Vietnam-based Southeast Asia Commercial Joint Stock Bank (SeABank) for on-lending.The money will be used to facilitate access to finance for SMEs and women-owned businesses in Vietnam
It will also be used to promote climate funding for a sustainable economic recovery in the country
Marka: From a star UAE retailer to a bankrupt firm
Flouting norms, massive mismanagement and lack of transparency and corporate governance have potential to take any company the Marka Holding...The recent Dubai court decision highlights that the funds of shareholders and creditors should be judiciously used. Else, the law of the land will catch you
In October 2021, the UAE retail and leisure company Marka was declared bankrupt by a local court, and all of its assets were brought into liquidation
Microsoft to buy Activision Blizzard
The $69-billion deal is the largest acquisition in the gaming world.The deal will make Microsoft the third-largest gaming company by revenue, behind Tencent and Sony
This will be the largest acquisition in the industry, far ahead of Take-Two's $12.7-billion purchase of Zynga
AT&T, Verizon agree to delay 5G activation at some airports
US Telecom giants AT&T and Verizon will delay the implementation of their 5G network on a "limited number" of towers...AT&T and Verizon agreed on partial delay of their 5G deployment as US airlines warned of "major operational disruptions" due to the rollout
The FAA has approved some transponders to be safely operated within areas where 5G will be deployed
World tourism won’t return to pre-Covid levels until 2024: WTO
In Europe and the Americas, foreign visitor arrivals surged by 19 percent and 17 percent, respectively, last year over 2020....Tourism revenue in 2020 was 72 percent down on the previous year which closed with the Covid onset
The highly contagious Omicron variant, though mild, will "disrupt the recovery" in 2022
Ferrari World and Warner Bros. break Guinness Records titles
Ferrari World Abu Dhabi and Warner Bros. World Abu Dhabi broke two Guinness World Records titles in celebration of the...Warner Bros. World Abu Dhabi broke the record title with 20,482 contributions during the festive season
The Park broke the record title with 4,826 contributions breaking the previous world record of 2,462
Europe showcases work on circular economy at Expo 2020
An event at the Expo 2020 Dubai showcased Europe's work for the transition to the circular economy and how it...The event showed Europe's willingness to foster international cooperation especially in a time of post-pandemic awareness and recovery
The function opened with a welcome speech by Executive Vice President Frans Timmermans and will close with a message from Environment Commissioner
Masdar joins consortium to build solar power facilities in Indonesia
Masdar will be joining a consortium that will develop solar photovoltaic facilities with a capacity of about 1.2 gigawatts and...The renewable energy company signs MoU with Singapore’s Tuas Power, France’s EDF Renewables and PT Indonesia Power.
Singapore is looking to import as much as 4 gigawatts of low-carbon electricity by 2035, which would constitute 35 percent of its total supply.
SCCI teams up with Emirates Creative to support innovation
The Sharjah Chamber of Commerce and Industry (SCCI) has signed a strategic cooperation agreement with the Emirates Creative Association to...Both have agreed to develop methods for systematic research, sponsoring and organizing conferences
They also agreed to launch an action plan to implement joint projects in creativity and innovation
