EU unveils proposals to counter US green subsidy, China competition

• The measures are a response to a landmark US spending bill last year that funnels $370 billion into subsidies for America's energy transition.
• While countries like France support state aid expansion, others argue that would help only richer member states and fragment the single market.

Dubai energy demand grew by 5.5 percent in 2022: DEWA CEO

• DEWA provides electricity and water services to 3.514 million people living in Dubai and the Emirate’s active daytime population of over 4.7 million.
• These numbers are expected to grow to 5.8 million and 7.8 million, respectively by 2040.

Humanoid robots to take center stage at UN meet on AI

• The AI for Good Global Summit, first held in 2017, will return to Geneva on July 6 and 7 after a three-year Covid-imposed break.
• The event will aim to showcase how artificial intelligence and other new technologies can help reach the UN's so-called sustainable development goals.f

Arada finalizes first set of homes worth $6.53bn in third phase of Sharjah project

• Under the project, which features 2,000 units, , a total of 1,621 apartments have been finished across 14 buildings
• Each apartment block has communal areas, with additional space set aside for local facilities, including small shops and cafes

Electric car sales gain pace despite roadblocks

• US is giving its electric car industry a major boost with the passage of a $370 billion green energy bill that includes tax cuts for US-made electric cars and batteries
• Tesla has announced price cuts on electric cars of up to 20 percent in Europe and the United States in early January, quickly followed by a similar move from Ford

ExxonMobil posts bumper profits

• Profits rose 43.7 percent to $12.8 billion in the fourth quarter, thanks to higher oil and natural gas prices and better refining margins compared with the year-ago period.
• The company's revenues from October through December rose 12.3 percent to $95.4 billion

Dubai sees entry of 10,500 wooden dhows in 2002, boosting trade

• The wooden dhows ferried 1.7 million metric tonnes of merchandise from countries across the MENA region and beyond
• The Marine Agency is aiming to boost trade with neighbouring countries further and contribute to the objectives of the Dubai Economic Agenda D33

Agthia posts 14% profit jump

• Its net revenue increased 33 percent to $1.09 billion, with growth of 97 percent on a two-year basis
• The company's total assets stood at $1.85 billion by end-2022, with total shareholders’ equity of $762 million

Abu Dhabi’s strong tech ecosystem acts as a magnet for key global innovative companies

Saudi Arabia, UAE set to lead IPO activities in GCC

• Around 27-39 companies in the Gulf region are expected to come out with IPOs in the first few months of this year with the Kingdom and UAE leading from the front, reports suggest.
• Saudi and the UAE have also taken substantial measures to facilitate IPO operations in their markets in terms of facilitating business and performing IPOs, they highlight