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Honda shares soar 16%

The surge came after the auto giant announced a $7bn buyback.

Mubadala acquires stakes from GHH

It acquired an 80 percent stake in Global Medical Supply Chain.

ADNOC Drilling closes JV

It is a JV between ADNOC Drilling, SLB and Patterson UTI.

Boeing to boost 787 production

The firm will invest$1bn to ramp up production in South Carolina.

ADNOC signs deal with PETRONAS

Under the agreement, ADNOC will supply 1m tons of LNG per year.

All cabs running in Dubai to be fully electric or hybrid by 2027

    • Special incentives to be given to cabbies to convert their cabs into either of the two variants

    • Dubai Roads Authority has succeeded in converting 50 percent of Dubai Taxi fleet to be fully electric or hybrid

    Setting itself the task of converting its entire fleet of cabs into fully electric or hybrid variant, Dubai Roads Authority (RTA) has succeeded in converting 50 percent of its Dubai Taxi fleet to be fully electric or hybrid, and aims to reach 100 percent by 2027, Asharq reported citing the Authority’s CEO of Strategy and Corporate Governance Sector Nasser BuShehab.

    Incentives adopted by the authority to support the spread of electric cars include exemption from parking and road fees (SALIC), as well as free annual licensing fees for hybrid and electric vehicles.

    Dubai is working in accordance with a plan that the UAE committed to under the Paris Climate Agreement to reduce carbon emissions, BuShehab told Asharq Channel.