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Tesla continued to lose market share on the mainland to its Chinese rivals in February, as sales plunged more than 50 per cent.The US carmaker delivered 30,688 Shanghai-made Model 3 and Model Y electric vehicles (EVs) to buyers last month, a decline of 51.5 per cent from January and 49.2 per cent from a year earlier, according to figures from the China Passenger Car Association (CPCA) on Thursday. The February figure was also the lowest since 28,217 vehicles were delivered in July 2022.Across the nation, some 720,000 EVs were delivered in February, a drop of 3 per cent from January,…
The government of Ras Al Khaimah has successfully closed its offering of a 10-year $1 billion senior unsecured sukuk at a profit rate of 5.038 percent on March 5, 2025, it announced on Thursday. The offering was oversubscribed 4.4 times.The government tapped the international debt capital market after 10 years and the issuance of the sukuk was completed under the government’s $2 billion Trust Certificate Issuance Programme which was signed on February 28, 2025.The sukuk was issued under the programme by RAK Capital, a special purpose vehicle affiliated with the government of Ras Al Khaimah.Read: Ras Al Khaimah real estate…
The Ajman Municipality and Planning Department has announced that the value of construction contracts in the emirate grew 62.5 percent, surpassing AED9.655 billion ($2.6 billion) in 2024. This aligns with the emirate’s strategic objective of promoting sustainable development within the construction and building industry.Abdul Rahman Mohammed Al Nuaimi, director-general of the Department, emphasized that the value of contracts experienced remarkable growth in comparison to 2023, when it totaled AED5.936 billion ($1.6 billion). He also underscored Ajman’s success in establishing itself as a modern emirate that guarantees a high quality of life for residents, visitors, and tourists while also creating an…
India ranked 4th in global billionaire wealth, just behind the United States, China and Russia, as its billionaire population expanded 12% between 2023 and 2024, according to the Knight’s Frank’s Wealth Report 2025, published on Wednesday. The latest data collated by the global property consultant highlights India’s expanding wealth landscape, with the High Net Worth Individual (HNWI) population – those comprising assets exceeding $10 million – reaching 85,698 added the report. India currently boasts 191 billionaires, of which 26 were created within the past year – up from just 7 in 2019. France, Brazil, and Russia are also seeing significant…
Recently fired U.S. Agency for International Development (USAID) staff carry boxes with a message as they leave work and are applauded by former USAID staffers and supporters during a sendoff outside USAID offices in Washington, D.C., U.S., February 21, 2025.Brian Snyder | ReutersPresident Donald Trump’s efforts to pare down the federal government workforce left a mark on the labor market in February, with announced job cuts at their highest level in nearly five years, outplacement firm Challenger, Gray & Christmas reported Thursday.The firm reported that U.S. employers announced 172,017 layoffs for the month, up 245% from January and the highest…
Etihad passengers will receive an email link to access the Abu Dhabi Pass for free The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) and Etihad Airways have today unveiled the innovative Abu Dhabi Pass at ITB Berlin, the largest tourism trade fair in the world.The new Abu Dhabi Pass, WAM reported, revolutionizes the visitor experience by creating a fully digital journey, making it easier to access the emirate’s diverse offerings. Etihad passengers will receive an email containing a link that allows them to access the Abu Dhabi Pass via a dedicated website, with no extra cost…
App Store sales are off to a strong start in Apple ‘s current quarter, which bodes well for a major growth driver expected to eclipse $100 billion in a fiscal year for the first time ever. The news Revenue from the App Store in the first 65 days of Apple’s fiscal second quarter grew 14% to $6.1 billion versus the same period a year ago, Bank of America said Wednesday, citing SensorTower data. A big driver of the boost was productivity apps as OpenAI’s ChatGPT saw daily active users nearly triple year over year. App Store feeds into the tech…
This Decree is effective from March 1, 2025, and will be published in the Official Gazette In his capacity as the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, issued Decree No. (13) of 2025, seconding Justice Dr. Abdulrahman Juma Mohammed Sharaf, Senior First Instance Judge, at The Rental Dispute Settlement Centre in Dubai, to the position of Assistant Secretary-General of the Dubai Judicial Council.This Decree is effective from March 1, 2025, and will be published in the Official Gazette, Dubai Media Office reported.On Wednesday, Sheikh Mohammed issued Decree…
The Japanese yen fell in Asian trade on Thursday away from five-month highs against the dollar on profit-taking, as the odds of Japanese interest rate hike in March declined following cautious remarks by BOJ officials. The yen is also pressured by higher US 10-year treasury yields ahead of important US labor data this week, which could provide fresh pricing for the odds of a Fed rate cut in the next quarter. The Price The USD/JPY pair rose 0.3% today to 149.33, with a session-low at 148.72. The yen rose 0.6% against the dollar on Wednesday, approaching…
Growing concerns about the risks posed by artificial intelligence (AI) are emerging among China’s lawmakers and political advisers, making them a hot topic at this year’s “two sessions” – the annual meetings of the National People’s Congress (NPC) and the Chinese People’s Political Consultative Conference (CPPCC).While the success of Chinese AI start-up DeepSeek has increased the domestic tech sector’s global influence, some NPC deputies and CPPCC members at the meetings in Beijing called on Wednesday for stronger regulation to curb AI-related misinformation, fraud and security breaches.Balancing technological innovation with the need for security is a major challenge for the AI…