Category: Business

BEIJING: Profits of China’s major industrial firms increased 4.3 percent year-on-year in the first four months of the year, official data showed Monday.

State news agency (Xinhua) quoted the National Bureau of Statistics as saying that the growth rate was the same with that registered in the first quarter.

Industrial firms with an annual main business revenue of at least 20 million yuan (about US$2.81 million) saw their combined profits reach 2.09 trillion yuan during January-April.

Source: Emirates News Agency

BRUSSELS: New car sales in the European Union rebounded sharply in April, thanks to strong demand among four major markets, especially Spain and Germany, according to monthly data from the European Automobile Manufacturers’ Association (ACEA).

German news agency (DPA) reported on Wednesday that new car registrations rose 13.7 percent year-over-year to 913,995 units in April, reversing a 5.2 percent fall in March. This growth can be partly explained by the fact that there were two extra sales days compared to the same month last year, when Easter holidays fell in April, the ACEA said.

Among the four major markets, the Spanish market showed the strongest sales growth of 23.1 percent, followed by Germany with a 19.8 percent rise. Car sales in France also logged double-digit growth of 10.9 percent over the year, and sales demand in the Italian car market was 7.7 percent higher.

In April, battery electric car sales showed an increase of 14.8 percent annually, with the market share remaining broadly stable at 12
percent. Strong growth was also seen in hybrid-electric vehicles, with registrations rising 33.1 percent in April.

The EU’s petrol car sales expanded by 7.3 percent, but its market share dropped to 36 percent in April from 38.1 percent a month ago.Meanwhile, the market for diesel cars stayed stable at about 118,000 units, or roughly 13 percent of the total.

In the first four months of this year, the number of new car registrations in the European Union rose by 6.6 percent to around 3.7 million units.

Source: Emirates News Agency

DUBAI: The second edition of Integrate Middle East (IME), a premier Pro Audio Visual and media technology exhibition, concluded the IME Summit on day two with key discussions on AI integration and advancements.

The summit, which featured 20+ global thought leaders, was part of the three-day exhibition organised by the Dubai World Trade Centre (DWTC) and aimed to create an essential learning and networking event for the whole Pro AV integration value chain.

Discussions on how AI integration is transforming the Pro AV world addressed topics including ‘The Role of AI in Music Production,’ ‘The Integration of AI and Hybrid Pro AV into Immersive Storytelling,’ ‘Data Art, AI, and the Future of Experiential Visual Content,’ and ‘The Future of AI in Workplace Design and Built Environment.’

Thought leaders and industry experts reflected on the widespread growth of AI in the Pro AV space and current industry trends that have seen the technology makes a transformational impact on every workflow, process, and business
.

Diving into the heart of innovation, the summit fostered enriching dialogues and partnerships and spotlighted lucrative prospects for advancement across the MENA region. With insights from Data Bridge Market Research, projections unveil a compelling narrative: the Middle East Pro AV market is poised to surge at a remarkable compound annual growth rate (CAGR) of 6.9%, soaring from USD 13,432.93 million in 2022 to USD 22,705.90 million by 2030. This forecast underscores a profound opportunity for exponential market expansion.

Once again co-located with long-running show CABSAT, Integrate ME 2024 further amplified its impact and global standing by showcasing state-of-the-art Pro AV technology solutions such as digital signage, command and control room models, and innovations for entertainment, live events and smart buildings.

New for 2024, it presented an exclusive Brand Ambassador programme, which recognised exceptional business leaders. This eminent panel of experts helped to strengthen the evolving indus
try, initiate high-level discussions, and establish the region as a popular media and entertainment hub.

When it concludes on May 23, Integrate Middle East 2024 is anticipated to have drawn remarkable outcomes in propelling the progress of the Pro AV and media sector, with AI integration emerging as a key facilitator of innovation. Additionally, the event is expected to have welcomed 10,000 visitors, and 250-plus exhibiting companies from 75 countries.

Source: Emirates News Agency

ABU DHABI: Dr. Amna bint Abdullah Al Dahak, Minister of Climate Change and Environment, underscored the pivotal role of enhancing biodiversity in the restoration of Mother Nature and the natural ecosystems of the planet. This strengthens the role of the UAE’s initiatives in combating climate change through nature-based solutions, environmental conservation, and fostering sustainable development across all sectors.

In a statement marking the International Day for Biological Diversity, marked 22nd May, Al Dahak said that this year’s Day is held under the theme ‘Be Part of the Plan,’ inviting all stakeholders to join in curbing biodiversity loss. This theme resonates with the UAE’s approach of involving all relevant entities, including the private sector, in exerting concerted efforts and empowering every member of society to become a part of the action.

This, in turn, would drive transformation and steer the course towards reconnecting with the nurturing embrace of natural heritage.

She emphasised, “Nature s
tands as the primary defence line for achieving economic and social development in the UAE and globally. Its profound significance lies in preserving natural resources, maintaining environmental equilibrium, and addressing the impacts of climate change. Biodiversity loss poses a genuine threat to humanity and our planet.”

The minister stated that the the world has witnessed a staggering 69% decline in wildlife populations over the past 50 years, primarily due to deforestation and desertification. Human activities have altered more than 70% of non-ice-covered land on Earth, endangering further loss of wildlife and pushing more species towards extinction.

She elaborated that promoting biodiversity is a paramount priority for the UAE, with the nation embracing 49 protected areas, teeming with biodiversity and endangered species. Moreover, the UAE places special emphasis on expanding mangrove forests for their crucial role as natural carbon reservoirs and their contribution to safeguarding coastal ecosystems. T
his commitment is exemplified through the UAE’s pledge to plant 100 million mangroves by 2030.

Minister Al Dahak reiterated that biodiversity took centre stage in the COP28 agenda, culminating in the historic UAE Consensus, which underscored the pivotal role of nature and natural ecosystems in the global strategy to address climate change. This was reflected in the COP28 response, which emphasised the importance of integrating nature and biodiversity in addressing climate challenges.

Additionally, COP28 endorsed the ‘Joint Statement on Climate, Nature and People,’ garnering support from 18 countries and leading to 11 biodiversity partnerships. Financial contributions during the significant event reached $2.6 billion towards nature conservation.

Source: Emirates News Agency

ABU DHABI: The third edition of the Electric Vehicle Innovation Summit (EVIS 2024) came to a close today at the Abu Dhabi National Exhibition Centre. Held from 20th to 22nd May, the event attracted thousands of visitors and garnered exceptional feedback, affirming its position as a pivotal event in the electric vehicle industry.

EVIS 2024 provided a dynamic platform for industry leaders to explore the latest trends, exchange ideas, and experience the technologies that are shaping the future of transportation. With its extensive programme and international participation, the summit highlighted the strong commitment to electric mobility and sustainable transportation solutions globally.

As EVIS 2024 wraps up, the excitement continues to build for next year’s event. Numerous organisations have already confirmed their participation for the next edition, signalling continued growth and interest in the evolving landscape of electric mobility. This sustained enthusiasm underscores the importance of EVIS as a leadi
ng forum for showcasing innovative solutions and fostering industry advancements.

Source: Emirates News Agency