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ACWA Power is expanding the production of solar panels in Saudi Arabia and becoming a leader in the development of the renewable energy industry in the country. The company is owned by a local government fund and plans to join the joint project of the fund and the Japanese SoftBank as an equipment manufacturer. The cost of the project, the capacity of which in 2030 will be 200 GW, is estimated at $200 billion. The key objectives of the project are the creation of jobs in the country and the development of industry according to the diversification plan for the Saudi Arabian economy.
Indonesia on Wednesday rolled out a 100 trillion Rupiah ($6.92 billion) loan guarantee scheme for prioritized businesses to keep them afloat as the COVID-19 situation continued to worsen around the world, the country’s finance minister ...
Bloomberg News reported on Thursday that Elon Musk’s Space Exploration Technologies Corp. (SpaceX) is in talks to raise new funds at a valuation of $44 billion. The aerospace company said that it is in discussions with a number of investors ...
The self-driving car company Waymo LLC and Fiat Chrysler Automobiles NV (FCHA.MI) signed a partnership deal on Wednesday to fully develop self-driving cars, pickups, and SUVs. Waymo, an Alphabet Inc. (GOOGL.O) unit, and Fiat Chrysler said ...
On Tuesday, Ebay Inc. (EBAY.O) announced that it had reached a deal to sell off its classified ads business unit to Adevinta ASA (AD5B), a Norway-based classified ads publisher owned by Danish media company Schibsted (SBSTA.OL). The classified ...
Oil prices steadied on Tuesday, stuck in narrow ranges as investors pinned hopes on fuel demand recovery amid renewed lockdowns due to rising coronavirus cases. Prices were supported by positive news on vaccine development as medical institutions ...
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