Middle Eastern Business Headlines at 6:11 a.m. GMT
Middle Eastern Business Headlines at 6:11 a.m. GMT

Middle Eastern Business Headlines at 6:11 a.m. GMT

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Diverging Reports Breakdown

How Much Snow Fell In Rhode Island Dec. 17?

Rhode Island experienced its first major snowfall of the season Wednesday night into Thursday. The majority of the snow fell overnight, leading many Rhode Islanders to wake up to a winter wonderland Thursday morning. Providence broke its snowfall record for Dec. 17 by nearly two inches.

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Rhode Island experienced its first major snowfall of the season Wednesday night into Thursday, with parts of the state seeing more than a foot of accumulation. The majority of the snow fell overnight, leading many Rhode Islanders to wake up to a winter wonderland Thursday morning.

Providence broke its snowfall record for Dec. 17 by nearly two inches, according to The National Weather Service. The previous record of four inches, set all the way back in 1961, was smashed when 5.8 inches were recorded in the city on Thursday. This measurement does not include any accumulation from Wednesday night.

(National Weather Service)

While some light flurries are still falling in parts of the state, most areas saw actual snowfall taper off around noon. Although the sun is expected to shine in the coming days, don’t expect the snowdrifts to go anywhere soon — it looks like Rhode Island is in for a white Christmas. Temperatures are expected to stay below or near freezing until at least Sunday, then hover in the low 40s for the first part of next week.

Source: Patch.com | View original article

Nio, CYVN form JV Nio MENA to tap Middle East and North Africa markets

Nio and CYVN plan to collaborate on a new EV project involving research, manufacturing and future product launches. Nio MENA will introduce models from Nio and its sub-brands to the MENA market, expanding its footprint and further integrating it into the global smart EV ecosystem. The UAE has been selected as the initial market for Nio, positioning the region as a key player in the deployment of advanced autonomous driving systems and battery swap technologies. The two presidents experienced the Nio ES8, the Onvo L60 and a new car that has yet to be unveiled, according to Nio’s CEO William Li.

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Nio and CYVN plan to collaborate on a new EV project involving research, manufacturing and future product launches.

Nio (NYSE: NIO) has announced the formation of a joint venture in the Middle East to expand into the Middle East and North Africa (MENA) market, with plans for local production.

The Chinese electric vehicle (EV) maker today announced the formation of Nio MENA with its Middle East backer, Abu Dhabi-based CYVN Holdings, in a partnership that marks Nio’s entry into the MENA market.

An agreement was signed on October 4 in the presence of the President of the United Arab Emirates, as well as the President of Egypt, in what William Li, Nio’s founder, chairman, and CEO, called an important day in the company’s globalization process.

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The two presidents experienced the Nio ES8, the Onvo L60 and a new car that has yet to be unveiled, according to Li.

Nio MENA will introduce models from Nio and its sub-brands to the MENA market, expanding its footprint and further integrating it into the global smart EV ecosystem, according to a statement.

The UAE has been selected as the initial market for Nio MENA, positioning the region as a key player in the deployment of advanced autonomous driving systems and battery swap technologies.

As part of its broader regional vision, Nio and CYVN plan to collaborate on a new EV project involving research, manufacturing and future product launches.

This initiative will see Nio MENA working with local partners in Egypt, further advancing Egypt’s role in the electric vehicle manufacturing landscape, Nio said.

Nio and CYVN also plan to establish a research and development center in Abu Dhabi that will focus on the development of autonomous driving and artificial intelligence, according to the EV maker’s statement in English.

Separately, Li said in a post on the Nio App that the company will work jointly with CYVN to develop an all-new model for the local market.

Nio will start deliveries in the UAE in the fourth quarter of this year, offering Nio’s full system of services to customers in the MENA region from the UAE, Li said.

CYVN completed two investments in Nio totaling $3.3 billion in 2023, making it the largest shareholder in the Chinese EV maker, with a stake of about 20.1 percent.

On February 7 of this year, Nio’s board of directors changed, with the addition of two people appointed by CYVN.

On February 26, Nio announced that it had entered into a technology licensing agreement with Forseven Limited, a subsidiary of CYVN, a UK-based EV start-up company bankrolled by CYVN.

Nio will grant Forseven a non-exclusive and non-transferable worldwide license to use certain of the company’s existing and future technology solutions, software and intellectual property related to the company’s smart EV platform, according to its announcement.

Source: Cnevpost.com | View original article

Where have there been asylum seeker hotel protests? Map shows latest demonstrations

Protests have erupted in four regions in the south and east of England since the middle of July. The protests began in Epping when an asylum seeker was charged with sexual assault in a case related to a 14-year-old girl. Essex police have arrested 21 people involved in the protests, and 11 have been charged. Two more people were arrested and charged in connection with a protest in Diss, Norfolk. Police have said it has now cost more than £100,000 to monitor the recent unrest, which began on 17 July. It comes amid a wider debate over the use of hotels to house asylum seekers, with growing tensions in some towns and cities. The Home Office has now paused the decision and is reviewing the decision to switch from families to single male asylum seekers at a hotel in London’s Canary Wharf. Top Labour officials have so far avoided commenting on the protests but on 22 July, the deputy prime minister said immigration and time spent online are having a “profound impact on society’s life’.

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A total of 23 people have now been arrested and 13 charged following a wave of protests outside hotels believed to be housing asylum seekers in the past few weeks.

Protests have erupted in four regions in the south and east of England since the middle of July, with the latest attracting over 100 people to a hotel on the outskirts of Norwich.

Anti-immigration protesters gathered over the weekend in the Bowthrope, which is on the edge of the Norfolk city, chanting: “Whose streets? Our streets”.

Anti-immigration protests in Bowthorpe. (SWNS)

The protests began in Epping when an asylum seeker was charged with sexual assault in a case related to a 14-year-old girl.

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Since then, Essex police have arrested 21 people involved in the protests, and 11 have been charged.

Two more people were arrested and charged in connection with a protest in Diss, Norfolk.

Where have the protests taken place?

Protests have taken place in four areas so far, with the largest being the one in Epping.

Essex Police has said it has now cost more than £100,000 to monitor the recent unrest, which began on 17 July.

Numerous protests have taken place, with some involving more than 100 people.

Earlier protests saw bottles and smoke flares being thrown towards police vans that blocked the entrance to the hotel.

Counter protesters during the demonstrations on the outskirts of Norwich. (SWNS)

Several people have been charged with violent disorder, criminal damage and using threatening and abusive language.

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Police have said the more recent protests that have taken place since 25 July have been more peaceful.

Essex police said it had cost over £100,000 to police the protests. (PA)

Separate protests were staged at a Canary Wharf hotel starting on 22 July in response to online rumours that asylum seekers could be moved there, although these were considerably smaller in scale than what was seen in Epping.

Another protest in Diss in Norfolk on 21 July saw more than 100 people making speeches and waving placards outside the hotel after it emerged the government had switched the hotel from housing families to single male asylum seekers.

South Norfolk Council said it opposed the change and had successfully worked with many of the asylum seekers who had previously been residents.

Protesters waving signs in Epping. (PA)

It is understood the Home Office has now paused the change and is reviewing the decision.

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A fourth wave of protests hit nearby Bowthorpe on 26 and 27 July.

The village that sits on the western side of Norwich saw over 100 people join the anti-immigrant protest over the weekend.

A similarly sized counter-protest was also present.

What sparked the protests?

The protests began when 38-year-old asylum seeker Hadush Gerberslasie Kebatu was charged with sexual assault eight days after arriving in the UK, following an incident where he is alleged to have attempted to kiss a 14-year-old girl.

He denied the charge when he appeared at Chelmsford Magistrates’ Court on Thursday, 17 July.

Following the charge, protesters gathered outside a hotel in Epping, which they claimed houses asylum seekers.

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The protesters claim Kebatu was a resident of the hotel, and days of anti-migrants protests followed.

Dozens of officers have been deployed outside a hotel in Canary Wharf this week. (PA)

Since then, they have spread to other hotels that people believe are housing asylum seekers.

The protests come amid a wider debate over the use of hotels to house asylum seekers, with growing tensions in some towns and cities.

The government has pledged to end the use of hotels to house migrants, but has made little progress since coming to power.

What has the government said?

Top Labour officials have so far avoided commenting directly on the protests, but on 22 July, the deputy prime minister told the cabinet that the government acknowledged people’s “real concerns” about immigration.

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Angela Rayner said that immigration and increasing time spent online are having a “profound impact on society”.

Asked whether Rayner sees a link between immigration and the violence seen during the disorder, No 10 said: “I think she sees a link between concerns that people have about where the government is acting on their behalf and acting in their interests, and a range of factors.

“High levels of immigration over the last 10 years, including illegal immigration, but also, importantly, the cost of living, economic security, the rapid pace of technological change and deindustrialisation and changes in the economy, these are all factors that have had an impact on our social fabric and social cohesion.”

Other MPs have been more vocal in their opinions on the recent protests.

Independent MP Apsana Begum, who represents the east London constituency where the Canary Wharf hotel is situated, said: “In Poplar and Limehouse, we are clear: refugees are welcome here.

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“In the face of relentless demonisation and targeting, we continue to stand with migrants for their rights to safety and dignity.

“It’s the far-right and their hateful ideology that are not welcome here.”

But Reform UK chief whip Lee Anderson said he was “absolutely furious” about the hotel being used to house asylum seekers.

He said most British people could not afford to stay the weekend in the hotel and questioned if it was a good use of taxpayer money. He said: “500 rooms here. What are we playing at?”

Watch: Hundreds demonstrate in protest-hit UK town

Source: Uk.news.yahoo.com | View original article

Source: https://www.yahoo.com/news/articles/middle-eastern-business-headlines-6-040000013.html

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