Clean energy investments in China surged last year, driving more than 90% of the country's investment growth, according to a new analysis by The Guardian. The sector contributed a record 15.4 trillion yuan ($2.1 trillion) to the Chinese economy, making it larger than all but seven world economies and accounting for over a third of China's economic growth.
Meanwhile, in Dubai, the World Governments Summit saw record European participation, with the UAE positioning itself as a neutral hub for global dialogue, Euronews reported. "The world requires a place where, whether it's adversaries, whether it's different geographies, to at least have dialogue," said Omar Al Olama, UAE minister of state for AI. The summit highlighted strengthening ties between Europe and Gulf countries.
In other economic news, India and the United States announced a trade deal, which has received mixed reactions in India, according to Al Jazeera. While details remain vague, the deal offers relief from some of US President Donald Trump's harshest tariffs. Trump stated that India would cease purchasing Russian oil and become more open to US business.
TechCrunch reported on Snap's Q4 earnings, which revealed revenue growth but a slight decrease in daily users. Snap's revenue was $1.7 billion, up 10% year-over-year, with average revenue per user increasing to $3.62 from $3.44. Net income rose to $45 million from $9 million the previous year. The company's subscription service, Snap, saw subscribers grow 71% year-over-year, reaching 24 million. Snap is aiming to diversify its revenue streams beyond advertising, including subscriptions and hardware.
Additionally, Mundi Ventures closed on €750 million for Kembara Fund I, its largest deep tech and climate fund to date, TechCrunch reported. The fund secured a €350 million commitment from the European Investment Fund under the European Tech Champions Initiative in 2024. Kembara co-founder and general partner Yann de Vries noted that raising €750 million in two years as a first fund in the current environment was challenging. The fund may eventually reach a final closing of €1.25 billion.
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