Bloomberg The crowd of hundreds roared in Mandarin as the gull-winged two-seater aircraft rose and hovered roughly 30 meters (100 feet) above their heads, before smoothly lowering back down to earth. In the past months, China’s Xpeng Aeroht has staged two maiden public flights for its aircraft. The 90-second exercise in October was followed by another in Guangzhou, China ...

  Bloomberg Microsoft Corp. is fighting back against allegations from the US Federal Trade Commission (FTC) that its proposed $69 billion acquisition of Activision Blizzard would harm competition in video-gaming industry. In a filing with the FTC, Microsoft said the tie-up would create more choices for gamers and game developers. “The commission cannot meet its burden of showing that the ...

  Bloomberg Huawei Technologies Co has secured an extension to a patent licensing deal with Nokia Oyj, suggesting the Chinese company continues to lead in networking technology despite years of punishing US sanctions. The announcement indicates appetite for access to Huawei’s next-generation telecom patents remains strong, despite US accusations the Chinese giant poses a threat to national security. Huawei is ...

Bloomberg Stellantis plans to buy a stake in hydrogen company owned by tire-maker Michelin and car-parts supplier Faurecia SE as the automaker tries to bolster its low-emissions offerings. The maker of Fiat and Jeep vehicles will take a “substantial” stake in the Symbio business, with closing of the transaction expected for the first half of 2023, Stellantis said. “This move ...

  Abu Dhabi / Gulf Time Khalifa Economic Zones Abu Dhabi – Kezad group, the integrated trade, logistics, and industrial hub of Abu Dhabi, has signed a lease agreement with Euro Auctions Middle East, a subsidiary of the Euro Auctions Group, to establish its largest auction house in the region for industrial plant, construction equipment and agricultural machinery. Under the ...

  Abu Dhabi / WAM During the Healthcare Protective Shield Wargaming Conference, the Department of Health – Abu Dhabi (DoH), the regulator of the healthcare sector in the emirate, identified different risk scenarios and helped prepare healthcare entities in Abu Dhabi for cyber threats by evaluating effectiveness of entities’ incident response and communication plan with the help of simulated cyber ...

  Bloomberg Oil rises, heading for second weekly gain, as Russia said it may cut crude production in response to the price cap imposed by the Group of Seven on its exports, highlighting risks to global supplies in the New Year. West Texas Intermediate climbed to $79 a barrel, putting it on course for a gain of about 6% for ...

  Abu Dhabi / WAM First Abu Dhabi Bank (FAB) with the support of its affiliate, Magnati, is collaborating with PayRow Net through the Ports Customs and Free Zone Corporation (PCFC) to establish a best-in-class digital payment platform to spur Dubai’s shift towards becoming a cashless economy. The new payment ecosystem is set to transform the existing payment gateway, leading ...

Ajman / WAM Abdullah Al Muwaiji, Chairman of the Board of Directors of Ajman Chamber of Commerce and Industry (ACCI), has affirmed the chamber’s keenness to consolidate its external relations and build strong partnerships to achieve sustainable future growth for the economy of the emirate of Ajman. This came during his meeting, at the chamber’s headquarters, with Faisal Niaz Tirmizi, ...

  Dubai / WAM A total of 2,926 real estate transactions worth over AED9.1 billion were conducted during the week ending December 23, according to figures released by the Dubai Land Department (DLD). The DLD report revealed that 159 plots were sold for AED877.59 million, while 2,233 apartments and villas were purchased for AED5.44 billion. The top three transactions were ...