Bloomberg Intel Corp Chief Executive Officer Pat Gelsinger said the worst of a sales slump has passed and struck a bullish tone about the chipmaker’s prospects for the rest of the year and beyond. Investors are waiting to see proof that the company can regain dominance in semiconductor industry. The key to winning them over will be Gelsinger’s ability to ...

Bloomberg Tesla Inc has sought lower taxes on import of electric vehicles in India, people with the knowledge of the matter said, as it looks to commence operations in Asia’s third-largest economy. The California-based maker of electric vehicles has written to the transport and industry ministries for reducing import duty on electric cars to 40% from the current range of ...

Bloomberg Chinese regulators are set to order Tencent Holdings Ltd. to give up exclusive rights to music labels, Reuters reported. The company will also receive a 500,000 yuan ($77,227) fine for misreporting the acquisition of two apps, according to the report. The penalties are the result of an investigation by the State Administration of Market Regulation into affiliate Tencent Music ...

WASHINGTON / WAM Concluding a weeklong visit to Washington, DC, Dr Anwar Gargash, Diplomatic Advisor to the President His Highness Sheikh Khalifa bin Zayed Al Nahyan, called the UAE-US relationship as strong as it has ever been and noted that the US is the UAE’s “most important and enduring strategic partner”. During his visit, Dr Gargash met with senior Biden ...

Manama / Emirates Business Trade between the UAE and Bahrain has seen a significant rebound since the pandemic with non-oil bilateral trade between the countries increasing by 75% year-on-year in Q2 2021. UAE-Bahrain trade reached $672 million in the second quarter of this year, accounting for around 40% of Bahrain’s GCC trade, according to the latest figures released by Bahrain’s ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, exchanged through a telephone call Eid al-Adha greetings with His Majesty Sultan Haitham bin Tariq bin Taimur Al Said of Oman. HH Sheikh Mohamed bin Zayed conveyed to the Sultan of Oman the greetings ...

Dubai / WAM Over the past years, the UAE has succeeded in becoming one of the world’s most successful countries in attracting foreign investment due to a range of factors and incentives that earned it its status as a preferred destination for investors. The UAE boasts a vibrant and prosperous business environment that excels at attracting foreign direct investment (FDI), ...

Bloomberg Dubai’s Al Khaleej Sugar Co, owner of the world’s largest port-based sugar refinery, received the green light to build a factory in Spain, extending its reach beyond the Middle East and North Africa. The company plans to start construction of the plant in Merida next year, said Managing Director Jamal Al Ghurair. The agreement between its subsidiary Iberica Sugar ...

Abu Dhabi / WAM Etihad Airways, the UAE national airline, on Sunday launched its inaugural flight to Vienna, the first of a new twice-weekly service between Abu Dhabi and the Austrian capital. Flight EY147 departed Abu Dhabi International Airport at 7.30 am on Sunday. The new service will be operated on Thursdays and Sundays using Boeing 787-9 Dreamliner aircraft, offering ...

DUBAI / WAM As tickets to Expo 2020 Dubai are now on sale, among the plethora of reasons to book a Season Pass for the world’s biggest cultural gathering is a once-in-a-lifetime opportunity to be part of the historic, invite-only opening ceremony. All UAE residents aged 18 and above who purchase an Expo 2020 Season Pass or Family Package before ...