Emirates Business The Global Manufacturing and Industrialisation Summit (GMIS) — the pioneering cross-industry forum that aims to unify the world in shaping the future of manufacturing — announced that Russia has secured the rights to host its second edition in 2019 in the city of Yekaterinburg. The announcement was made by the President of the Russian Fedration, Vladimir Putin, during …

Bloomberg OPEC and its allies are likely to gradually revive oil output in the second half of the year to ease consumer anxiety as prices trade near $80 a barrel, said Saudi Energy Minister Khalid Al-Falih. The Saudi comments, echoed by Russia, mark a major shift in the historic alliance they forged in 2016 to end a global oil glut. …

Bloomberg Exxon Mobil Corp. plans to reduce the amount of natural gas it burns as waste by a quarter within two years to reduce climate-changing emissions, something long demanded by environmental groups and activist investors. Efforts will be focussed on oil wells off the coast of West Africa, Exxon said in a statement. In that region and others, gas produced …

Bloomberg Generators that provide capacity to the largest US power grid are going to get paid a lot more for guaranteeing electricity when the market needs it.Suppliers to PJM Intercon nection LLC — which serves more than 65 million people from Chicago to Washington — will receive $140 a megawatt-day for the year starting in June 2021, up 83% from …

Bloomberg JPMorgan Chase & Co. is expanding its oil and gas group with two hires from Morgan Stanley. Jonathan Cox is joining the New York bank as global co-head of oil and gas investment banking and co-head of its Houston office, according to an internal memo obtained by Bloomberg and confirmed by a spokeswoman. Michael Johnson is joining as a …

Bloomberg Boeing Co.-backed startup Zunum Aero plans to deliver its first hybrid-electric plane in 2022 to JetSuite Inc., setting the stage for a new era in regional flying. JetSuite, a small charter airline with plans to expand a commercial operation nationally, eventually will receive as many as 100 aircraft that seat up to 12 passengers each, Zunum co-founder Matt Knapp …

Bloomberg Apple Inc. manufacturing partner Taiwan Semiconductor Manufacturing Co. has started mass production of next-generation processors for new iPhones launching later this year, according to people familiar with the matter. The processor, likely to be called the A12 chip, will use a 7-nanometer design that can be smaller, faster and more efficient than the 10-nanometer chips in current Apple devices …

Bloomberg Uber Technologies Inc. will open its first research and development centre outside of the US, and has chosen Paris as its home. The ride-hailing company will invest $23.5 million over the next five years in the lab, which will focus on technologies to support the development of Uber’s flying-car initiative, dubbed Uber Elevate, it said. “With world-class engineers and …

Bloomberg Apple Inc. and Volkswagen AG struck a deal late last year that let the technology giant equip VW vans with self-driving technology to transport Apple employees between offices within the next year, according to a person familiar with the matter. The agreement is part of an internal Apple programme called Project Titan that started in 2015 as an ambitious …

Bloomberg Amazon.com Inc. drew the ire of the American Civil Liberties Union (ACLU) over a facial-recognition system offered to law-enforcement agencies that the advocacy group says can be used to violate civil rights. In marketing materials obtained by the group, Amazon Web Services said its Rekognition system uses artificial intelligence to quickly identify people in photos and videos, enabling law …