News

Apple’s lower prices, users’ aging handsets drive iPhone demand

Bloomberg Apple Inc is seeing higher iPhone demand than it expected, thanks to two forces consumers find hard to resist: falling prices and the inevitable aging of older models. Since missing holiday sales targets last year, the company has cut some prices and offered more attractive trade-in deals. The iPhone 11 went on sale at $699 — $50 below the ...

Read More »

Labour nationalisation plan to cost UK $250bn, says CBI

Bloomberg Jeremy Corbyn’s promise to take UK privatised companies back into public ownership if his Labour Party wins power will cost almost $250 billion, according to the Confederation of British Industry (CBI). In an analysis published on Monday, the business lobby said the 196 billion-pound cost of nationalising the energy, water and rail industries, plus the postal service, will push ...

Read More »

Porsche steps up Tesla battle with ‘Taycan’

Bloomberg Porsche is intensifying its battle against Tesla with the unveiling of $116,590 version of the electric Taycan that’s pitched at a similar price point to the top-line version of the US company’s Model S. The entry-level Taycan 4S is available for pre-orders now and will enter showrooms in early January, the Volkswagen AG brand said. The model follows Porsche’s ...

Read More »

Lamborghini review marks step in VW’s march to $220b

Bloomberg Volkswagen AG’s plan to review options for its Lamborghini supercar division marks a further step in Chief Executive Officer Herbert Diess’s campaign to transform the world’s biggest automaker and more than double its market value. The German manufacturer is weighing a potential sale or stock listing for the Italian brand, according to people familiar with the matter, as Diess ...

Read More »

Rogue pension advisers to face jail in Britain

Bloomberg British financial advisers and pension managers face jail and increased fines under proposed legislation announced during the Queen’s Speech to mark the new parliamentary term. Penalties for the most serious offenses will carry a maximum sentence of seven years and a $1.26 million fine, according to a briefing note that accompanied a speech read by the Queen to UK ...

Read More »

UAE calls on Turkey, other forces to pull out of Syria

CAIRO / WAM The United Arab Emirates has called upon Turkey and all other foreign forces to withdraw from Syria and to seek a political solution. The UAE also stated that the minimum action incumbent upon Arab countries is the adoption of a firm response to aggression against any Arab country, which is seen as aggression against the national security ...

Read More »

UAE-Russia non-oil trade hits AED51.79b in 5 years

ABU DHABI / WAM Abdullah Al Saleh, Under-Secretary of the Ministry of Economy for Foreign Trade Affairs, said that the value of non-oil trade between the UAE and Russia over the past five years amounted to $14.1 billion (AED 51.79 billion), while last year’s non-oil trade totalled $3.4 billion, compared to $2.5 billion in 2017, a growth of 36 percent. ...

Read More »

UAE one of Russia’s very close and promising partners: Putin

ABU DHABI / WAM Russian President Vladimir Putin sees the UAE as one of Russia’s very “close and promising partners,” saying that the partnership is “vigorously developing in all areas.” Putin will pay a historic state visit to the UAE on Tuesday. His last visit was in 2007. “It is safe to say that the United Arab Emirates greatly contribute ...

Read More »

Trump says China deal may spur $20bn in Boeing sales

Bloomberg President Donald Trump said the partial US-China trade deal may lead to as much as $20 billion in sales of Boeing Co. airplanes, in addition to spurring billions of dollars in purchases of agricultural goods. “Other aspects of the deal are also great — technology, financial services, 16-20 Billion in Boeing Planes etc,” Trump tweeted without any specifics about ...

Read More »

Dubai Customs launches the World Logistics Passport

Dubai / WAM Dubai Customs on Sunday launched the World Logistics Passport, as part of the first phase of the Dubai Silk Road strategy, to help boost the role of the Dubai Silk Road and expand demand for Dubai’s products, services and integrated transportation systems. The unique initiative will also further augment the growing role played by Dubai Customs in ...

Read More »
Send this to a friend