News

Bloomberg US restrictions on China’s telecom giant Huawei threatens to snuff out a nascent recovery in semiconductor demand, a key driver of economic growth in technology powerhouses including South Korea and Taiwan. China dominates purchases from Asian semiconductor exporters and bought 51 percent of their exports in 2017, according to analysis by Citigroup Inc economists Jin-Wook Kim and Johanna Chua. ...

Bloomberg Oil companies, automakers and consumer products manufacturers will unleash a campaign for a US tax on carbon dioxide emissions even though it may lead to higher prices for their products. Oil companies BP Plc and Royal Dutch Shell Plc are giving $1 million each to the Americans for Carbon Dividends advocacy campaign, underwriting its efforts to persuade Congress to ...

Bloomberg T-Mobile US Inc. suffered a significant setback in its bid for regulatory approval of its takeover of Sprint Corp. after failing to win over the US Justice Department with a remedy package, putting pressure on the companies to offer more concessions. The wireless carriers could try to sell additional assets to resolve the department’s concerns that the deal would ...

Bloomberg Tesla Inc.’s stock rout following this month’s $2.4 billion capital raise intensified after a once-bullish analyst called the range of issues facing the electric-car maker a “code red situation.” The shares have dropped in nine of the last 10 trading days, a stretch that started the day Tesla closed offerings of new stock and convertible bonds to shore up ...

ABU DHABI / WAM Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance, said that the UAE’s social cohesion has made it an international model of cultural dive- rsity, as over 200 nationalities live together in the country. In a statement marking World Day for Cultural Diversity for Dialogue and Development celebrated annually on May 21, She- ikh Nahyan said ...

Bloomberg Oil rose after Saudi Arabia and other Opec+ members signalled their intention to keep supplies constrained, while US President Donald Trump ratcheted up tensions with Iran. Futures in New York jumped as much as 1.7%, before paring some of those gains. Saudi Energy Minister Khalid Al-Falih urged members of Opec+ gathered in Jeddah to “stay the course” on output ...

Dubai / Emirates Business Dubai will host 40 global travellers for a ‘one-of-a-kind’ summer extravaganza as part of #BeMyGuest campaign by Dubai’s Department of Tourism & Commerce Marketing (Dubai Tourism). The multi-award-winning programme featured an exclusive social gamification component, inviting Bollywood icon Shah Rukh Khan to help him solve clues around the city in a mysterious, six-part mini-series. With the ...

DUBAI / WAM To promote the values of tolerance and giving, the Telecommunications Regulatory Authority (TRA), launched a series of charitable initiatives during Ramadan, including “A dirham of culture… a kantar of happiness”, “Al Mir Al Ramadani”, and “Iftar with senior citizens”. Speaking about these initiatives, Hamad Obaid Al Mansoori, the TRA Director-General, said, “During the Holy Month of Ramadan, ...

ABU DHABI / WAM Participants at the 10th Zayed Humanitarian Work Forum praised the humanitarian efforts of HH Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union (GWU), President of the Supreme Council for Motherhood and Childhood, and Supreme Chairwoman of the Family Development Foundation. They also praised Sheikha Fatima’s support for various volunteer programmes concerning women and children, ...

ABU DHABI / WAM Emirates Global Aluminium (EGA), on Monday announced the start-up of a new AED15 million pre-treatment and crusher facility for spent pot lining in a step forward for the recycling of industrial waste. Spent pot lining (SPL), the used inner lining of reduction cells in which aluminium is smelted, is one of the most significant waste streams ...