News

Bloomberg Apple Inc. said its next major new hardware product, the HomePod speaker, is being delayed until early next year, missing the key holiday shopping season. “We can’t wait for people to experience HomePod, Apple’s breakthrough wireless speaker for the home, but we need a little more time before it’s ready for our customers,” Apple spokeswoman Trudy Muller said. “We’ll ...

Bloomberg Stitch Fix Inc. initially soared before sinking back near its offer price in a downsized $120 million initial public offering that fell about a third short of its target. The online personal-styling service backed by Benchmark jumped almost 24 percent in its trading debut. After then dropping as much as 1.3 percent below the $15 offer price, the shares ...

Bloomberg Nearly two-thirds of the US vehicles containing defective air bag inflators made by Takata Corp. remain unrepaired as automakers have made varying degrees of progress addressing the largest auto recall in US history. As of mid-September, 20 million vehicles containing defective Takata air bag inflators still haven’t been fixed, 64 percent of the 31.5 million vehicles containing the defective ...

Bloomberg SoftBank Group Corp. plans to invest as much as $25 billion in Saudi Arabia over the next three to four years as the Japanese company run by Masayoshi Son deepens investment ties with the kingdom, according to people familiar with the matter. SoftBank aims to deploy up to $15 billion in a new city called Neom that Crown Prince ...

DUBAI / WAM The Dubai-based airline, flydubai, on Wednesday announced its commitment to a $27 billion order for 225 Boeing 737 MAX aircraft, to support the growth of its fleet. This is the third order placed by the airline with Boeing in its eight-year history, following those in 2008 and 2013. The new aircraft order will support its continued expansion ...

Bloomberg OPEC and allied oil producers should extend their production cuts beyond March to help re-balance the market, the United Arab Emirates said, adding weight to a gathering consensus for longer reductions in output among participants in the global accord. The UAE favours maintaining the cuts, which are set to expire at the end of the first quarter, Minister of ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (ADNOC) announced plans to launch Umm Lulu Crude Oil, a new crude blend produced from its Umm Lulu and SARB fields, operated by ADNOC Offshore. Umm Lulu Crude Oil, which has an expected API density of around 39 degrees and sulphur content of around 0.7 percent weight percent, is a ...

DUBAI / Emirates Business Union Insurance Company, a leading provider of innovative customer-focussed insurance solut- ions to individuals and corporations in the region, has reported a net profit of as much as AED6.3 million for the first nine months ended on September 30 compared to a net loss of AED12.8 million for the same period last year. Gross insurance premium ...

ABU DHABI / WAM The total value of customs fees transferred by the UAE to other GCC countries on goods entering through the UAE’s customs ports has reached AED2.6 billion. This amount was transferred during the first two years, through a direct automatic transfer system for customs fees between GCC countries, from end of October 2015 to the end of ...

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, on Wednesday received Dr Tedros Adhanom Ghebreyesus, Director-General of the World Health Organisation (WHO). His Highness Sheikh Mohamed bin Zayed and the WHO official discussed cooperation between the UAE and the organisation as part ...