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Bloomberg Apple Inc.’s latest smartphones, the iPhone 8 and iPhone 8 Plus, have more expensive parts, but the company will still make significant profits because it raised prices for the devices, according to research firm IHS Markit. A base model iPhone 8 with a 4.7-inch screen and 64 gigabytes of storage includes material costs of $247.51, up from $237.94 for ...

Bloomberg A week after London moved to revoke Uber Technologies Inc.’s operating license, the company and its electronic ride-hailing competitors are feeling the heat in New York as city officials consider moves to regulate and control the industry. The City Council was considering a six-month study of Uber’s impact on the traditional yellow cab business, where the value of medallions—licenses ...

Bloomberg President Donald Trump said Puerto Rico is in “deep trouble” as devastation brought by Hurricane Maria adds to the crippling debts that have already pushed the US territory into a record-setting bankruptcy. The storm, the worst to batter the island in nearly a century, caused widespread flooding, washed away roads and knocked out power to its 3.4 million residents ...

Bloomberg Hurricanes sometimes don’t need to make landfall to cause problems for US refineries. At least two East Coast refineries are making less gasoline and diesel as rough Atlantic seas hamper the transfer of crude oil from ships to barges for delivery to the facilities, people familiar with operations say. Philadelphia Energy Solutions Inc., which operates the largest oil-refining complex ...

Abu Dhabi / WAM Juma Mohamed Al Kait, Assistant Under-Secretary of the Foreign Trade Sector at the Ministry of Economy, drew attention to UAE-Chinese relations that continue to witness significant developments, especially in the trade and investment sectors, as 60 percent of China’s trade to Africa and Europe passes through the UAE while the value of their trade exchange is ...

ABU DHABI / Reuters The United Arab Emirates’ first nuclear reactor will ‘definitely’ be operational next year with the operating company getting a licence in 2018, the UAE’s energy minister said on Monday. The world’s largest single nuclear project, the Barakah plant will have capacity of 5,600 megawatts (MW) of electricity, with four 1400 MW reactors. Korea Electric Power Corporation ...

DUBAI / Emirates Business The Lifestyle Expo in Dubai is being held to foster business collaboration between Hong Kong, the Chinese mainland and the UAE as well as the rest of the Middle East-Africa (MEA), region, helping companies seize the enormous business opportunities emerging from China’s Belt and Road Initiative and Expo 2020 Dubai. Jointly organised by the Hong Kong ...

DUBAI / WAM Emirates Airlines announced an increase in the frequency of flights between Dubai and Tunis from six to seven a week, starting October 30. The additional Dubai – Tunis flight will be operated every Monday with an Emirates Boeing 777-300ER, to give passengers in Tunis greater access to Emirates’ global route network, particularly destinations in the Middle East, ...

ABU DHABI / WAM The Abu Dhabi Police will begin using some 17 radar devices powered by solar energy on the two roads from Maha Forest to Ashoush, and from Al Sudaira Tunnel to Al Faqa Intersection, beginning September 26. Brigadier Ali Khalfan Al Dhaheri, Director of the Central Operations Sector at the Abu Dhabi Police, said that the use ...

ABU DHABI /WAM Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, on Monday marked a new partnership with Abu Dhabi Islamic Bank (ADIB), a leading financial institution, to seek opportunities to collaborate and consult on initiatives to promote the growth and development of the FinTech ecosystem in Abu Dhabi and the UAE. The Memorandum of Understanding ...