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ABU DHABI / WAM Etihad Airways has transported five million passengers to and from China since the launch of its first flights to Beijing 11 years ago, reflecting the importance of the UAE as a strategic partner in the Belt and the Road Initiative. In a statement to the Emirates News Agency (WAM), Etihad Airways noted that it currently operates ...

Bloomberg Taiwan Semiconductor Manufacturing Co (TSMC) projected current-quarter revenue ahead of estimates, as the Apple supplier shrugs off a smartphone slump and US sanctions on Huawei Technologies Co to ride demand for cutting-edge chips. The world’s largest contract chipmaker expects sales of $9.1 billion to $9.2 billion in the September quarter, ahead of average projections for about $8.9 billion. The ...

Bloomberg SAIC Motor Corp expects annual sales to fall for the first time in at least 14 years as China’s biggest automaker battles through a slump in demand roiling the world’s largest car market, according to people familiar with the matter. The Shanghai-based company, Volkswagen AG and General Motors Co’s biggest auto-making partner in China, projects 2019 sales will fall ...

Bloomberg The European Union said it may deem certain 5G suppliers a security risk, noting that Chinese law requires domestic companies to collaborate with intelligence agencies. The EU won’t target China’s Huawei Technologies Co “from the outset,” Security Commissioner Julian King told reporters. But he noted that Chinese national intelligence law “puts certain quite broad requirements on organisations or citizens ...

Bloomberg YouTube reached a settlement with the US Federal Trade Commission (FTC) resolving allegations that the company violated rules about collecting data on and advertising to children, according to a person familiar with the matter. The FTC’s five-member commission voted to approve the settlement, said the person, who declined to be identified because the matter is confidential. Details of the ...

Bloomberg Google agreed to pay $11 million to end a lawsuit accusing the internet giant of discriminating against older job applicants, a deal that amounts to an average payout of more than $35,000 for 227 people who joined the class action. The settlement also calls for the Alphabet Inc unit to train employees and managers about age bias, to create ...

Bloomberg Iran’s Revolutionary Guard Corps is holding a British oil tanker, after seizing it in the Strait of Hormuz amid soaring tensions in one of the world’s critical energy chokepoints. UK officials demanded the immediate release of the vessel. Iran’s state-run Islamic Republic News Agency (IRNA) said the UK-flagged Stena Impero crashed into a fishing vessel and had been taken ...

ABU DHABI / WAM Mohammed Saif Al Suwaidi, Director-General of Abu Dhabi Fund for Development (ADFD) met a high-level Gambian delegation to the UAE, led by President Adama Barrow of Gambia, to discuss development funding and investment opportunities in the African country. Delegates included several Gambian ministers and government officials. The meeting also drew the participation of Fansu Bojang, Ambassador ...

Dubai / Emirates Business The Commercial Bank of Dubai (CBD) recorded a net profit of AED 701 million for the first half of 2019, representing an increase of 25 percent over the same period last year. The strong results have been attributed to broad based business improvement. The operating expenses increased marginally by 1.1 percent primarily on the back of ...

ABU DHABI / WAM First Abu Dhabi Bank (FAB) reported a record half year net profit of AED6.3 billion, up 4 percent year-on-year, driven by revenue growth, coupled with continued cost control and prudent risk management. According to its financial results for the first half ended on June 30, FAB delivered a solid financial performance in the first half of ...