Bloomberg Credit Suisse is planning to cut more than 10% of its European investment bankers this year, adding to hundreds of job losses in London and Zurich, the Financial Times newspaper reported. The bank has been reducing headcount across its divisions after announcing plans to reduce 9,000 roles globally by 2025 last year. The further cuts come after the ...

  Bloomberg Bangladesh’s central bank raised the benchmark rate by 25 basis points to contain inflation that’s hovering near the highest level in a decade. The benchmark repurchase rate was increased to 6% from 5.75% effective from Monday, Bangladesh Bank said in a statement on Sunday. The reverse repo rate will climb to 4.25%, it said. The central bank said ...

  Bloomberg Apple Inc is planning to start using its own custom displays in mobile devices as early as 2024, an effort to reduce its reliance on technology partners like Samsung and LG and bring more components in-house. The company aims to begin by swapping out the display in the highest-end Apple Watches by the end of next year, according ...

  Bloomberg India’s oldest conglomerate, Tata Group, is planning to set up electric vehicle cell-manufacturing operations in Europe as it tries to accelerate its British marque unit’s shift to battery-powered cars. Jaguar Land Rover (JLR) and Tata Motors will be the anchor customers for the facility, which will also sell battery cells to the wider market, Tata Motors Chief Financial ...

  Bloomberg Intel Corp released chips with its delayed server design that are key to regaining control of one of the most lucrative markets in computing. Xeon processors based on the new Sapphire Rapids design are already in cloud-computing systems run by Alphabet Inc.’s Google and Amazon.com Inc.’s Amazon Web Services and are going on general sale in machines offered ...

Bloomberg Another veteran executive is leaving Amazon.com Inc.’s video game division, which has struggled to produce big hits since it launched a decade ago. John Smedley, who has three decades of experience in the industry and ran Amazon Game Studios office in San Diego for six years, told staff that he’s stepping aside. Smedley joined Amazon in 2017 and worked ...

  Dubai / WAM The Rashid Rover has successfully completed one month in space, travelling close to 1.34 million kilometers, the Mohammed Bin Rashid Space Centre (MBRSC) announced. The first Arab-built lunar rover designed and built in the UAE by a 100 percent Emirati team of engineers, experts, and researchers, lifted off on December 11, 2022 from Cape Canaveral Space ...

  Bloomberg Oil headed for a weekly gain, rebounding from a weak start to the year, on China’s improving demand outlook and cooling US inflation. West Texas Intermediate was steady near $79 a barrel, after advancing more than 6% this week. The Brent benchmark is poised for its strongest week since October. China is ramping up purchases of crude after ...

Abu Dhabi / WAM HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, has participated via teleconferencing in the Voice of Global South Summit, which is being hosted by India as part of its Presidency of the Group of Twenty (G20), and the UAE being invited to participate as a guest country in the upcoming ...

Abu Dhabi / WAM The UAE and the Islamic Republic of Pakistan affirmed their keenness to intensify consultations and coordination in order to strengthen their strategic partnership, with a view to developing tangible and meaningful bilateral cooperation in key areas. This came in a joint statement which the two countries issued on the occasion of the visit of Prime Minister ...