Bloomberg Mercedes-Benz Group AG will join China’s Contemporary Amperex Technology Co Ltd (CATL) in building a battery factory in Hungary with an investment of as much as 7.3 billion euros ($7.6 billion), with some of Europe’s leading automakers set to become customers too. The plant will have capacity of 100 gigawatt hours, enough to power more than 1 million cars, ...

  Bloomberg Snap Inc is introducing tools for parents or trusted adults to better supervise teen behaviour on its popular disappearing photo and video app, Snapchat. The new tool, called Family Center, lets parents or designated adults over the age of 25 to view their teen’s friends, see who they’ve messaged in the past week and anonymously report abusive accounts. ...

Bloomberg Electric vehicles sales in China are forecast to hit a record 6 million this year as demand for cleaner cars surges. The China Passenger Car Association (CPCA) raised its estimate from 5.5 million, after releasing data showing deliveries of new-energy vehicles more than doubled in July to around 486,000 units — accounting for 26.7% of the new auto market. ...

  Bloomberg Apple Inc MacBook assembler Quanta Computer Inc said its Shanghai campus recovered from Covid-related disruptions more slowly than expected, halving its profit. Net income for the second quarter came in at NT$3.96 billion, down 50% and below the average estimate of NT$4.3 billion. Sales totalled NT$270.5 billion, versus average analyst estimate of NT$258.4 billion. Quanta announced in April ...

  Abu Dhabi / WAM The total value of the emirate of Abu Dhabi’s non-oil foreign trade amounted to about AED124 billion during first half of 2022, compared to AED110 billion and 313 million, with a growth rate of 12%, recorded in the same period of 2020. Exports during the first six months of this year increased to 26%, at ...

  MOGADISHU / WAM An Emirati aid ship carrying more than 1,000 tonnes of various food and relief supplies has arrived at Mogadishu port in Somalia to meet the needs of approximately 2.5 million people affected by drought. This initiative comes as part of the directives of President His Highness Sheikh Mohamed bin Zayed Al Nahyan to provide all forms ...

  Dubai / Gulf Time Emaar Properties (Emaar), announced good growth in first half profitability, underpinned by robust property sales and growth in the performance of recurring revenue businesses. This performance is testament to the continued confidence in Emaar’s brand and overall post-pandemic recovery of Dubai’s economy, led by the real estate market. Led by robust performance of its core ...

  Abu Dhabi / WAM As part of its efforts to enhance the innovation and entrepreneurship ecosystem in the emirate, the Competitiveness Office of Abu Dhabi (COAD), part of the Abu Dhabi Department of Economic Development (Added), has officially launched the “Abu Dhabi innovation incubators programme” to support individuals wishing to turn their ideas into innovative commercial opportunities that, in ...

  Dubai / WAM A total of 2,433 real estate transactions worth AED9.7 billion ($2.64 billion) were conducted during the week ending August 12, according to figures released by Dubai Land Department. A total of 326 plots were sold for AED1.64 billion, while 1,567 apartments and villas were purchased for AED3.12 billion. The top three transactions were a land plot ...

VICTORIA / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan discussed with Wavel Ramkalawan, President of the Republic of Seychelles, the various aspects of bilateral relations and the means to strengthen and develop them in light of the development priorities of the two friendly countries, especially in trade, investment, tourism, and other sectors. This was stated during a ...