Bloomberg Foreign demand for a slice of Taiwan’s increasingly profitable companies is threatening to upend the central bank’s decades-old currency management policy. Central bank board member Chang Chien-yi told Bloomberg in a rare interview that the institution won’t be able to fight currency appreciation if the Taiwan dollar rises on economic fundamentals as the competitiveness of local industries improves. “The ...

Bloomberg Samantha Proyrungtong, co-owner of an artisan food shop in downtown Bangkok, keeps three phones and a laptop glued to Facebook and Softbank Group-backed Line Corp.’s social-media app throughout the workday. She needs them not to hear from friends and relatives but to get orders from customers since her shop, Vivin Grocery, relies on chat applications for a big part ...

Bloomberg Argo AI, the self-driving startup backed by Ford Motor Co and Volkswagen AG, has developed a sensor it believes will be key to commercialising autonomous transportation in cities, suburbs and on the highway. The Pittsburgh-based company, which plans to go public as soon as this year, unveiled a lidar sensor capable of “seeing” 400 meters (437 yards) down the ...

Bloomberg A company that’s barely known in the US and Europe is the most successful online music platform in Africa — making it target number one in Spotify’s campaign to dominate the continent’s streaming market. Audiomack Inc. won the hearts of many Africans by allowing those without a premium subscription to download songs and listen offline. The feature lets customers ...

Bloomberg The next-generation display destined to be a highlight of Apple Inc.’s upcoming top-tier iPad Pro is facing production issues that could lead to short initial supplies of the new device, according to people familiar with the matter. The Cupertino, California-based tech giant plans to showcase a new MiniLED display technology in the 12.9-inch iPad Pro set to be announced ...

Dubai / Emirates Business Dubai Airport Freezone Authority (Dafza) has announced that its foreign non-oil trade reached more than AED119 billion in 2020. The free zone contributed 10% to Dubai’s non-oil foreign trade and 25% to the total trade in free zones in the emirate of Dubai. This affirms the free zone’s capability in overcoming the challenges and consequences of ...

Abu Dhabi / WAM The central bank of the UAE (CBUAE) has announced that it has been working with SWIFT on an initiative to further enhance the speed and transparency of cross-border payments. The CBUAE will be the first central bank globally to implement such an initiative. The integration between the CBUAE’s domestic UAE Funds Transfer System (UAEFTS) and SWIFT’s ...

Abu Dhabi / WAM The UAE on Wednesday sent a plane carrying 50 metric tons of food supplies to the Republic of Mali as part of its initiatives during the Holy Month of Ramadan. “The UAE always seeks to provide all possible support to all brotherly and friendly countries in circumstances that require international solidarity and cooperation, especially during the ...

Bloomberg India’s central bank announced new loan-relief measures for small businesses and pledged to inject 500 billion rupees ($6.8 billion) of liquidity to support the economy against a second deadly coronavirus wave. Some businesses will be eligible for loan restructuring to give them more time to repay debt and keep them going through the pandemic, Reserve Bank of India Governor ...

ABU DHABI / WAM The central bank of the UAE (CBUAE) has announced that it has been working with SWIFT on an initiative to further enhance the speed and transparency of cross-border payments. The CBUAE will be the first central bank globally to implement such an initiative. The integration between the CBUAE’s domestic UAE Funds Transfer System (UAEFTS) and SWIFT’s ...