Bloomberg Switzerland’s central bank said it will continue with its policy of foreign-exchange interventions while seeking dialog with the US after the Biden administration dropped the country from its list of currency manipulators. The Treasury Department said that although the Swiss fulfilled the criteria for the manipulator label, there was “insufficient evidence” of the country trying to gain an unfair ...

Bloomberg The European Union (EU) is poised to ban artificial intelligence systems used for mass surveillance or for ranking social behaviour, while companies developing AI could face fines as high as 4% of global revenue if they fail to comply with new rules governing the software applications. The rules are part of legislation set to be proposed by the European ...

Bloomberg Taiwan Semiconductor Manufacturing Co., the world’s largest contract chipmaker, warned for the first time that trade tensions may disrupt its access to key production equipment and hit its operations, amid increasing friction between the US and China. The company, which produces semiconductors for Apple Inc. and other major global tech companies, said in its annual report that “ongoing trade ...

Bloomberg Apple Inc has been a laggard in the smart-home space, but a versatile new device in early development could change that. The company is working on a product that would combine an Apple TV set-top box with a HomePod speaker and include a camera for video conferencing via a connected TV and other smart-home functions. The device’s other capabilities ...

Bloomberg Zhejiang Geely Holding Group Co. is considering raising about $1 billion to help expand its iconic British sports and racing automotive business Lotus Cars into the electric vehicles market in China. Geely is working with advisers to sound out potential investor interest in a funding round that could value Lotus’s EV operations at about $5 billion, the people said. ...

Bloomberg Microsoft Corp. is buying speech-recognition pioneer Nuance Communications Inc. in an all-cash deal valued at $19.6 billion, gaining artificial-intelligence technology aimed at helping doctors predict patients’ needs and upgrading hospitals’ digital record-keeping. The software giant is offering to purchase Nuance at $56 a share, ccording to a statement, which confirmed an earlier Bloomberg report. The deal marks Microsoft’s largest ...

Bloomberg Oil advanced for a third day after the International Energy Agency (IEA) lifted its forecasts for demand and an industry report pointed to another decline in US crude stockpiles. Futures rise 1.6% in New York and are heading for the longest run of gains in over a month. The International Energy Agency lifted its forecasts for oil consumption this ...

Abu Dhabi / WAM Ataya, since its launch in 2012, has become a hallmark in the field of social and humanitarian work in the UAE and the world, making tangible differences in the lives of many. Now in its 10th year, Ataya, meaning ‘giving’ in Arabic, will be held as an online shopping destination during the Holy Month of Ramadan ...

Abu Dhabi / WAM The Abu Dhabi School of Government (ADSG) and the Civil Service College of Singapore (CSC), the agency specialised for training, learning, and staff development of the country’s public sector, signed a Memorandum of Understanding, fostering an ongoing exchange of knowledge in the fields of public sector leadership, governance, public administration and management. The CSC is the ...

Sharjah / WAM The Big Heart Foundation (TBHF), a UAE-based global humanitarian charity dedicated to helping refugees and people in need worldwide, has called on citizens around the world to generously support its 2021 “Zakat” and general donations drive during Ramadan. These fundraising activities under the “Let’s Lessen the Gap” campaign are part of a comprehensive long-term programme that TBHF ...