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Tesla’s $25,000 car doesn’t worry biggest rivals in China

Bloomberg Tesla Inc.’s plan to build a $25,000 car within the next three years doesn’t seem to have fazed China’s most-promising electric vehicle startups, with executives at the Beijing Auto Show saying Elon Musk can bring it on. “It’s a good thing for us,” WM Motor Co. founder and Chief Executive Officer Freeman Shen said. “We are very happy Tesla ...

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Netflix bets on mobile content blitz to boost Africa grip

Bloomberg Netflix Inc. became the world’s largest subscription-streaming service by flooding the market with popular content that’s cheaper than the competition. Yet five years after it arrived in Africa, the US company is struggling to grow beyond the wealthiest segment of the population, held back by poverty, piracy and limited access to broadband. In a continent of more than a ...

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Microsoft Corp unveils cheaper Surface laptop

Bloomberg Microsoft Corp. unveiled the cheapest-ever model of its Surface laptop, aiming to take a larger share of the lucrative notebook computer market by targeting students and budget shoppers. The Surface Laptop Go, starting at $549, is smaller and lighter than the company’s other notebooks and has a fingerprint scanner to log in. The device comes in three metallic finishes ...

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Amazon ends development of Crucible

Bloomberg Amazon.com Inc. ended development of its first big-budget video game Crucible, highlighting the online retailer’s continued struggle to make headway in the industry. “We didn’t see a healthy, sustainable future ahead of Crucible,” the company said in a blog post. The team working on the project will be moved to other upcoming games and customers will get refunds, it ...

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Abdullah, Israeli foreign minister review prospects of cooperation

Abu Dhabi / WAM In the first meeting between the top diplomats of the two countries, HH Sheikh Abdullah bin Zayed Al Nahyan, UAE Minister of Foreign Affairs and International Cooperation, and Gabi Ashkenazi, Israeli Minister of Foreign Affairs, reviewed the prospects of growing cooperation and bilateral relations in the fields of economy, trade, investment, food security, technology, transport, aviation, ...

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ECI secures AED4bn of non-oil trade in H1 2020

DUBAI / WAM The Etihad Credit Insurance (ECI) announced issuance of over 1,400 revolving credit guarantees covering AED4 billion-worth of non-oil exports from January to June, thereby providing a solid contribution to employment and non-oil economy of the country. To boost national export activity and economic diversification, the ECI has insured non-oil exports to more than 70 countries. The top ...

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ERC provides further aid to flood-stricken Sudan

Abu Dhabi / WAM The Emirates Red Crescent (ERC) provided further humanitarian aid to people affected by the floods in Sudan, as part of its efforts to ease the suffering of the Sudanese people caused by the natural disaster that hit most of the country’s states. Over the last couple of days, the ERC dispatched two new convoys from Khartoum ...

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Idex defence expo to host Israeli pavilion in 2021

ABU DHABI / WAM Idex, the International Defence Exhibition and Conference organised by Abu Dhabi National Exhibition Company (Adnec) announced the signing of a strategic agreement with ISDEF, the largest Israeli Defence, Homeland Security (HLS) and Cyber Expo, and part of the Avnon Group, as the exclusive promoter of Idex to Israeli defence, security, and technology companies. Idex will take ...

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Opec: UAE plays key role to establish understanding among members

ABU DHABI / WAM The Organisation of the Petroleum Exporting Countries (Opec), lauded the role played by the UAE within the organisation, stressing that the country has gained everyone’s respect, as it has helped establish understanding and agreement among Opec members in all matters related to the global oil market. In a report issued by the organisation on the occasion ...

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ERC provides more aid to flood-hit people in Sudan

Abu Dhabi / WAM The Emirates Red Crescent (ERC) provided further humanitarian aid to people affected by the floods in Sudan, as part of its efforts to ease the suffering of the Sudanese people caused by the natural disaster that hit most of the country’s states. Over the last couple of days, the ERC dispatched two new convoys from the ...

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