Bloomberg Chinese flexible display maker Royole Corp. is weighing an initial public offering in China while its planned US listing is put on hold, according to people familiar with the matter. Royole had filed confidentially for a US IPO that could raise about $1 billion, Bloomberg News reported earlier this year. However, the startup is now considering a listing in ...

Bloomberg Daimler AG plans to sell its factory in Hambach, France, as the maker of Mercedes-Benz cars pursues deeper-than-expected restructuring to overcome the fallout of the coronavirus pandemic. The move to unload the home of the Smart two-seater will result in a negative one-time effect of roughly $562 million in the second quarter, Daimler said. It doesn’t expect an impact ...

ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has received a telephone call from President Carlos Alvarado Quesada of Costa Rica on the prestigious strategic relations binding the two friendly nations, as well as regional and international issues of mutual interest. President ...

Bloomberg Oil rose for a second day as a bigger-than-expected drop in American crude stockpiles and plunging output from Opec producers outweighed nervousness about a resurgence of coronavirus in the US. Futures held near $40 a barrel in New York after rising 1.4% as the Energy Information Administration (EIA) reported a 7.2 million-barrel decrease in US inventories last week, the ...

Dubai / WAM Terminus Technologies, a China-based leader in smart technologies such as artificial intelligence and robotics has been named Expo 2020 Dubai’s latest Premier Partner and has signed a long-term lease at District 2020 as part of the innovation ecosystem that will evolve after the event. As Expo 2020 Dubai’s Official Robotics Partner, Terminus will deploy more than 150 ...

NEW YORK / WAM Deputy Permanent Representative of the Kingdom of Saudi Arabia to the United Nations Dr Khalid bin Muhammad Manzalawi has affirmed that the Kingdom of Saudi Arabia supports the UAE in its candidacy for non-permanent membership of the UN Security Council (UNSC) for the period 2022-2023, urging countries to support its candidacy. In his speech during the ...

Abu Dhabi / WAM The Ministry of Economy has said that the UAE is among the most active countries in the Middle East and North Africa in providing financial and cash incentives to support its markets, banks and economic activities in recent months. In its study, the ministry explained that the incentives and measures launched by the country have been ...

Abu Dhabi / WAM The Abu Dhabi Department of Economic Development (Added), announced that it is implementing the micro, small and medium-sized enterprises (mSME) coalition project in cooperation with more than 40 federal and local government and semi-government entities as well as the private sector. The initiative has been designed to create a tightly knit system that supports these companies ...

ABU DHABI / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, held a video call with Nikola Dimitrov, Minister of Foreign Affairs for North Macedonia, in which they discussed a number of issues of common concern, including new avenues for cooperation and efforts to contain Covid-19. The ministers noted the friendly ties ...

Dubai / WAM UAE-Russia food trade has increased steadily in recent years due to cooperation on food security and Moscow’s efforts to diversify exports. Yet, a Dubai Chamber of Commerce and Industry webinar revealed that much potential still remains in both traditional categories and niche markets. The webinar, titled ”Russia-UAE Food Trade in the Post-Covid-19 Era”, attracted 131 participants from ...