BLOOMBERG  China took steps to slow a decline in the yuan for a fourth time, as its weakness intensified on souring sentiment towards the world’s second-largest economy. The central bank set its so-called fixing for the managed currency at a stronger-than-expected level, after the offshore yuan extended a seven-month low. The move came after reports that regulators have stepped up ...

DUBAI / WAM Dubai Customs has assisted Japanese customs authorities in intercepting a significant quantity of illicit drugs. Up to 700 kilogrammes of “methamphetamine” powder, valued at approximately $310 million, were concealed within a cargo ship originating from an Asian country and bound for Japan. The successful operation led to the apprehension of both the cargo ship and the illegal ...

VIENNA / WAM Over the last 54 years, the Opec International Seminar constitutes one of the most major events in the international energy calendar in reshaping the future of the global energy industry and its fair transition towards sustainability and addressing consequences of climate change. The Emirates News Agency (WAM) has signed an agreement with the Organisation of the Petroleum ...

DUBAI / WAM As part of Dubai Electricity and Water Authority’s (Dewa) Space-D programme, Dewa’s (R&D) Centre has developed an in-house, versatile gateway that can connect terrestrial sensors to satellites and ground networks. The gateway has various physical, operational technology (OT) connectivity and IoT edge protocol libraries to support the latest IoT communication network, including LoRa, Wi-Fi and BLE. The ...

DUBAI / WAM The Roads and Transport Authority (RTA) has awarded a contract for Garn Al Sabkha Street Sheikh Mohamed Bin Zayed Road Intersection Improvement Project. The scope of the project covers the construction of four bridges, spanning 3000 metres capable of carrying 17,600 vehicles per hour. The project has an AED374 million budget. The project comes in response to ...

GENEVA / WAM Mohamed Al Hammadi, President of Jusoor International for Media and Development, has affirmed the need to achieve climate justice globally, especially with the adverse shifts that human life continues to experience due to climate change. Speaking at the 53rd Regular Session of the United Nations Human Rights Council (UNHRC), he expressed his confidence that the 28th Conference ...

BLOOMBERG  Audi’s new boss faces a number of pressing issues to fix the premium brand, after years of missteps left Volkswagen AG’s cash cow with a stale model lineup and behind in the shift to electric cars. Gernot Döllner, a 54-year-old VW veteran who wrote his dissertation on speeding up product development, has little time to waste to ensure the ...

BLOOMBERG  Apple Inc made Wall Street history as the first company with a market value over $3 trillion, the latest sign of big tech’s seemingly unstoppable dominance in equity markets. The iPhonemaker gained 2.3%, adding to a rally that’s added more than $983 billion to its size this year and leaving it roughly a half-trillion dollars above the next-largest company. ...

BLOOMBERG Twitter is imposing a temporary cap on the number of tweets that accounts can see each day, a move that sparked backlash from some users. Twitter owner Elon Musk tweeted that unverified users will be able to view as many as 600 posts daily while Twitter Blue subscribers can see 6,000 posts “to address extreme levels of data scraping” ...

BLOOMBERG Rishi Sunak is considering scrapping an environmental law dating back to UK membership of the European Union (EU), as his government faces pressure to build more houses while fending off a voter backlash on pollution. The prime minister’s team is looking at using his flagship regeneration bill to override a 2018 ruling that effectively bans housebuilding in areas where ...