Bloomberg Azura, a wealth manager focused on billionaire entrepreneurs, is opening an office in Switzerland. Former Credit Suisse Group AG banker Frederic Turrettini joins the firm as a partner to oversee its Geneva office, adding to existing locations in London, Monaco and Singapore, according to a statement. Azura also recruited Robert Agnew — a former managing director at Barclays Plc’s ...

Bloomberg Deutsche Bank AG will be unable to sponsor initial public offerings (IPOs) in Hong Kong as the German lender failed to replace the staff needed by regulators in one of the world’s biggest markets for share sales. The bank has hired replacements who will start in a matter of weeks and will be able to resume its sponsor roles ...

Bloomberg One Japanese company that got its start making grinding wheels for machinery more than 80 years ago believes it holds the key to helping manufacturers create ever slimmer and more powerful semiconductors to power next-generation mobile phones and advanced computers. Disco Corp’s machines can grind a silicon wafer down to a near-transparent thinness and cut the tip of a ...

Bloomberg Tesla Inc delivered 201,250 cars worldwide in the second quarter, a record for the electric-car maker led by Chief Executive Officer Elon Musk. While the company doesn’t break out sales by region, business appeared healthy in China. The bulk of the period’s sales were of the Model 3 sedan and the Model Y crossover, which are produced in Shanghai ...

Bloomberg India is growing increasingly assertive in its efforts to control online communications, challenging Twitter and Facebook’s practices and threatening to set a precedent that could extend far beyond its borders. The largest US internet firms are fighting new Intermediary rules issued by Narendra Modi’s government in February that they say curtail privacy and free speech. Officials have demanded Facebook ...

Bloomberg Renault SA aims to cut the cost of its batteries by 60% over the next decade as the French carmaker ramps up production of electric vehicles in Europe. Renault also plans to lower the costs of its electric motors by 30%, make them more compact and extend their range, the company said in a statement. “The Renault brand aims ...

ABU DHABI / WAM In yet another global milestone, Etisalat on Wednesday announced its foray into the next generation of the mobile network with considerable efforts towards 6G realisation, conducting research and developing international standards, the main building blocks for the 6G ecosystem. Haitham Abdulazzak, Chief Technology Officer at Etisalat, shared these insights during his address at the session titled ...

Geneva / WAM The impact of the Covid-19 pandemic on tourism could result in a more than $4 trillion loss to the global economy, UN trade and development body UNCTAD said on Wednesday in a report issued jointly with the UN World Tourism Organisation (UNWTO). The estimate is based on losses caused by the pandemic’s direct impact on tourism and ...

Dubai / WAM The Emirates Mars Mission (EMM), the first interplanetary exploration undertaken by an Arab nation, on Wednesday released the first global images of Mars in the far-ultraviolet, providing new insights into the discrete aurora phenomenon in Mars’ nightside atmosphere. The images have revolutionary implications for our understanding of the interactions between solar radiation, Mars’ magnetic fields and the ...

ABU DHABI / WAM Israel-UAE bilateral trade has reached over AED2.48 billion ($675.22 million), within ten months of signing the Abraham Accords in September 2020, according to Israel’s top diplomat. In an exclusive interview with Emirates News Agency (WAM), Israel’s Foreign Minister Yair Lapid said, “It is estimated that the bilateral trade potential will multiply many times over in the ...