Bloomberg Huawei Technologies Co. took the wraps off a high-end foldable smartphone to try and stake out a place in the fast-expanding category, revealing that revenue and profit barely grew in 2020 at the height of Trump-era sanctions. China’s largest technology company is trying to keep its shrinking mobile gadgets business alive despite dwindling expectations that Washington will roll back ...

Bloomberg The global semiconductor shortage will slash earnings at General Motors Co. and Ford Motor Co. by about one-third this year as supply constraints hamper production and profits, Moody’s Investor Service estimates. The chip shortage will materially erode margins and could lower expected earnings before interest and taxes by as much as $2 billion for GM and $2.5 billion for ...

Bloomberg Apple Inc. is working on a magnetically attached battery pack for the newest iPhones, an accessory that would wirelessly charge the handset and provide the company with another potentially lucrative add-on product. Apple has been developing the attachment for at least a year and it has been scheduled to launch in the months following the release of the iPhone ...

ABU DHABI / WAM The fourth day of the International Defence Exhibition (Idex) and the Naval Defence Exhibition (Navdex) 2021 has seen the UAE Armed Forces sign 24 new deals, worth AED2.140 billion, with local and international companies. The cumulative value of deals signed at Idex, Navdex is now AED20.053 billion. Staff Brigadier-General Mohammed Al Hassani, Official Spokesperson of the ...

ABU DHABI / WAM The volume of non-oil trade exchange between the Emirate of Abu Dhabi and the State of Kuwait through the emirate’s ports reached AED51.3 billion during the past five years, through more than 78,000 customs transactions, which reflects the growing economic relations between the two brotherly countries, according to the General Administration of Abu Dhabi Customs. Abu ...

DUBAI / WAM The UAE has topped the Middle East and North Africa region rankings in the World Bank’s newly released 2021 ‘Women, Business and the Law’ (WBL) report. The country’s ratings in the World Bank report saw a significant leap by virtue of ground-breaking legislative reforms implemented over the past few years. HH Sheikha Manal bint Mohammed bin Rashid ...

ABU DHABI / WAM The UAE General Civil Aviation Authority (GCAA) said it is closely working with the US Federal Aviation Administration and monitoring the current situation for any updates on the Boeing 777 aircraft fitted with engine PW4000. This follows an incident where a United Airlines 777-200 aircraft was forced to make an emergency landing at Denver International Airport ...

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 issued a resolution appointing Tawazun Economic Council (Tawazun) to manage the procurements and contracts of the UAE Armed Forces and Abu Dhabi Police. The resolution also mandates Tawazun to enforce the execution of ...

ABU DHABI / WAM The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) has announced that the next edition of Culture Summit Abu Dhabi will take place virtually from March (8-10) and explore the theme of ‘The Cultural Economy and the Economy of Culture’. The fourth edition of the forum will bring together cultural leaders, practitioners and ...

Abu Dhabi / WAM Exhibitors from European countries attending the International Defence Exhibition (Idex 2021) described the exhibition as the strongest defense exhibition in Mena region, and largest event held every two years in Abu Dhabi. They emphasised that organising the event at this time reflects UAE’s success in hosting world events. The largest biennial event of defense exhibition in ...