Bloomberg Apple Inc. has acquired Mobeewave Inc., a startup with technology that could transform iPhones into mobile payment terminals. Mobeewave’s technology lets shoppers tap their credit card or smartphone on another phone to process a payment. The system works with an app and doesn’t require hardware beyond a Near Field Communications, or NFC, chip, which iPhones have included since 2014. ...

Bloomberg Tesla Inc. could be on track to complete its new plant near Berlin more quickly than its Shanghai facility, according to a local government minister. The US carmaker has said it wants to finish the factory in Gruenheide by the middle of 2021, and faster than the Chinese operation, which went up in less than a year. The German ...

Bloomberg BMW AG will make a version of its X5 SUV that runs on hydrogen fuel-cells, part of the carmaker’s plan of producing as many drive variants as possible until one technology proves dominant. The i Hydrogen NEXT will get a limited production run starting in 2022, the German manufacturer said in a statement. Toyota Motor Corp. will supply the ...

Bloomberg The Covid-19 pandemic is fuelling an e-commerce boom as shuttered businesses move online — but Google isn’t benefiting in way its big tech rivals are. Google advertising sales fell 8% in second quarter, causing overall revenue at parent Alphabet Inc. to shrink for first time. The company’s main digital ad rival Facebook Inc. saw sales jump 11%, while Amazon.com ...

Bloomberg Oil dipped in tandem with a risk-off move in US equities as investors await a clear signal on supply amid expectations for a build in stockpiles. Futures in New York declined as much as 1.4% on Tuesday. Equities across the US, Europe and Asia weakened with investors laser-focused on corporate earnings results as an indication of the economic damage ...

Dubai / WAM The Islamic Arab Insurance Company PSC (Salama) has received all necessary regulatory and internal approvals to increase Foreign Ownership Limit (FOL) from 25 percent to 49 percent as per Securities and Commodities Authority (SCA) Certificate. A company statement posted on Dubai Financial Market (DFM) website, said Salama has contacted Dubai Central Securities Depository to start the necessary ...

Abu Dhabi / WAM Younis Haji Al Khoori, Under-Secretary of Ministry of Finance, has said that the United Arab Emirates has proven itself to be a model to the world when it comes to dealing with the novel coronavirus (Covid-19) thanks to the guidance of the country’s wise leadership, the cooperation between all authorities, and the community’s commitment and adherence ...

DUBAI / WAM In line with the UAE government’s commitment to support the business community, Dubai South has announced the extension of its incentive package for Business Park and Business Centre clients until the end of the year. The move aims to help companies navigate the challenges posed by the Covid-19 pandemic and ensure business continuity during the recovery period. ...

Abu Dhabi / WAM Abu Dhabi Securities Exchange (ADX) announced its CSD & Registry Services Department has listed the capital increase of 500,000,000 shares for Gulf Pharmaceutical Industries (Julphar) in the investors’ accounts. Accordingly, the accounts have been updated and the new shares will be tradable from July 28, said ADX in a statement on Tuesday. The AED 500 million ...

TAIZ / WAM The UAE is continuing to provide free healthcare services to the residents of Yemen’s Red Sea Coast, through the mobile clinics of the Emirates Red Crescent (ERC) and as part of its various relief and humanitarian projects. The ERC’s three mobile clinics staffed by 12 doctors received 200 patients from various age groups from Al Sawadiyah in ...