DUBAI / WAM Abdullah bin Touq Al Marri, Minister of Economy, inaugurated the 3rd edition of World of Coffee Dubai 2024, organised by DXB Live and the Specialty Coffee Association. The exhibition features over 1,650 local, regional, and global brands and companies, marking a 50 percent increase in space. This year’s event has garnered significant global interest, with 51 countries ...

DUBAI / WAM Visa, the world leader in digital payments, has signed a memorandum of understanding (MoU) with Dubai Police to join the Operation Center for Economic Crimes (OCEC). The agreement underscores both organisations’ commitment to combatting fraud and financial crime while reinforcing their long-standing partnership. The MoU was signed by Lieutenant General Abdullah Khalifa Al Marri, Commander-in-Chief of Dubai ...

SHARJAH / WAM HH Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah and President of the University of Sharjah (UoS), emphasised the university’s commitment to the pursuit of knowledge as a fundamental principle, aligning with the vision of HH Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah. This approach has ...

BLOOMBERG Apple Inc’s iPhone dethroned Samsung Electronics Co devices to become the best-selling smartphone series over the course of 2023, the first time South Korea’s largest company has lost the top spot since 2010. The iPhone accounted for a fifth of the global market with close to 235 million shipments last year, research firm IDC estimates. Samsung, whose shipments slumped ...

BLOOMBERG Samsung Electronics Co is pinning its hopes for a mobile revival on artificial intelligence. AI will lift the global smartphone market back to growth and Samsung expects to outperform that with sales of its latest flagship devices, mobile chief TM Roh said in an interview. South Korea’s largest company unveiled the Galaxy S24 product family, days after losing the ...

BLOOMBERG Honda Motor Co expects sales in the US to hit 1.4 million vehicles this year for the first time in three years, fuelled mostly by demand for its hybrid and gas-powered models. The Japanese automaker aims to grow sales 10% in 2024, including as many as 1.3 million Honda brand vehicles and some 150,000 upscale Acura cars and SUVs, ...

BLOOMBERG Europe’s automakers are bracing for slower growth this year after sales fell for the first time in 17 months in December on waning enthusiasm for electric vehicles. New-vehicle registrations declined 3.8% to 1.05 million units last month, the European Automobile Manufacturers’ Association said. Sales slumped nearly a quarter in the region’s biggest market Germany after EV incentives ran out, ...

BLOOMBERG Thailand’s electric vehicle (EV) sales may double this year as Chinese manufacturers prepare to roll out their first locally manufactured models and about $2.4 billion in government incentives boosts consumer demand. New battery EV registrations are likely to top 150,000 by the end of the year, Krisda Utamote, president of the Electric Vehicle Association of Thailand, said in an ...

BLOOMBERG Macy’s Inc is laying off about 3.5% of its workforce ahead of the departure of longtime Chief Executive Officer Jeff Gennette, as the department-store operator retrenches amid lower demand. The company said the cuts include about 2,350 employees, mostly in corporate positions. It will also close five stores. The Wall Street Journal earlier reported the layoffs and store closures. ...

BLOOMBERG Indian consumer goods giant Hindustan Unilever Ltd posted disappointing quarterly profit as it struggled with weak demand, a subdued festival season and competitors tearing into the firm’s market share. The Mumbai-based unit of Unilever Plc reported a 0.4% rise in net income to 25.2 billion rupees ($303 million) for the quarter through December compared with the same period a ...