October, 2022

• 9 October

  Samsung’s earnings slump on rapid drop-off in chip demand

  

    Bloomberg Samsung Electronics Co reported its first profit drop since 2019, underscoring the depth of a global PC and memory chip downturn. Operating profit falls by 32% to 10.8 trillion won ($7.7 billion) for the three months ended September, South Korea’s largest company said in a statement. Analysts had estimated 12.1 trillion won on average. Sales also missed estimates, ...

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• 9 October

  Rivian recalls 13,000 vehicles to fix structural defect

  

  Bloomberg Electric vehicle maker Rivian Automotive will recall about 13,000 vehicles it delivered to customers after discovering a minor structural defect. Irvine, California-based Rivian is making the recall because a fastener “may not have been sufficiently torqued,” Chief Executive Officer RJ Scaringe said in a letter to customers that was seen by Bloomberg News. The nut could loosen fully in ...

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• 9 October

  Google to open first Japan data center

    Bloomberg Alphabet Inc.’s Google will open its first data center in Japan next year as part of increasing investment in the world’s third-biggest economy. The new facility, based in Inzai City, Chiba, will accelerate the operation of Google tools and services and support economic activity and jobs, Chief Executive Officer Sundar Pichai wrote in a blog post. It’s part ...

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• 8 October

  Enec to showcase success of UAE nuclear energy sector in Prague

  

  Abu Dhabi / WAM The Emirates Nuclear Energy Corporation (Enec) is set to showcase the success and impact of the UAE nuclear energy sector at the forthcoming World Association of Nuclear Operators’ (Wano) Biennial General Meeting (BGM) in Prague, Czech Republic, between October 9-11. Held under the theme “One Wano – A Global Commitment to Nuclear Excellence,” the Wano BGM ...

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• 8 October

  Oil poised for biggest rally since March on Opec+ move

  

    Bloomberg Oil headed for the biggest weekly gain since early March as Opec+ put the market on course for further tightening ahead of winter. West Texas Intermediate traded above $90 a barrel on Friday, bringing futures close to 12% higher for the week, as Brent topped $95 for the first time since mid-September. Time spreads were signaling supply scarcity ...

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• 8 October

  UAE all set to host fourth GCC Visual Arts forum in December

    Abu Dhabi / WAM The UAE, in cooperation with the Secretariat General of the Gulf Cooperation Council (GCC), will host the fourth edition of the GCC Visual Arts Forum from December 20-25. The six-day forum will host a selection of Gulf artists from various branches of visual arts at Manarat Al Saadiyat in Abu Dhabi and will be accompanied ...

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• 8 October

  Hub71 start-up launches world’s first utility NFT ‘Lovely Humans’

  

    Abu Dhabi / WAM Gleac, a Hub71 start-up offering a mentorship network to help people apply human skills through simulated work situations, announced the launch of the world’s first utility NFT, “Lovely Humans”, allowing users one-on-one time with global industry experts for five hours. The winning bidder can use the time with the industry expert to gain work-related knowledge ...

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• 8 October

  UAE, Egypt keen to strengthen cooperation in defence sector

  

  Cairo / WAM During his official visit to Egypt, Major General Dr. Mubarak Saeed bin Ghafan Al Jabri, Assistant Under-Secretary for Support and Defence Industries at the Ministry of Defence, met with Major General Kamal Wafaa Radwan, Head of the Armament Authority of the Egyptian Ministry of Defence. The two sides discussed new opportunities for strengthening the overall relations between ...

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• 8 October

  IsDB raises $1.6 billion from sukuk issuance

    Jeddah / WAM Dr Zamir Iqbal, Vice President, Finance, chief financial officer of the Islamic Development Bank (IsDB), said the bank collected $1.6 billion from its first sukuk issuance in April. The AAA-rated issuance was executed in line with the bank’s $4.1 billion financing plan for 2022, approved by the chairman. In his statement to the Emirates News Agency ...

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• 8 October

  Edge to bolster position in national security, law enforcement markets

  

  Abu Dhabi / WAM Edge is making its debut at the International Exhibition for National Security and Resilience (ISNR Abu Dhabi), from October 10-12 at the Abu Dhabi National Exhibition Centre (Adnec). Edge will demonstrate how its products and services provide a competitive advantage to customers and strengthen national security in the UAE. SIGN4L, Beacon Red, Katim, Caracal, and Lahab ...

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