July, 2022

• 12 July

  Credit Suisse loses four debt traders

  

  Bloomberg Credit Suisse group is losing four traders from its high-yield and distressed-debt desks just as interest-rate hikes, inflation and volatile markets heighten the need for such expertise. The traders will join British lender Barclays Plc in New York as it beefs up its own credit desks, according to people with knowledge of the moves. Three of those departing are ...

  Read More »
• 12 July

  This electric three-wheeler brings greener delivery options

  

  Bloomberg In June, the electric bike startup Joco, which rents e-bikes to food delivery workers and other couriers in New York City and Chicago, began testing a new vehicle called the Deliverator. Made in Eugene, Oregon by Arcimoto Inc, the Deliverator is an electric three-wheeler with a “reverse-tricycle” configuration—two wheels in the front and one in the back—that makes it ...

  Read More »
• 12 July

  Musk laughs off Twitter lawsuit in characteristic meme fashion

  

    Bloomberg Billionaire Elon Musk issued a humorous late-night response to Twitter Inc.’s preparations to sue and force him to complete a $44 billion takeover of the company. Eschewing any words of his own, the Tesla Inc. and SpaceX chief posted a meme late Sunday featuring images of himself laughing with captions recounting one version of events over the past ...

  Read More »
• 12 July

  Samsung begins mass production of 3-nanometer chips

  

  Bloomberg Samsung Electronics Co. kicked off mass production of 3-nanometer chips that are more powerful and efficient than predecessors, beating rival Taiwan Semiconductor Manufacturing Co. to a key milestone in the race to build the most advanced chips in the world. South Korea’s largest company will begin with 3nm semiconductors for high-performance and specialized low-power computing applications before expanding to ...

  Read More »
• 11 July

  ‘Netflix slowdown has multiple factors’

    Bloomberg Netflix Inc’s co-chief executive officer is blaming a recent slowdown at the streaming service on multiple factors including inflation’s impact on household budgets, a decline in smart TV sales due to supply chain constraints, and its departure from Russia. “Every customer is asking the question of value of a subscription in relation to its cost,” Ted Sarandos said ...

  Read More »
• 8 July

  Abu Dhabi, Colombia to boost collaboration in energy sector

  

    Abu Dhabi / Gulf Time The Abu Dhabi Department of Energy (DoE) signed a five-year memorandum of understanding (MoU) with the Ministry of Mines and Energy of Colombia at an event at the DoE’s headquarters in the UAE capital. The agreement aims to explore opportunities for collaboration on capability development and sharing of knowledge and information, supporting joint projects ...

  Read More »
• 8 July

  Preparations complete in Mina to receive 1 million Hajj pilgrims

    MINA / WAM The Saudi government departments and authorities responsible for Hajj season 2022 completed their preparations to receive one million pilgrims in Mina to spend Tarwiyah (watering) Day. According to the Saudi Press Agency (SPA), the Ministry of Hajj has completed its operational plan for this year’s Hajj season. Meanwhile, the Commands of the Hajj Security Forces have ...

  Read More »
• 8 July

  UAE, EU discuss ways to enhance cooperation

  

    Bali / WAM HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, met with Josep Borrell, High Representative of the European Union (EU) for Foreign Affairs and Security Policy and Vice President of the European Commission. During the meeting, held on the sidelines of the 2022 G20 Bali Summit, Indonesia, the two sides discussed ...

  Read More »
• 8 July

  UAE launches ‘NextGen FDI’ to attract world’s top digital firms

  

    Dubai / WAM The UAE has launched “NextGenFDI”, a major campaign to attract digitally enabled companies and highly skilled talent to the country. Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, who oversees the file to attract FDI and global talent to the country, said NextGenFDI would encourage more than 300 global technology firms and ...

  Read More »
• 8 July

  Etihad, Mashreq launch ‘points transfer’ programe

  

  Abu Dhabi / Gulf Time Etihad Guest, the award-winning loyalty programme of Etihad Airways in partnership with Mashreq, a leading global financial institution, has launched a points transfer programme for members to benefit from. Members can now convert Mashreq Salaam Points into Etihad Guest Miles with a conversion ratio of 22 Salaam Points for every 1 Etihad Guest Mile. Etihad ...

  Read More »