May, 2022

• 30 May

  RBI sets aside more money for rainy day, payout drops

  

    Bloomberg The Reserve Bank of India’s (RBI) expenditure surged as it tucked away more money towards a contingency fund, its annual report showed, a development economists said cut the central bank’s surplus and led to the smallest dividend payout in a decade to the government. While income rises by 20.1% in the financial year to March 2022, expenditure zoomed ...

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• 30 May

  Japanese yen bounces from two-decade low

    Bloomberg The yen’s recovery from a 20-year low is picking up pace, with options markets and analysts suggesting the rebound has some room to run. After rising over 3% from its trough, Japan’s currency may climb back to 125 as global growth worries fuel demand for havens and US yields ease, according to Shinkin Asset Management and IG Markets ...

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• 30 May

  Apple to keep iPhone production flat in ’22

  

  Bloomberg Apple Inc is planning to keep iPhone production roughly flat in 2022, a conservative stance as the year turns increasingly challenging for the smartphone industry. The company is asking suppliers to assemble roughly 220 million iPhones, about the same as last year. Market forecasts have hovered closer to 240 million units, driven by an expected major update to the ...

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• 29 May

  Renault plans family car that runs on electricity, hydrogen

  

    Bloomberg Renault SA is developing a family-sized passenger car that will run on electricity for short drives and hydrogen for longer trips as part of the company’s push into fuel-cell technology. Dubbed Scenic Vision, the vehicle will have a carbon footprint that’s 75% lower than a conventional electric vehicle because it uses mostly recycled materials, a smaller battery and ...

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• 29 May

  Google hit with fresh UK probe over ad tech dominance

  

  Bloomberg The UK’s antitrust watchdog started a new investigation of Alphabet Inc’s Google, over suspicions it may have abused its dominant position across its ad tech that goes to the heart of the tech giant’s business model. The move by the Competition and Markets Authority (CMA) opens a fresh front in its regulatory tussle with Google. The CMA said it ...

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• 29 May

  Dell sales rise on strong office PC growth

    Bloomberg Dell Technologies Inc surged the most in two years after reporting quarterly revenue that topped analysts estimates on strong demand for business PCs and networking services, a sign that companies have been upgrading their systems as workers return to the office. The shares jumped 13% to $49.58 in New York, the largest single-day rally since March 2020. Dell’s ...

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• 28 May

  UAE, Poland to strengthen ties across renewables, health, tech

  WARSAW / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, and Zbigniew Rau, Minister of Foreign Affairs of Poland, explored avenues to consolidate UAE-Polish relations in all sectors to achieve their mutual interests and benefit their peoples. This came as the UAE’s top diplomat, who is currently visiting Poland, met with his ...

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• 28 May

  UAE announces region’s first waste-to-feed project

  

    Dubai / WAM Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment, inaugurated the region’s first project that will upcycle organic waste into high-quality products. The venture by innovative homegrown startup Circa Biotech farms black soldier fly (BSF) larvae, fed by food leftovers before being turned into animal proteins, organic fertilisers, and oils. During a tour of ...

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• 28 May

  ADIBF showcases rare book worth AED11mn

    Abu Dhabi / WAM Visitors to the Abu Dhabi International Book Fair (ADIBF) will have the opportunity to view a valuable set of rare books and manuscripts that date back to ancient times. In a statement to the Emirates News Agency (WAM), Christoph Auvermann, from the French Librairie Clavreuil, said the library is participating for the second time in ...

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• 28 May

  Dubai reports AED8.7bn in week-long realty deals

  

    Dubai / WAM Dubai has recorded 2,884 real estate and properties transactions at the value of AED8.7 billion in total during the week ending May 27, according to Dubai Land Department (DLD). The DLD weekly report said that 297 plots were sold for AED1.59 billion, as well as 2,116 apartments and villas for AED4.75 billion. The top three land ...

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