December, 2021

• 18 December

  Euro area activity drops to 9-month low on resurgent virus

  

    Bloomberg Euro area economic activity slowed as rising coronavirus cases hurt service providers to offset an improvement in manufacturing output. Inflation pressure eased a little. A composite gauge for both sectors fall to 53.4 in December from 55.4 the previous month, according to a survey of purchasing managers by IHS Markit. Services activity grew at its weakest since April ...

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• 18 December

  Intel to build $7 billion chip facility in Malaysia

  

    Bloomberg Intel Corp is spending $7.1 billion on new chip packaging facilities in Malaysia, a major investment to ramp up its global footprint and address a crippling global chip shortage it expects to persist until 2023. The company is earmarking more than 30 billion ringgit towards expanding its capacity in the country, Chief Executive Officer Pat Gelsinger told reporters. ...

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• 18 December

  Oppo’s foldable phone is $500 cheaper than Samsung Z Fold

  

    Bloomberg Oppo took the wraps off a foldable smartphone that’s more than $500 cheaper than Samsung Electronics Co’s Galaxy Fold, launching its maiden attempt to stake out a spot in the nascent category. The Oppo Find N sports a 7.1-inch inner display co-developed with its Korean rival and an exterior 5.5-inch screen. It will start at $1,250 in China ...

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• 18 December

  Google, Facebook face online tracking restrictions

  

    Bloomberg Tech giants such as Google and Facebook face major restrictions on the way they handle content after a committee of European Union (EU) lawmakers proposed expanding measures to protect consumers online. New regulations would limit the targeting of ads to minors and completely ban so-called “dark patterns,” where platforms push people to consent to being tracked online, according ...

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• 18 December

  Yamaha to unveil electric scooters

  Bloomberg Yamaha Motor Corp is set to unveil an electric scooter in key markets next year as Japanese motorcycle manufacturer seeks to deliver greener products. Yamaha will start offering small EV scooters in Europe, and lease medium-sized bikes in Europe, Japan, China, Malaysia, Indonesia and Thailand starting from spring, CEO Yoshihiro Hidaka said. They are based on the company’s E01, E02 ...

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• 15 December

  IAEA chief reviews progress of Barakah Nuclear Energy Plant

  

    Abu Dhabi / WAM The Director-General of the International Atomic Energy Agency (IAEA), Rafael Mariano Grossi, has visited the Barakah Nuclear Energy Plant in the Al Dhafra region of Abu Dhabi emirate. Grossi was welcomed by Ambassador Hamad Al Kaabi, Permanent Representative of the UAE to the IAEA, Engineer Ali Al Hammadi, Chief Executive Officer of Nawah Energy Company, ...

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• 15 December

  Emirati youth true wealth of nation: Sheikh Nahyan

    Dubai / WAM Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence, stressed that Emirati youth are the true wealth of the country, the builders of the future and the ambassadors of the UAE, who promote the values of tolerance, peace, coexistence and human fraternity globally. He made this statement during his meeting at Expo 2020 Dubai ...

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• 15 December

  ADQ opens Cairo office to boost investment in Egypt

  

    Abu Dhabi / WAM ADQ, one of the region’s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy, has established a new office in Egypt to build on its commitment to investing in the country’s economic growth. The opening of ADQ’s new office complements the $20 billion (AED 73 billion) ...

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• 15 December

  Local investors to take up to 20% stake in AED15bn Ta’ziz ‘projects’

  

    ABU DHABI / WAM The Abu Dhabi Chemicals Derivatives Company RSC Ltd (Ta’ziz) on Wednesday signed investment agreements with eight United Arab Emirates -based investors, marking the first domestic Public Private Partnership (PPP) in Abu Dhabi’s downstream and petrochemicals sector. The agreements comprise commitments by the investors to invest in an up to 20% stake in a portfolio of ...

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• 15 December

  CBD to provide services, products to Rakez clients

  

    Ras Al Khaimah / WAM Ras Al Khaimah Economic Zone (Rakez) entered into a strategic alliance with Commercial Bank of Dubai (CBD) to provide Rakez clients with quick and convenient access to the bank’s products and services. An MoU was signed by Ramy Jallad, Group CEO of Rakez, and Dr Bernd van Linder, Chief Executive Officer of CBD. Through ...

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