August, 2021

• 8 August

  Apple defends its new child safety features

  

  Bloomberg Apple Inc defended concerns about its upcoming child safety features, saying it doesn’t believe its tool for locating child pornographic images on a user’s device creates a backdoor that reduces privacy. The Cupertino, California-based technology giant made the comments in a briefing, a day after revealing new features for iCloud, Messages and Siri to combat the spread of objectionable ...

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• 7 August

  EV maker Li Auto raises $1.5b in Hong Kong listing

  

  Bloomberg Chinese electric vehicle maker Li Auto Inc has raised HK$11.8 billion ($1.5 billion) in its Hong Kong listing, adding to the cohort of US-traded mainland companies selling shares in the Asian financial hub. Li Auto priced 100 million shares at HK$118 each, it said in a statement to the city’s stock exchange. The price represents a discount of about ...

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• 7 August

  Tencent to probe WeChat function

  Bloomberg Tencent Holdings will review the “youth mode” of its WeChat app after a Beijing prosecutor filed a civil public-interest lawsuit against the company, alleging non-compliance with China’s underage law. The company will “sincerely respond” to the suit, “humbly accept” user suggestions and continue to improve safeguards for teenagers on the app as part of its social responsibility to ensure ...

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• 7 August

  Yamaha teams up with music unit to make EV engines roar

  

  Bloomberg Electric cars are better for the environment and cheaper to run. They’re gaining traction in many countries as governments strive for carbon neutrality. But one thing they don’t have on regular vehicles — that throaty roar that lights up the eyes of gearheads around the world. Yamaha Motor Co is working on a solution. Better known for its motorcycles ...

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• 5 August

  Mubadala Capital’s SPAC Blue Whale Acquisition’s IPO to raise $200mn

  

  ABU DHABI / WAM Blue Whale Acquisition Corp I has announced on Wednesday the pricing of its initial public offering of 20,000,000 units at $10.00 per unit. The units were expected to be listed on the Nasdaq Capital Market (Nasdaq) in the United States and trade under the ticker symbol “BWCAU” beginning on August 04, 2021. Blue Whale Acquisition Corp ...

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• 5 August

  Oil drops again as China Delta outbreak threatens demand

  

  Bloomberg Oil declined for a third day as the coronavirus spread in China and a report showed a surprise build in US crude inventories. West Texas Intermediate futures slumped as much as 3.4%. The delta strain of Covid-19 has been detected in almost half of China’s 32 provinces in two weeks, and at least 46 cities have advised residents against ...

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• 5 August

  Islamic new year holiday for private sector announced

  DUBAI / WAM The Ministry of Human Resources and Emiratisation has declared Thursday, August 12, an official paid holiday for all private sector employees in the UAE to celebrate the Islamic new year (Hijri Year 1443). As WAM reported earlier on Wednesday, the Federal Authority for Government Human Resources (FAHR) has announced Thursday a public holiday for the federal government. ...

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• 5 August

  SEDD, UAE ministry discuss bolstering joint cooperation

  

  SHARJAH / WAM The Sharjah Economic Development Department (SEDD) and the Ministry of Energy and Infrastructure discussed ways of boosting their cooperation, in light of their mutual keenness to help achieve their strategic goals and establish effective relations. This came as part of a meeting between Sultan Abdullah bin Hedah Al Suwaidi, Chairman of SEDD, and Sharif Salim Al Olama, ...

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• 5 August

  Worldwide 5G network infrastructure revenue to hit $19.1b in 2021: Gartner

  

  DUBAI / Emirates Business Worldwide 5G network infrastructure revenue is on pace to grow 39% to total $19.1 billion in 2021, up from $13.7 billion in 2020, according to the latest forecast by Gartner, Inc. Communications service providers (CSPs) in mature markets accelerated 5G development in 2020 and 2021 with 5G representing 39% of total wireless infrastructure revenue this year. ...

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• 5 August

  Dubai entities join hands to spur investments in sports

  

  DUBAI / WAM Dubai Sports Council and Dubai Department of Economic Development (Dubai Economy) have signed a Memorandum of Understanding (MoU) to help boost the business of sports in Dubai. The MoU, which was signed by Sami Al Qamzi, Director-General of Dubai Economy, and Saeed Hareb, Secretary-General of Dubai Sports Council, on Wednesday at the headquarters of the Council, will ...

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