July, 2021

• 31 July

  Starbucks slips as slowing China growth outweighs US boom

  

  Bloomberg Starbucks Corp reported quarterly results that outpaced estimates on the back of a strong US recovery — but a less optimistic outlook for the key Chinese market weighed on shares in trading. Global same-store sales, an important gauge of restaurant success, rose 73% in the fiscal third quarter ended June 27 compared with the year-earlier period, surpassing projections. US ...

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• 31 July

  Samsung makes its foldable phones a key priority for mobile unit

  

  Bloomberg Samsung Electronics Co said it’s making foldable phones a priority, starting with a major promotional push in the latter half of this year aimed at bringing the premium form factor to a mainstream audience. Discussing its earnings, the South Korean maker of the Galaxy family of mobile devices went further and stronger in its commitment to the foldable category. ...

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• 31 July

  Zuckerberg says Facebook’s future lies in virtual ‘metaverse’

  

  Bloomberg Mark Zuckerberg doesn’t just want you logging in to his company’s products. He wants you living, working and even exercising inside them. That’s the very high-level idea behind the “metaverse,” a vision for the future of Facebook Inc and the entire internet that Zuckerberg started pushing aggressively in the past week. “In the coming years, I expect people will ...

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• 31 July

  Rivian in early talks for UK factory

  

  Bloomberg Rivian Automotive Inc, the electric truck startup backed by Amazon.com Inc and Ford Motor Co, is in talks with the UK government on building its first manufacturing plant outside the US near the English city of Bristol, Sky News reported. The investment would probably include a large state-support package, but the UK faces competition from Germany and the Netherlands ...

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• 31 July

  Renault has come ‘back from hell’, says CEO Luca de Meo

  

  Bloomberg Renault SA’s chief declared the automaker is firmly on the comeback trail after a record loss, forecasting stable profitability despite the global chip shortage and rising raw material prices. The carmaker has “abandoned the approach of only looking for sheer growth,” Chief Executive Officer Luca de Meo said in a Bloomberg TV interview. “We are actually back from hell ...

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• 29 July

  Emirates Mars Mission ‘double moon’ campaign gets award at Cannes Lions

  

  DUBAI / WAM The ‘Double Moon’ campaign, which was organised in the run-up to Hope Probe’s arrival to Mars, bagged an Outdoor Silver Lion at the prestigious Cannes Lions International Festival of Creativity. The campaign, which brought Mars’ twin moons Phobos and Deimos to the skies of Dubai earlier in February using new technologies for the first time in the ...

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• 29 July

  Mohamed, British PM review regional, global developments

  Abu Dhbai / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, discussed during a telephone call with British Prime Minister Boris Johnson ways of enhancing relations of cooperation and friendship between the two countries. His Highness Sheikh Mohamed bin Zayed and the British Prime Minister ...

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• 29 July

  FAB reports group net profit of AED5.4 billion in H1 2021

  

  Abu Dhbai / WAM First Abu Dhabi Bank (FAB) has reported its financial results for the first half period ended on June 30. First half 2021 Group Net Profit was AED5.4 billion, an 11 percent increase year-on-year. The increase was driven by revenue growth from a solid performance across the bank’s core businesses despite headwinds from rate cuts, increased contribution ...

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• 29 July

  ADIB’s first half profit up 89% to AED1.1 billion

  

  Abu Dhbai / WAM Abu Dhabi Islamic Bank (ADIB) delivered strong financial results for H1 2021, with net profit surging 89 percent year-on-year to AED 1,109 million from AED 588 million in H1 2020. The growth in net profit reflects the strong underlying performance across the business supported by a 3.4 percent growth in total revenue to AED 2,644 million ...

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• 29 July

  Mubadala invests $250m in global biosimulation leader Certara

  

  ABU DHABI / WAM Certara (NASDAQ: CERT), a global leader in biosimulation, on Wednesday announced that Mubadala Investment Company (Mubadala) has made an approximately $250 million investment in Certara. The investment aligns with Mubadala’s strategy of enabling innovation to address unmet clinical needs and drive cost efficiencies. Mubadala and certain existing institutional shareholders of Certara, including a shareholder affiliated with ...

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