June, 2021

• 12 June

  VW charged with deceit over diesel emissions

  

  Bloomberg French investigators said Volkswagen AG has been charged in a fresh crackdown on alleged deception over diesel emissions that’s also embroiled rival Renault SA. VW was charged on May 6 and must now make a 10 million-euro bail payment and provide a 60 million-euro bank guarantee, an official at the Paris prosecutor’s office said in a statement. The announcement ...

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• 12 June

  Apple hires ex-BMW executive for its rebooted car project

  

  Bloomberg Apple Inc has hired Ulrich Kranz, a former senior executive at BMW AG’s electric car division, to help lead its own vehicle efforts. The technology giant hired Kranz, about a month after he stepped down as chief executive officer of Canoo Inc, a developer of self-driving electric vehicles. Before co-founding Canoo, Kranz was senior vice president of the group ...

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• 10 June

  UAE ranks second globally for overall business skills

  

  Dubai / WAM According to Coursera’s Global Skills Report 2021, the UAE ranks first in the Mena region and second globally in overall business skills, only after Luxemburg. This year’s study draws on performance data since the pandemic’s onset from more than 77 million learners on the platform to benchmark skills proficiency across business, technology, and data science for over ...

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• 10 June

  Biden needs more than $52b for chip effort to counter China

  

  Bloomberg President Joe Biden’s blueprint for the US semiconductor industry marks an ambitious effort to set industrial policy for a critical sector of the economy, but the strategy will need more money and global support to take back chip supremacy and preempt a rival effort from China. The White House outlined a sweeping plan to secure the conduits for critical ...

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• 10 June

  Mubadala takes stake in Aramco pipelines venture

  

  Abu Dhabi / WAM Mubadala, the Abu Dhabi-based sovereign investment company, on Wednesday announced that it has joined the EIG-led consortium which has entered into a transaction with Saudi Arabian Oil Co (Aramco) to acquire a 49 percent equity stake in the newly formed entity Aramco Oil Pipelines Company. Mubadala said in a statement that Aramco will retain the remaining ...

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• 10 June

  ADU ranked among world’s top universities

  ABU DHABI / WAM Abu Dhabi University (ADU) has retained its position in the top 701-750 universities globally in the prestigious Quacquarelli Symonds (QS) World University Rankings for 2022 for the fourth year in a row while continuing to significantly improve its position on various indicators. The university has improved its score in different key indicators. Compared to previous performance, ...

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• 10 June

  Abu Dhabi’s Hub71 partners with ADIO to grant AED10m to startups

  

  ABU DHABI / WAM Hub71, Abu Dhabi’s global tech ecosystem, and the Abu Dhabi Investment Office (ADIO) have partnered to support early-stage tech startups in growing their teams and scaling their businesses with the purpose to generate societal impact. The partnership complements Hub71’s new programme, ‘The Outliers’, enabling startups from around the world to collaborate with leading corporations and government ...

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• 10 June

  EDB successfully closes $750m five-year bond

  

  Abu Dhabi / WAM Emirates Development Bank (EDB), a key financial enabler of the country’s economic diversification and industrial transformation agenda, has succesfully closed its $750 million five-year bond issue, priced at a fixed re-offer yield of 1.639 percent per annum in the Regulation S markets. This was the second USD transaction issued under EDB’s $3 billion Euro Medium Term ...

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• 10 June

  Ajman Chamber, Estonia to boost bilateral trade

  Ajman / WAM Abdullah Al Muwaiji, Chairman of the Ajman Chamber of Commerce and Industry, discussed with Jaan Reinhold, Ambassador of Estonia to the UAE, prospects of economic collaboration and ways to boost bilateral trade between two nations. This came as part of the ambassador’s visit to the chamber to explore ways to benefit from the investment opportunities the two ...

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• 10 June

  Swiss ambassador visits Rolex’s new boutique at The Galleria Mall

  

  Abu Dhabi / Emirates Business The honourable Swiss Ambassador to the UAE, HE Massimo Baggi, visits Mohammed Rasool Khoory & Sons newly opened Rolex Boutique at The Galleria Al Maryah Island. The honourable ambassador was received at the Boutique by Yousef Al Khoori, CEO of Mohammed Rasool Khoory & Sons. The new boutique offers a comprehensive Rolex experience. It provides ...

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