June, 2021

• 20 June

  GM deepens EV bet with $35bn spending

  

  Bloomberg General Motors Co is raising the stakes in the electric-vehicle race, boosting its investment in future technology for a second time in eight months with plans to spend $35 billion on more than 30 plug-in vehicles by 2025 and a total of four battery plants. The automaker said the stepped-up investment reflects stronger-than-expected financial results for the year. Higher ...

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• 20 June

  Mobile health apps plagued by privacy issues, says study

  

  Bloomberg Health and fitness apps, which help mobile-phone users track everything from calorie intake to menstruation dates, can access and share personal data in a way that’s concerning, according to a study published in the British Medical Journal. The analysis of more than 20,000 apps found that inadequate privacy disclosures for many of them prevented users from making informed choices ...

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• 20 June

  Apple supplier Biel weighs $2bn Hong Kong IPO

  

  Bloomberg Biel Crystal Manufactory Ltd, a supplier of cover glass to Apple Inc., is planning a Hong Kong initial public offering that could raise as much as $2 billion, according to people with knowledge of the matter. The maker of touch screens is working with China International Capital Corp., HSBC Holdings Plc and JPMorgan Chase & Co. on the offering, ...

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• 20 June

  Waymo raises $2.5bn in funding round

  Bloomberg Waymo, Alphabet Inc.’s self-driving car unit, said it raised $2.5 billion in a recent funding round to help advance its technology and replace a management team rocked by departures. Earlier this spring, Waymo had been talking to outside investors about raising as much as $4 billion, Bloomberg has reported. The Google sibling has lost six key executives in rapid ...

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• 17 June

  Mubadala Health takes 60% stake in UEMedical

  

  Abu Dhabi / Emirates Business Mubadala Health, the integrated healthcare network of Mubadala Investment Company, on Wednesday announced the acquisition of a 60% stake in United Eastern Medical Services (UEMedical) from Jadwa Investment and United Eastern Group (UEG). UEMedical owns and operates multiple hospitals and clinics specializing in women’s health, family medicine, pediatrics, fertility, eye care, dentistry and dermatology in ...

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• 17 June

  UAE emphasises importance of protecting environment

  NEW YORK / WAM At the UN General Assembly’s High-level dialogue on desertification, land degradation and drought, the UAE has underlined that protecting the environment must be a priority for the international community. “We only have one home, one shelter – Earth,” said Dr Abdullah Al Nuaimi, Minister of Climate Change and Environment, through a video message. “Therefore, we all ...

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• 17 June

  UAE, Pakistan to bolster trade, investment ties

  

  Dubai / WAM The Pakistan Business Council in Dubai organised the second trade session with Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, to discuss new business opportunities, boosting bilateral trade volume between the UAE and Pakistan and capitalising on Expo 2020 opportunity. The minister was accompanied by Afzaal Mahmood, Ambassador of Pakistan to the UAE, ...

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• 17 June

  Oil edges higher with market tightening, virus curbs easing

  

  Bloomberg Oil crept higher as industry data pointed to a substantial decline in US crude stockpiles and fuel sales in India showed signs of recovering. Inventories dropped by 8.54 million barrels last week, according to people familiar with the American Petroleum Institute’s data. Oil is also being helped higher by positive demand signals from Asia. Indian gasoline and diesel sales ...

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• 17 June

  UAE, Kuwait to boost economic cooperation

  KUWAIT / WAM Dr Matar Hamed Al Neyadi, UAE Ambassador to Kuwait, met Khalifa Musaed Hamada, Kuwaiti Minister of Finance and Minister of State for Economic and Investment Affairs, at his office in Kuwait. Al Neyadi highlighted the UAE’s keenness to boost joint cooperation and strengthen relations between the two brotherly countries, especially in the financial and economic sectors. For ...

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• 17 June

  CBD signs deal to offer pre-approved business loan

  

  Dubai / WAM Commercial Bank of Dubai (CBD), one of the leading banks in the UAE, and Network International, the leading enabler of digital commerce in the Middle East and Africa (MEA) region, signed an agreement to provide Network International’s merchant clients with a pre-approved business loan against their Point of Sale Receivables. The agreement was signed by Amit Malhotra, ...

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