May, 2021

• 23 May

  BOE to green its corporate bond-buying program

  

  Bloomberg The Bank of England (BOE) signalled it will take account of the government’s environmental goals in buying assets in financial markets, saying it will shift purchases toward companies doing the most to fight climate change. The move is part of a global effort by central banks to push the financial services industry towards greener finance. The BOE stopped short ...

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• 23 May

  Apple readies MacBook Pro, MacBook Air revamps

  

  Bloomberg Apple Inc is preparing to release several new Mac laptops and desktops with faster processors, new designs and improved connectivity to external devices, accelerating the company’s effort to replace Intel Corp chips and leapfrog rival PC makers. The overhaul encompasses a broad range of Macs, including Apple’s higher-end laptop, the MacBook Pro; the laptop aimed at the mass market, ...

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• 23 May

  Flying taxis may take off in Europe by ’24

  

  Bloomberg Electric flying taxis may be cleared for takeoff in European skies by 2024 or 2025, according to the region’s top air-safety regulator. Piloted craft that take off vertically could see commercial use carrying packages before passengers, Patrick Ky, executive director of the European Union Aviation Safety Agency (EASA), said in an online event. Autonomous drones will take at least ...

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• 23 May

  BMW to get $1.2bn boost from milder antitrust fine

  

  Bloomberg BMW AG will raise its earnings forecast for the year because it expects an antitrust fine from European Union will be much smaller than anticipated two years ago. The automaker said it will get a roughly $1.2 billion boost to earnings this quarter from revaluing a provision for an EU fine over allegations that it colluded with its German ...

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• 23 May

  Chip crisis in ‘danger zone’ as wait times reach new record

  

  Bloomberg Shortages in the semiconductor industry, which have already slammed automakers and consumer electronics companies, are getting even worse, complicating the global economy’s recovery from the coronavirus pandemic. Chip lead times, the gap between ordering a chip and taking delivery, increased to 17 weeks in April, indicating users are getting more desperate to secure supply, according to research by Susquehanna ...

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• 23 May

  JLR owner swings to profit as China sales rise

  Bloomberg Jaguar Land Rover’s (JLR) Indian owner reported a pretax profit in three months through March as a recovery in Chinese demand lifted sales of the automaker’s luxury sports cars and SUVs. Tata Motors Ltd posted fourth-quarter earnings of 57 billion rupees before tax and one-time items, rebounding from a loss of 65 billion rupees a year earlier. Revenue soared ...

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• 20 May

  UAE to allow investors 100% ownership of firms from June 1

  

  ABU DHABI / WAM UAE Ministry of Economy announced that the amended Commercial Companies Law will come into effect on June 1, allowing foreign investors and entrepreneurs to establish and fully own onshore companies. The UAE government has recently adopted an amendment to the Commercial Companies Law allowing 100 percent foreign ownership of companies. Abdulla bin Touq Al Marri, Minister ...

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• 20 May

  Crypto tumble wipes $600b off digital tokens in a week

  

  Bloomberg Virtual currencies are retreating so broadly and sharply, it’s testing the durability of the cryptocurrency boom. The value of more than 7,000 tokens tracked by CoinGecko has shrunk more than $600 billion in the past week to $1.9 trillion. Bitcoin, the largest cryptocurrency, slid some 11% on Wednesday to break below $40,000 and is now about $25,000 off its ...

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• 20 May

  Khalifa Fund launches Abu Dhabi SME Hub

  

  ABU DHABI / WAM The Khalifa Fund for Enterprise Development (KFED), an independent entity of the government of Abu Dhabi mandated to develop and support the Small and medium-sized enterprises (SMEs) sector, launched the Abu Dhabi SME Hub, a new knowledge platform dedicated to supporting SMEs and startups in the UAE. Mohamed Ali Al Shorafa, Chairman of the Abu Dhabi ...

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• 20 May

  Hub71 selects 16 new startups, backs community with funding

  

  ABU DHABI / WAM Hub71, Abu Dhabi’s global tech ecosystem, announced its first cohort of 2021, selecting 16 tech startups from 11 countries and seven sectors out of 150 applicants to join its vibrant community. The number of successful applications reflect an 11 percent success rate that led to Hub71 selecting its first startups from India, Saudi Arabia, Turkey, Mauritius ...

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