November, 2020

• 1 November

  Ships for Panama Canal face delays on virus congestion

  

  Bloomberg Ships carrying cargoes around the world are waiting for days to pass through the Panama Canal, as pandemic-hit staffing caused congestion at the key pinch point. Long waiting times are affecting shipments of liquefied natural gas (LNG) and liquefied petroleum gas (LPG) from the US Gulf Coast to Asia, according to people with direct knowledge of the situation. The ...

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• 1 November

  Worst car interiors of the year

  

  Bloomberg This is not a list of bad cars. The Chevrolet Corvette, the McLaren 570S, and Lotus Evora, for example, are among the most athletic, fun-to-drive vehicles on market today. But the ability to provide a thrilling experience from behind the wheel doesn’t mean a car sailed through the interior design portion of the test. Engineering prowess doesn’t always transfer ...

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• 1 November

  Apple plans smaller AirPods pro

  

  Bloomberg Apple Inc. is planning updates to its AirPods earbuds next year, seeking to capitalise on the success of a product that has become an important source of growth. The Cupertino, California-based technology giant is working on two new models: third-generation entry-level AirPods and the second version of the AirPods Pro earbuds, according to people familiar with the plans. The ...

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• 1 November

  Tesla aiming to mine its own lithium in Nevada

  

  Bloomberg Tesla Inc. secured its own lithium mining rights in Nevada after dropping a plan to buy a company there, according to people familiar with the matter. The automaker held discussions in recent months with Cypress Development Corp., which is seeking to extract lithium from clay deposits in southwest Nevada, but the parties didn’t reach a deal, the people said, ...

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• 1 November

  Microsoft’s sales top estimates on booming cloud demand

  

  Bloomberg Microsoft Corp.’s first-quarter revenue climbed a better-than-projected 12%, strengthened by corporate demand for cloud-computing services to support customers’ remote workers and move more of their business online. Sales in the period that ended September 30 rose to $37.2 billion, the software maker said in a statement. That exceeded the $35.8 billion average estimate of analysts polled by Bloomberg, and ...

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• 1 November

  Sony raises its profit forecast to $6.7 billion

  Bloomberg Sony Corp. raised its fiscal-year operating profit outlook by 13% to $6.7 billion as its video game unit rode a surge in demand for entertainment from home-bound consumers. The forecast, up from a previous 620 billion yen, surpassed the average analyst expectation of 658.9 billion yen and precedes the PlayStation 5’s highly anticipated November debut. Sony aims to sell ...

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October, 2020

• 28 October

  Abu Dhabi pearl trade jumps to AED8.8 billion in 5 months

  

  Abu Dhabi / WAM Abu Dhabi’s trade in pearls, precious stones and metals has witnessed significant activity in the first five months of this year, rising to AED8.8 billion, a 25.7 percent increase compared to AED7 billion in the same period of 2019, according to the Abu Dhabi Statistics Centre. This significant jump reinforces the position of the emirate and ...

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• 28 October

  Oil falls with Europe’s virus curbs growing

  

  Bloomberg Oil falls sharply with broader markets as renewed restrictions on movement in Europe clouded the outlook for the consumption once again. Crude futures in New York fall 4.6%, while those in London retreated below $40 a barrel, the lowest since October 5. Germany is proposing widespread curbs for a month, while France is preparing tougher restrictions that may include ...

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• 28 October

  Abu Dhabi’s new FDI licence gives 100% ownership to investors

  

  Abu Dhabi / WAM The Abu Dhabi Department of Economic Development (Added) announced the implementation of the Foreign Direct Investment Law within the emirate of Abu Dhabi by issuing the “Foreign Direct Investment License” which will enable investors to hold 100 per cent ownership of their businesses in Abu Dhabi. The license covers 122 different economic activities related to the ...

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• 28 October

  UAE discusses strategic ties with Singapore

  Abu Dhabi / WAM Obaid bin Humaid Al Tayer, Minister of State for Financial Affairs held a virtual meeting with Lawrence Wong, Singapore’s Minister for Education and Second Minister for Finance. The meeting, which is part of the Ministry of Finance’s endeavour to deepen constructive cooperation ties with various countries of the world, discussed ways to strengthen strategic relations and ...

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