July, 2019

• 27 July

  Samsung revives its Galaxy Fold for September launch

  

  Bloomberg Samsung Electronics Co will begin selling its Galaxy Fold in September, resurrecting a device it pulled months ago after early reviewers reported defects in the gadget’s much-touted flexible screen. The world’s biggest smartphone maker is conducting final testing after making a series of modifications to the device, and said in an online post it will sell the phone in ...

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• 27 July

  Roku working on new device to improve video streaming

  

  Bloomberg Roku Inc is working on a new device to address a common problem with streaming TV set-top-boxes: video quality. The company is developing a Wi-Fi extender called Roku Relay and is testing it internally, according to people familiar with the matter. The device increases the range of a Wi-Fi router, spreading internet signals further through homes so online video ...

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• 27 July

  Toyota invests $600m in China’s Didi

  

  Bloomberg Toyota Motor Corp will inject $600 million into Didi Chuxing and help the Chinese company set up a car fleet management venture, bankrolling the loss-making ride-hailing giant’s expansion. The Japanese auto-maker will work with Didi to provide services including rental and car maintenance. Toyota will use its connected-car technology and intelligent analysis to help bolster Didi’s business, the partners ...

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• 27 July

  Snapchat user growth accelerates after android fix

  

  Bloomberg Snapchat’s growth accelerated after the social-media company rolled out an improved version of its Android mobile application and introduced fun ways for people to manipulate their images and videos. Snap Inc, whose Snapchat app lets people send each other disappearing photos and videos, said an average of 203 million users logged in daily in the second quarter, well ahead ...

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• 24 July

  UAE, Indonesia firms sign raft of deals

  

  BOGOR / WAM Corporate giants of the UAE that include Abu Dhabi National Oil Company (Adnoc), Mubadala, and global trade enabler DP World have signed slew of agreements with Indonesian companies, on Wednesday. The signing of the pacts took place on the sidelines of the state visit by HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi ...

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• 24 July

  World’s largest AI startup to open Abu Dhabi hub

  Bloomberg SenseTime Group Ltd., one of the world’s most valuable artificial-intelligence startups, is setting up a hub in Abu Dhabi for Europe, Middle East and Africa with plans to hire hundreds of engineers. The Chinese facial recognition firm, which counts Alibaba Group Holding Ltd. as an investor, will start work on the research and development center this year and build ...

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• 24 July

  Oil rallies as US stockpiles plunge

  

  Bloomberg Oil’s rally picked up steam as US crude stockpiles shrank and domestic output plunged the most in more than a year, adding to supply concerns as tensions escalate in the Middle East. Futures jumped as much as 1.5% after the Energy Information Administration said domestic oil inventories slipped for a sixth straight week, the longest contraction since January 2018. ...

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• 24 July

  SIB profit rises to AED291mn

  Sharjah / WAM The Sharjah Islamic Bank’s (SIB) net profit rose to AED290.5 million in first half of 2019 compared to AED283 million achieved during the same period last year, an increase of three percent. The banks total assets reached AED44.3 billion at end of first half of this year, bringing it to the same level as it was at ...

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• 24 July

  India plans $10b global bond sale in October

  Bloomberg India is considering an option to raise $10 billion in one go from its first overseas bond sale as early as October, according to people with knowledge of the matter. The government would prefer to sell yen or euro-denominated debt so as to offer lower yields. A dollar bond isn’t ruled out given there would be more liquidity, while ...

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• 24 July

  UAE and Indonesia share path of tolerance, growth

  ABU DHABI / WAM HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, arrived in Indonesia on Wednesday on a state visit. The two countries’ shared vision for tolerance and economic growth are taking bilateral relations to new levels. As Muslim-majority countries, the diplomatic relations between Indonesia and ...

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