January, 2024

• 18 January

  TSMC’s outlook backs hopes for global tech recovery in 2024

  

  BLOOMBERG Taiwan Semiconductor Manufacturing Co (TSMC) expects a return to solid growth this quarter and gave itself room to raise capital spending in 2024, suggesting the world’s most valuable chipmaker anticipates a recovery in smartphone and computing demand. The main chipmaker to Apple Inc and Nvidia Corp is budgeting capital expenditure of $28 billion to $32 billion — versus about ...

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• 18 January

  European stocks take breather as focus shifts to positive earnings

  

  BLOOMBERG European stocks steadied on Thursday after the biggest three-day drop since October as traders re-calibrated their wagers on the timing and extent of interest rate cuts. Signs that European policy makers are converging around a June rate reduction helped calm markets, along with indications that Chinese state funds are coming to the rescue of equities battered by signs of ...

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• 18 January

  Apple to sell watches without oxygen feature after legal setback

  

  BLOOMBERG Apple Inc will begin selling versions of its Series 9 and Ultra 2 watches without a blood oxygen feature in the US, following a legal setback in its patent dispute with Masimo Corp. The company said that the tweaked models were expected to go on sale on Thursday at its retail outlets and online store. The new models will ...

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• 18 January

  Hyundai offers $7,500 cash bonus for EVs to match US tax credits

  

  BLOOMBERG Hyundai Motor Co will give as much as $7,500 in cash bonuses for electric-vehicle buyers in the US, seeking to keep its cars competitive with automakers qualifying for tax credits under President Joe Biden’s Inflation Reduction Act. The discounts apply to the Ioniq 5, Ioniq 6 and Kona Electric, and the month-long incentive will last through January 31, according ...

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• 18 January

  BMW’s Brilliance China partner considers selling JV stake, say sources

  

  BLOOMBERG Owners of BMW AG’s carmaking partner in China are considering options to raise funds, including selling the company’s stake in its joint venture with the German manufacturer, according to people familiar with the matter. Preliminary talks regarding Brilliance China Automotive Holdings Ltd’s 25% stake in its joint venture with BMW are ongoing, no final decision has been made and ...

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• 18 January

  BYD plans $14 billion investment in smarter car features

  

  BLOOMBERG BYD Co, the world’s largest maker of electric vehicles, will invest 100 billion yuan ($14 billion) to develop smart-car features, its founder and chief executive officer said. Wang Chuanfu didn’t give a specific time frame for the investment or more details. The move comes as the Chinese carmaker tries to narrow the gap with rivals making vehicles with driver-assistance ...

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• 17 January

  RAK Ruler receives Indian Consul-General

  

  RAS AL KHAIMAH/ WAM H.H. Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, received today at his palace in the Saqr bin Mohammed City, Satish Kumar Sivan, Consul-General of India in Dubai and the Northern Emirates. The RAK Ruler welcomed the Indian Consul-General, wishing him success in performing his duties and bolstering UAE-India ...

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• 17 January

  Global FDI flows in 2023 settle at around $1.37 trillion: UNCTAD

  

  GENEVA/ WAM The global foreign direct investment (FDI) had a modest increase of over 3% to reach an estimated $1.37 trillion in 2023, defying expectations as recession fears early in the year receded, and financial markets performed well. Global FDI flows increased, but economic uncertainty and higher interest rates affected global investment. The headline increase was mainly due to higher ...

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• 17 January

  ADCB broadens its regional presence through strategic expansion into Saudi Arabia

  

  ABU DHABI/ WAM Abu Dhabi Commercial Bank (ADCB) is establishing a strategic presence in Saudi Arabia, leveraging its strong balance sheet and sophisticated corporate banking capabilities to support a growing client base, and contribute to the deepening of regional economic relationships. ADCB has received an in-principle approval from the Kingdom’s Council of Ministers and will open a branch in Riyadh, ...

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• 17 January

  Dhai Dubai Light Art Festival reveals exciting programme at Expo City Dubai

  

  DUBAI/ WAM Dhai Dubai, the first-ever Emirati-led light art festival, has revealed an enlightening line-up of cultural activities, set to immerse visitors at Expo City Dubai and Al Wasl Plaza later this month. Created and produced by Expo City Dubai in partnership with AGB Creative, and supported by Dubai Culture and Arts Authority, Dhai Dubai invites visitors to engage with ...

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