June, 2023

• 4 June

  Dubai Islamic Bank launches DIB ‘alt’ for its customers

  

  DUBAI/ WAM Driven by the banking giants’ continuous quest for digital excellence and in line with its ambitious transformation strategy, the financial powerhouse announced on Sunday the launch of DIB alt, a full-fledged digital umbrella brand to house all of the bank’s digital offerings and capabilities under one roof. DIB ‘alt’ is not another bank, or another mobile banking app, ...

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• 4 June

  AD Ports Group inks 25 years pact with Crystal Offshore

  

  ABU DHABI / WAM AD Ports Group, the leading facilitator of global trade, logistics, and industry, has signed a 25 years agreement with Singapore based Crystal Offshore, a recognised one-stop logistics solution provider to the marine & offshore industry. Under the agreement’s terms, a 20,000 square metre plot of land and an associated quay wall in Khalifa Port will be ...

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• 4 June

  Sharjah’s SCCI successfully concludes 5-day trade mission to India

  

  SHARJAH / WAM The Sharjah Chamber of Commerce and Industry (SCCI) has successfully concluded its trade mission to India after five days of fruitful meetings and discussions with Indian business and industrial associations in New Delhi and Mumbai. The trade mission, organised by the Sharjah Exports Development Centre, visited Indian capital and commercial hub to discuss potential investment advantages and ...

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• 4 June

  India’s workers are trapped in a vicious cycle of coal, heat

  

  BLOOMBERG  Standing by vast, ash-coloured coalfields, miner Rabi Behera expressed few doubts about the job at hand. To cope with increasingly brutal temperatures, India has to keep its power grid standing— and for now that means digging up ever expanding quantities of the dirtiest fossil fuel. “It’s hard to survive without electricity during the summer,” he said, giant trucks rumbling ...

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• 4 June

  Wells Fargo seeks to settle mortgage case with mediation

  

  BLOOMBERG  Wells Fargo & Co is pursuing private mediation to settle claims of widespread discrimination against Black homeowners by denying them lower interest rates through refinancing and forcing them to pay more for loans. Lawyers for the bank and borrowers said they’ve agreed to work with a former federal judge to try to resolve a group of class-action lawsuits — ...

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• 4 June

  UBS mulls delaying Q2 results until August

  

  BLOOMBERG  UBS Group AG may delay releasing its second-quarter results until end-August when it could also provide an update on its plans for Credit Suisse Group AG’s local business, the Financial Times reported. UBS is due to report its earnings on July 25, but complexities include unfinalised details of government support in its emergency takeover of Credit Suisse and different ...

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• 4 June

  After month of pain, euro bulls look to Fed pause for relief

  

  BLOOMBERG  Investors who took out long positions in the euro could be in for some respite, even as a shaky outlook for the economy continues to stalk common currency. Slowing inflation and fading optimism about the region’s growth sent the euro to its worst month since April 2022. Short-term bets against the euro using currencies other than the dollar are ...

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• 4 June

  GM, Stellantis pay combined $363m for fuel efficiency targets

  

  BLOOMBERG General Motors (GM) Co and Stellantis NV paid a combined $363 million in civil penalties for failing to meet US fuel efficiency standards dating back to the Trump administration, according to filings with federal regulators. Stellantis paid more than $123 million in January for missing the mark with its 2018 model year lineup and in excess of $112 million ...

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• 4 June

  Laptop makers bet on better display tech to rekindle sales

  

  BLOOMBERG PC makers from Lenovo Group Ltd to Samsung Electronics Co are pinning their hopes for reviving laptop sales on upgraded displays. At the Computex show in Taiwan, every major local electronics brand showed off new laptop models with OLED displays, the same technology used in smartphones. Asustek Computer, Acer Inc, Gigabyte Technology Co and Micro-Star International Co all expanded ...

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• 4 June

  Everything Apple Plans to Show at WWDC: XR Headset, iOS 17 and More

  

  BLOOMBERG Apple Inc’s most significant product launch event in nearly a decade kicks off on Monday, when the company will introduce its first major new product category since the Apple Watch alongside multiple new Macs and software upgrades across its platforms. The event starts from the company’s Cupertino, California, campus on Monday, June  5 at 10 am PT/1 pm ET. ...

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