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Bloomberg Volkswagen AG is stepping up the pace of its digital transformation with a plan to pool some 5,000 digital experts into a single unit that will develop “vw.os,” a uniform software operating system across all new models. Chief Executive Officer Herbert Diess has mapped out a “massive expansion” in software and digital investments, and the manufacturer earlier this year ...

Bloomberg Infineon Technologies AG raised about 1.55 billion euros ($1.74 billion) in a capital increase to help finance its acquisition of Cypress Semiconductor Corp. The German chipmaker, which analysts have said may be paying too much for its US rival, sold about 113 million new shares at 13.70 euros each, the company said on Tuesday in a statement. The price ...

DUBAI / WAM A high-level joint business and professional mission from China and Hong Kong have congregated in Dubai for a two-day business programme that focused on cooperation and investment opportunities in the UAE. The mission, co-organised by the Commerce and Economic Development Bureau of the Hong Kong Special Administrative Region (HKSAR), and the Ministry of Commerce of the People’s ...

ABU DHABI / WAM SALT – a global thought leadership forum fostering collaboration at the intersection of finance, technology, and geopolitics – has announced that it will bring the global thought leadership forum to Abu Dhabi later this year in strategic partnership with Abu Dhabi Global Market (ADGM). SALT Abu Dhabi, set to take place from November 19-21, will gather ...

Abu Dhabi / WAM The Abu Dhabi National Oil Company (Adnoc) on Monday announced a new strategic partnership with OCI N.V, which is a global producer and distributor of natural gas-based fertilisers and industrial chemicals, headquartered in the Netherlands. The partnership will see Adnoc combine its fertiliser business, Adnoc Fertilisers, into OCI’s Middle East and North Africa (Mena) nitrogen fertiliser ...

MOCHA / WAM With the support of the UAE, a project to increase water production capacity was launched in Mocha, on Yemen’s Red Sea Coast. It will serve more than 30,000 residents of the city and neighbouring areas. Mohammed Al Junaibi, Director of Humanitarian Affairs for the Emirates Red Crescent, ERC, in Yemen, said that the project will involve the ...

Bloomberg Iran warned European nations on Monday that it would breach in 10 days the landmark 2015 nuclear agreement unless they take action to alleviate the pressure of tightening US sanctions in the coming weeks. The spokesman for Iran’s atomic energy agency, Behrouz Kamalvandi, said the country would exceed a cap on stockpiles of low-grade uranium on June 27 and ...

Bloomberg Huawei Technologies Co. is preparing for a drop in international smartphone shipments of 40 million to 60 million as the Trump administration’s blacklisting hammers one of the Chinese tech giant’s most important businesses. China’s largest technology company is crunching internal estimates and exploring options including pulling the latest model of its marquee overseas label, the Honor 20, people familiar ...

Bloomberg Some users of Yahoo Japan Corp. are rising up against Japan’s biggest web portal after the rollout of a new rating system that’s being compared with a social-scoring initiative in China. The 48 million people with a Yahoo! Japan ID will have to opt-out within a privacy settings webpage if they don’t want to be rated. The score is ...

Bloomberg European financial technology firms, including TransferWise Ltd. and German banking startup N26 Bank GmbH, are embracing plans by US tech giants like Facebook Inc. to push into digital currencies and payments, brushing off potential rivalries. Speaking at Bloomberg’s Sooner Than You Think conference in London, Taavet Hinrikus, the chairman and co-founder of TransferWise, said he welcomed plans by Facebook ...