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Dubai / WAM An initiative of the Dubai Future Foundation, AREA 2071 has hosted 20 global startups valued AED42.2 million to participate in two renowned global Accelerator Programmes. Maha Al Mezaina, Head of AREA 2071, reiterated the essential role played by emerging companies in shaping key future sectors, due to their capacity in coping with the rapidly changing global needs ...

Bloomberg Apple Inc has a backup plan if the US-China trade war gets out of hand. The Cupertino, California-based company’s primary manufacturing partner has enough capacity to make all iPhones bound for the US outside of China if necessary, according to a senior executive at Hon Hai Precision Industry Co. The Taiwanese contract manufacturer now makes most of the smartphones ...

Bloomberg India’s statistics may have been painting a far rosier picture of economic growth than the more modest reality of the past decade. The nation has held the crown of the world’s fastest-growing major economy until recently, but a new study by former Chief Economic Adviser Arvind Subramanian says the expansion was overestimated between 2011 and 2017. Rather than growing ...

Bloomberg Salesforce.com Inc., which makes America’s dominant sales-tracking software, agreed to buy Tableau Software Inc. in an all-stock deal valued at $15.3 billion that it said will help give customers more ways to analyse data. The acquisition of software maker will move Salesforce.com further away from its central business, marking a new era for the top seller of software for ...

Bloomberg Uber Technologies Inc. rival Bolt, formerly known as Taxify, has relaunched in London — nearly two years after its operating license was revoked by the city’s transit authority. The Estonian company, backed by Daimler AG and most recently valued at $1 billion, said it would compete in the UK capital by offering lower fares for riders, and by taking ...

Bloomberg The recent yield curve inversion has renewed speculation about a potential North American recession and prompted questions about how a contraction would affect households. Though it’s impossible to say for certain when, or even if, such an event will occur, several indicators suggest the pain would be more severe on the Canadian side of the border than in the ...

Bloomberg Hong Kong braced for rare strikes and further protests amid an escalating standoff over a controversial bill that would allow extraditions to mainland China. Local companies said they would suspend work or allow flexible office hours on June 12 to accommodate workers planning to demonstrate near the city’s Legislative Council, which will meet to debate amendments. The Hong Kong ...

DUBAI / WAM Enoc Group has secured a five-year $690 million term loan from a Chinese consortium of banks as China’s biggest financial institutions endorse the Group’s operational and financial health. The term loan will finance general corporate purposes as Enoc continues to fuel the local economy through its business divisions in exploration and production, supply and operations, terminals, fuel ...

ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan, has conferred the Order of Independence, First Class, on the Moazzam Ahmad Khan, Ambassador of Pakistan to the UAE, in recognition of his efforts during his tenure, towards the development and strengthening of friendly relations and cooperation between the two countries across all fields. His Highness Sheikh ...

Dubai / WAM Dubai FDI, the investment development agency of Dubai Economy, is set to embark on its latest investment mission to major cities in China as part of its strategic efforts to support the global infrastructure programme of the Belt and Road initiative. The agency will lead a delegation of government and business leaders to take part in the ...