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Bloomberg China’s response to US tariffs aims to hit the Trump administration right in its natural resources. The world’s largest commodities consumer said it will levy a first round of tariffs on $34 billion worth of US agriculture products, as well as automobiles, starting from July 6. Another $16 billion in goods, including coal and oil, will be subject to ...

Bloomberg Samsung Electronics Co. was told to pay $400 million after a federal jury in Texas said it infringed a patent owned by the licensing arm of a South Korean university. Samsung pledged to appeal. Qualcomm Inc. and GlobalFoundries Inc. also were found to have infringed the patent but weren’t told to pay any damages to the licensing arm of ...

Bloomberg Apple Inc must persuade a US trade judge that iPhones containing Intel Corp chips should be allowed into the country, even if they infringe a Qualcomm Inc patent. That’s the challenge facing the world’s largest publicly-traded company, laid out in a US International Trade Commission hearing in Washington, part of a long-running legal battle between Apple and Qualcomm. Staff ...

Bloomberg US factory production fell in May by the most since January 2014, weighed down by fewer truck assemblies and still consistent with a steady outlook for manufacturing, Federal Reserve data showed. Factory output fell 0.7% (est. unchanged) after rising an upwardly revised 0.6%. Total industrial production, which also includes mines and utilities, decreased 0.1% (est. 0.2% rise) after an ...

Bloomberg A slew of companies have sprung up to make the smarts, sensors and other integral systems for self-driving cars. Here comes one to tell these cars where to go. Startup RideOS said that it has raised $9 million led by venture firm Sequoia Capital and reached a partnership with a division of Ford Motor Co. Started by two former ...

MAKKAH / WAM The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud received in Makkah His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation. Sheikh Abdullah bin Zayed conveyed to King Salman the greetings of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, His Highness Sheikh Mohammed bin Rashid ...

DUBAI / Emirates Business Dubai Airport Freezone Authority (Dafza), one of the UAE’s leading free zones, announced a new strategic partnership with Daegu Gyeongbuk Free Economic Zone Authority (DGFEZA) in South Korea. The Memorandum of Understanding (MoU) will aim to increase collaboration between the two parties and expand bilateral trade between the free zones. The MoU was signed in the ...

Abu Dhabi / WAM Since the onset of its military operations in support of the internationally recognised government in Yemen, the Saudi-led Arab Coalition has been supportive of the relief operations undertaken by different UN and international humanitarian organisations in the country. The myriad partnerships and agreements concluded by the UAE and Saudi Arabia with several global organisations to facilitate ...

Abu Dhabi / WAM The UAE will participate in the United Nations Conference on the Exploration and Peaceful Uses of Outer Space, ‘UNISPACE +50’, in the Austrian capital, Vienna, which will be held between June 18-21. The country will participate through a high level delegation from the UAE Space Agency, led by Dr Ahmad bin Abdullah Humaid Belhoul Al Falasi, ...

Bloomberg Toyota Motor Corp. is making the largest ever bet by an automaker on ride hailing as it embraces new businesses that threaten to disrupt the industry’s traditional model of vehicle ownership. The world’s most profitable car manufacturer is investing $1 billion in Singapore’s Grab Holdings Inc., valuing Southeast Asia’s largest car-hailing service at just over $10 billion, according to ...