The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.

Bloomberg Apple Inc. has begun early work on an iPhone with a foldable screen, a potential rival to similar devices from Samsung Electronics Co. and others, though it’s planning only minor changes for this year’s iPhone line. The Cupertino, California-based company has developed prototype foldable screens for internal testing, but hasn’t solidified plans to actually launch a foldable iPhone. The …

Bloomberg Facebook Inc.’s planned smart glasses will arrive “sooner than later” in 2021, but won’t feature the kind of digital overlay technology that is associated with augmented reality, according to hardware chief Andrew Bosworth. The glasses, which are being built in partnership with Ray-Ban and parent Luxottica Group, will connect to a device — though users won’t be able to …

Bloomberg BlackBerry Ltd. said it’s settled a dispute with Facebook Inc. over patent royalties for terms that weren’t disclosed. “We have resolved our disputes pursuant to a confidential agreement and have no further comment,” BlackBerry spokeswoman Karen Clyne said in an email. BlackBerry sued Facebook in 2018, claiming the social media giant was using BlackBerry inventions in its popular messaging …

ABU DHABI / WAM The UAE stressed that it is looking forward to the de-escalation of the conflict between Sudan and Ethiopia, noting its concern for the situation in the Al Fasha border area. The UAE also highlighted the key role of both countries in ensuring the stability and prosperity of Africa and the entire region. In its statement, the …

BAHRAIN / WAM Investcorp, a Bahrain-based asset manager that counts Mubadala Investment Company as its biggest shareholder, announced on Wednesday that its portfolio company, Calligo Holdings Limited, an end-to-end managed data services provider, has acquired Network Integrity Services (NIS). Network Integrity Services is a UK-based IT managed services and technology-led solutions provider with locations in Manchester, Birmingham, Leicester and Hemel …

Bloomberg Oil crept higher, with a demand increase from cold weather the latest addition to a rally that has pushed crude to a 10-month high. Demand could get a boost of at least 1 million barrels a day, Goldman Sachs Group Inc said, as frigid temperatures in Asia and Europe sent other energy markets soaring. In Japan, power generators have …

Bloomberg Alimentation Couche-Tard Inc, the Canadian convenience-store operator that owns the Circle K chain, is exploring a takeover of French grocer Carrefour SA, a deal that would create a trans-Atlantic retail giant. Couche-Tard said it has started “exploratory discussions” on a friendly deal with Carrefour, confirming an earlier Bloomberg News report. There’s no certainty the talks will lead to a …

Bloomberg British Airways Plc faces the largest privacy class-action lawsuit in UK history over its 2018 customer data breach. More than 16,000 victims have now joined a case seeking compensation from the airline. They could claim 2,000 pounds ($2,724) each, according to PGMBM, the law firm representing the claimants. “We trust companies like British Airways with our personal information and …

Bloomberg Some analysts are turning even more bullish on India’s best-performing large-cap stock in 2020. In just about two weeks, at least four brokerages have raised their price targets on Divi’s Laboratories Ltd., one of the top producers of active pharmaceutical ingredients (API), with Jefferies India Pvt.’s estimate — which targets a 21% gain over the next 12 months from …

Bloomberg The dollar strengthened, while European stocks and US equity futures fluctuated as investors focused on comments from the Federal Reserve and European Central Bank (ECB) about outlook for monetary stimulus. In Europe, governing council member Francois Villeroy de Galhau said the ECB will keep an easy stance for as long as needed, and US investors took comfort from remarks by …