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Bloomberg Automakers’ sales soared in the second quarter as consumers snapped up sport utility vehicles and pickups, but thin inventories created by the global semiconductor shortage are tempering the pace of the industry’s recovery. General Motors Co, Toyota Motor Corp and others said that their sales soared in the most recent quarter, buoyed by pent-up demand for vehicles as Americans ...

 Bloomberg Nintendo Co announced a new Switch console for release on October 8, a long-awaited $350 gadget likely to stimulate a wave of new software and holiday season sales. The new device marks the first major hardware upgrade to the console originally released in 2017 for $299. Its key upgrades are a larger 7-inch OLED screen and a doubling ...

Bloomberg BMW kicked off assembling its latest electric car, using the occasion to tout green credentials it hopes will appeal to buyers and regulators who increasingly demand sustainable products. The German automaker started series production of the battery-powered iX SUV at its Dingolfing plant near Munich, which sources hydroelectric power from nearby rivers. The model is expected to go on ...

Bloomberg Twitter Inc pledged to “fully comply” with India’s new internet regulations, caving in a dispute with the government over rules that critics say curtail privacy and free speech. The US social media giant has appointed an interim chief compliance officer, will name a grievance officer by July 11 and set up an India office in eight weeks, a lawyer ...

DUBAI / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, stressed that the Expo 2020 Dubai will be a global platform for foreseeing a future full of opportunities for generations to come. The UAE, which has a unique international developmental legacy established by the late Founding Father, Sheikh Zayed bin Sultan Al ...

Abu Dhabi / WAM Abu Dhabi National Energy Company PJSC (Taqa) and Abu Dhabi Ports (ADP) announced on Wednesday they are discussing the development of an industrial scale green hydrogen to ammonia export project in Abu Dhabi. A partnership on a green hydrogen to ammonia project on this scale between Taqa and Abu Dhabi Ports, would be a significant step towards ...

DUBAI / WAM Over the last 15 years, Dubai’s Roads and Transport Authority (RTA) has undertaken roads and transport projects worth more than AED145 billion, stated Mattar Mohammed Al Tayer, Director-General, Chairman of the Board of Executive Directors of the Roads and Transport Authority, (RTA), Commissioner-General for the Infrastructure, Urban Planning and Wellbeing Pillar in Dubai. This milestone was achieved ...

Abu Dhabi / WAM A team of Emirati entrepreneurs launched first satellite to track wildlife in UAE (Ghalib). Developed by Emirati firm Marshall Intech, the satellite was successfully launched on SpaceX Falcon-9 rocket at Cape Canaveral Space Force Station, Florida. The satellite entered its orbit, 550 km above sea level. Equipped with advanced technologies, Ghalib satellite allows researchers to track ...

Dubai / WAM DP World, UAE Region, the leading smart trade enabler, and Petrochem Middle East, the largest chemical distributor in the Middle East and Africa, signed a 30-year lease agreement that expands its business in the region. Petrochem Middle East will invest between $80 million to $90 million in developing a chemical terminal on Quay 7, adjacent to the ...

Bloomberg The European Union (EU) proposed a swathe of new rules to bring the world of finance in line with its ambitious goal to make the region carbon neutral by the middle of the century. The European Commission wants tighter measures on banks and credit rating agencies to better reflect the risks climate change poses to the financial system. The ...