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Dubai’s Amanat invests in US-based edtech firm BEGiN

The acquisition is Amanat’s first ever venture capital investment

Oil holds losses near $40 amid deteriorating demand outlook

Prices jumped 10 per cent last week after Saudi Arabia indicated it would defend the market

Abu Dhabi takes $615m stake in US LNG exporter

Houston-based Cheniere operates two export facilities: Corpus Christi in Texas and Sabine Pass in Louisiana

UAE, Bahrain sign historic peace accord with Israel in the US

According to the Abraham Accord signed on September 15, Israel will cease further annexation of Palestinian territories

US Secretary of State Mike Pompeo arrives in UAE

His visit to the UAE forms part of a broader Middle East tour

Apple makes Wall Street history by breaking $2 trillion barrier

The company has been buoyed by the broad adoption of mobile internet-connected devices, apps and other cloud services

Jim Hackett and Jim Farley Ford

Ford appoints Jim Farley to replace Jim Hackett as new CEO

Jim Farley will join the board of directors from October 1

Brooks Brothers

Menswear major and America’s oldest retailer, Brooks Brothers, goes bankrupt

The company listed assets and liabilities of at least $500m each in court papers

Saudi oil exports to US plunge to lowest level in 35 years

The kingdom has exported just one cargo to the US so far in June, equivalent to about 133,000 barrels a day

facial-recognition-faces

Amazon suspends use of facial recognition technology by US law enforcement for a year

Amazon said that the reason was to give the US Congress time to develop stronger regulations to govern the use of the technology

Bank of America acquires stake in Dubai’s Emirates NBD

The acquisition of a 100 million shares is worth around Dhs900m

Aramco backs New York fintech firm offering Islamic investments

Wahed Invest got the financing from Saudi Aramco Entrepreneurship Ventures unit as part of a $25m funding round

houston

UAE consulate in Houston issues advisory regarding tropical storm Cristobal

The consulate added that the storm, accompanied by heavy winds and rain, is expected on Saturday evening or Sunday morning

Google faces $5bn lawsuit on tracking Chrome users in ‘incognito mode’

The class action lawsuit demands damages of at least $5,000 for each person affected by Google Chrome’s privacy policy

George Floyd New York City

UAE consulate in New York issues advisory regarding George Floyd protests

Protests have erupted across several cities in the US following the death of 46-year-old George Floyd in Minneapolis last week

Samsung Money

Samsung Money debit card readies for summer launch

Reward points can be exchanged for cash which will be deposited into the customer’s Samsung Money by SoFi account

Boeing restarts 737 Max factory in step to jet’s comeback

The manufacturer is rolling out more than a dozen initiatives aimed at improving safety and quality on its 737 assembly lines

Abu Dhabi’s Waha to invest bulk of $200m in US stocks

Waha Capital posted a loss of Dhs616m for 2019

Dubai’s Operation Falalel to expand to New York, London, Paris

The restaurant brand expects to roll out its first unit in New York by Q2 2020

China to halve tariffs on $75bn US goods from February 14

Chinese tariffs on American goods from September 1 last year will be lowered, with the rate on some dropping from 10 per cent to 5 per cent

TikTok security flaws may have exposed user videos to hackers

A series of vulnerabilities have been identified in the social media phenomenon that cyber-attackers could exploit to manipulate user accounts and information

How the Gulf can win the US-China geopolitics game

The UAE is viewed as a gateway for around 60 per cent of Chinese exports to the Middle East

UAE issues travel alert in wake of California blaze

Advisory issued especially for those in Brentwood, Bel Air and Pacific Palisades

Canada export agency lifts “closed” status on Saudi Arabia-related business

Export Development Canada changed its position from “closed” to “open on a restricted basis”

Former Abraaj executive pleads guilty to US charges

Former managing partner Mustafa Abdel-Wadood was arrested in New York in April and released on bail

US approves secret nuclear power work for Saudi Arabia

The kingdom has previously stated it aims to build at least two nuclear power plants

Gulf countries reject US recognition of Golan Heights as Israeli

GCC nations said the territory was occupied Arab land, with Saudi Arabia and the UAE adding that the move is an impediment to peace

Lockheed gets $1bn down payment for Saudi THAAD missile system

The $15bn system is part of a broader $110bn arms package

Saudi’s Falih tells Trump ‘we are taking it easy’

US President Donald Trump Tweeted a request to oil producers on Monday to relax efforts to boost oil prices

World Bank President Jim Yong Kim

The president of the World Bank resigns

Jim Yong Kim’s resignation takes effect from February 1