L’Oréal Middle East launches programme to support UAE’s Covid-19 relief efforts

More than 84,000 essential and personal care products worth Dhs4m have been donated to NGOs and hospitals

saudi arabia riyadh

Saudis cut July oil supply to some Asian buyers by up to 40%

The cuts were widespread across the region from South Asia and Southeast Asia to some parts of North Asia

Goldman banker moving from Dubai to London in latest change to Mideast lineup

Fabrice Francois will join Goldman’s mid-market advisory franchise, known as the cross markets group

TAIWAN-TECHNOLOGY-COMPUTEX

Computex 2020 show cancelled, next edition to be held in 2021

The organisers cited ongoing worldwide travel restrictions as one of the main reasons for cancelling the show

Oil falls for a third day with second-wave virus risks in focus

Futures in New York fell below $35 a barrel after losing 8.3 per cent last week

Hyundai to donate medical equipment worth $2.4m to countries in MEA

Over 603,000 items including face masks, hand sanitisers, protective equipment and 43 ambulances will be donated to 37 countries

sony playstation5

All you need to know about the new Sony PlayStation 5

The console is expected to debut in North America towards the end of this year

Oil dives the most in six weeks, exposing fragile recovery

The market is grappling with record high US oil inventories and an uneven demand rebound

Missiles in 2019 Saudi oil attacks came from Iran, UN says

Missiles and a swarm of drones set off fires at the crude processing plant in Afif in May 2019, causing extensive damage and causing a spike in global oil prices

Lockdowns may have helped prevent half a billion coronavirus cases

The virus has now caused some 7 million reported cases of Covid-19, with more than 400,000 fatalities

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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

Emirates announces four repatriation flights to Cairo from Dubai

The flights will depart from Dubai to Cairo on June 14, 18, 19 and 21

Twitter will prompt some users to read before retweeting

The prompt will only apply to Twitter users on the Android mobile operating system for now

honda-hq

Cyber-attack forces Honda to halt production at a few of its factories

Investigators believe that the virus was a type of ransomware called Snake

Ralf Brandstätter volkswagen

Ralf Brandstätter appointed as Volkswagen brand CEO

He previously occupied the position of COO of Volkswagen Passenger Cars

Four MENA IPO deals raise $814.2m in Q1 2020

Globally, 235 IPOs raised $28.5bn in Q1 2020, compared to $15.1bn in Q1 2019

Deutsche Bank’s head of EMEA to exit the company

Ashok Aram, who also heads the firm’s international private and commercial bank operations, is departing for personal reasons

Oil retreats toward $38 on signs US crude stockpiles expanded

Futures dropped 1.9 per cent in New York, erasing almost all of the gains from the previous session

Bank of America acquires stake in Dubai’s Emirates NBD

The acquisition of a 100 million shares is worth around Dhs900m

Uber’s Middle East unit Careem sees recovery after 80% slump

According to the CEO, Careem has ruled out further job cuts after reducing staff by 31 per cent in May

Google says China, Iran targeted American presidential campaigns

Google has alerted the respective campaigns and law enforcement agencies

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

Revealed: Top 10 companies in the Middle East in 2020

In this year’s Forbes list of the Middle East’s Top 100 Companies 2020, Saudi Arabia led the pack with 33 entries

Video Conferencing Software Zoom

Zoom to add end-to-end encryption feature, unavailable to free users

The company says that it has done so to offer security officials the option to intercept calls if the service is being used for illegal purposes

OPEC+ extends oil cuts in win for Saudi-Russian alliance

All the member nations signed off on a new deal for a production cut of 9.6 million barrels a day next month

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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

Worst may be over for biggest Arab economies as businesses adapt

Following a pandemic-driven plunge, non-oil private sector activity improved in Saudi Arabia, Egypt and the United Arab Emirates

Global smartphone sales down 20% y-on-y in Q1 2020

Nearly all the major phone manufacturers, except Xiaomi, recorded declining sales

aston-martin-dbs-superleggera-4

Aston Martin appoints SentinelOne as official cybersecurity partner

The cybersecurity firm’s endpoint protection platform will help secure the carmaker’s manufacturing, headquarters, supply chain, and field offices