Middle East Apple fans will not have long to wait for new iPhone models

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Apple aficionados in the Middle East will not have long to wait before they get their hands on the new iPhone (AFP)
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Apple aficionados in the Middle East will not have long to wait before they get their hands on the new iPhone (AFP)
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Apple aficionados in the Middle East will not have long to wait before they get their hands on the new iPhone (AFP)
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Apple aficionados in the Middle East will not have long to wait before they get their hands on the new iPhone (AFP)
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Apple aficionados in the Middle East will not have long to wait before they get their hands on the new iPhone (AFP)
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Apple aficionados in the Middle East will not have long to wait before they get their hands on the new iPhone (AFP)
Updated 13 September 2018
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Middle East Apple fans will not have long to wait for new iPhone models

  • Apple aficionados in the Middle East will not have long to wait before they get their hands on the new iPhone
  • As befits the hype, glitz and glamor of an Apple launch, the company revealed the details of its new smartphone models

CUPERTINO, California: Apple aficionados in the Middle East will not have long to wait before they get their hands on what the company are calling the “most beautiful and advanced” iPhones.
As befits the hype, glitz and glamor of an Apple launch, the company revealed the details of its new smartphone models and a new smartwatch in Cupertino on Wednesday.
And technology-lovers will only have a few days to wait before they can pre-order the latest incarnations of the world’s most popular phone, with orders being taken from Sept. 14 and shipping for Saudi Arabia and the UAE starting on Sept. 21. iPhone addicts in Oman and Bahrain will have a week longer to wait, with the iPhones arriving in the two countries a week later on Sept. 28.
At the launch, Tim Cook confirmed the names of the new models — which had been leaked earlier in the day — as iPhone XS, XS Max and XR, as well as revealing release dates for global regions.
The major changes from previous models will be greater gearing toward internal upgrades rather than design changes, with all models improved with the fitting of the advanced A12 chip.
The new piece of kit is 50 percent more energy-efficient and faster than the previous processor, with apps loading 30 percent faster, too.
The A12 Bionic chip has an 8-core design — allowing it to run more advanced machine learning. At the launch, Apple called it a “breakthrough.”
The largest screen Apple has produced represents the firm’s attempt to feed consumer appetite for watching and recording videos, as well as taking photos.
The biggest news for most smartphone users was the announcement of the new phone’s dual-Sim capability, meaning users will have access to two phone numbers on the same iPhone at the same time.
But the price-tag of the top model will again have even the most ardent Apple fan wincing, with the XS Max going for an eye-watering $1,100 — $100 more than last year’s iPhone X. In the aftermath of the launch, questions were being asked about how high technology firms can push the prices of smartphones before consumers kick back.
Apple launched the iPhone X last year, and for the first time in more than a decade sales did not go as well as analysts had anticipated. But with Apple boosting the average iPhone selling price by nearly 20 percent, it still meant a bumper year for the tech firm.
By manufacturing more expensive iPhones, Apple has been able to boost profits despite falling demand due to people upgrading their phones less frequently. iPhones fetched an average price of $724 during the April-June period this year, a 20 percent increase from a year earlier. This time around, the iPhone XS will stay at the $999 mark while the iPhone XR will use cheaper materials and sell for about $750.
Apple also announced a new Apple Watch, which will move further into medical device territory. It has a larger screen and a built-in sensor that can detect irregular heart-rates and perform an electrocardiogram, as well as detect when a user has fallen.


Careem looks to raise up to $200 million in China

Updated 20 November 2018
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Careem looks to raise up to $200 million in China

  • Investment bank China International Capital Corporation (CICC) is advising Dubai-based Careem, but it was not immediately clear when or if a deal would be finalized
  • Careem said in October it had secured $200 million in a new funding round from existing investors

HONG KONG: Careem, Uber’s main Middle East rival, is looking at raising between $100 million and $200 million from Chinese investors, a source with direct knowledge of the matter told Reuters.
Investment bank China International Capital Corporation (CICC) is advising Dubai-based Careem, but it was not immediately clear when or if a deal would be finalized, the source said, adding there was a lack of familiarity and interest among Chinese investors in Middle Eastern start-ups.
Beijing-based CICC and Careem both declined to comment.
Reuters reported on Monday that CICC and New York-based investment bank Jefferies were both advising Careem on potential investment options and capital raising, including a possible Middle East M&A deal with Uber.
Careem, which counts German car maker Daimler and China’s largest ride-hailing company DiDi Chuxing among its other backers, competes head-to-head with Uber in most of the major cities in the Middle East.
Careem said in October it had secured $200 million in a new funding round from existing investors, and that it expected to raise more to finance expansion plans.
That investment, combined with previous fund raising and company growth into new markets and segments, gave Careem an estimated valuation of more than $2 billion.
Reuters reported in March that Careem was in early talks to raise as much as $500 million.