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Abu Dhabi / Emirates Business The Executive Committee of the Abu Dhabi Exports Office (Adex) approved the allocation of AED 550 million ($150 million) to support the strategic expansion of the nation’s export businesses and continued diversification of the UAE economy. During the meeting, the committee discussed a number of requests to finance exports, as well as reviewed the strategies ...

Bloomberg Democratic presidential candidate Bernie Sanders said his competitor, Joe Biden, could beat President Donald Trump in November, but added that he would be the stronger general-election candidate. “We are the stronger campaign to defeat Donald Trump but you have not heard me say that I think that Biden cannot defeat Trump,” Sanders told reporters in Phoenix, Arizona, as he ...

Bloomberg China’s exports fell more than expected in the first two months of this year as the coronavirus outbreak led to extended holidays, depressed factory output, and blocked transport and movement across the country. Imports also declined, although increases in commodities purchases offset some of that. The drop in exports was a bigger-than-expected 17.2% in dollar terms, while imports declined ...

Bloomberg Thailand is hindering Chinese tourists because of the novel coronavirus outbreak, normally an unthinkable step for a country that relies on their spending for economic growth. The government signalled that it prefers arrivals from China, Hong Kong, Macau, South Korea, Iran and Italy to self-quarantine for 14 days to prevent the spread of the Covid-19 disease. They also have ...

Bloomberg Prime Minister Boris Johnson might be about to go after Britain’s “staggeringly rich.” There’s no full-scale attack of wealth coming, but the country’s myriad tax breaks — some of which mainly benefit the rich — could be targeted in next week’s budget by a government that needs every penny to fund the biggest spending spree in years. Local media ...

Bloomberg The Trump administration granted exemptions from tariffs for a range of medical products imported from China, including face masks and medical gloves. Among the products that won an exemption are medical masks by Medegen Medical Products, LLC., Cardinal Health exam gloves, and Medline Industries Inc.’s patient cleansing wipes. In its request to exclude masks from the 7.5% duty, Medegen ...

Bloomberg Elon Musk’s comments about taking Tesla Inc. private were “aspirational,” not fraudulent, the company argues in asking a judge to throw out a shareholder lawsuit over his infamous tweet from 1 1/2 years ago. Investors claim the Twitter post on August 7, 2018 — “Am considering taking Tesla private at $420. Funding secured” — was an intentional deception that ...

ABU DHABI / WAM The United Arab Emirates has coordinated the evacuation of Arab nationals from Wuhan City in China. The evacuees were received at the newly established Emirates Humanitarian City in the UAE, and will undergo medical testing and monitoring to ensure their health and safety. The move follows the directives of President His Highness Sheikh Khalifa bin Zayed ...

ABU DHABI / WAM A senior delegation from the Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) the world’s first graduate-level, research-based artificial intelligence university, discussed potential collaboration opportunities with Egypt’s educational institutions during a recent visit to the country. The visit — organised by Egypt’s Ministry of Higher Education and Scientific Research and the UAE Embassy in Cairo — ...

CAIRO / WAM Enoc Misr, a joint venture between Proserv Group and the UAE’s Emirates National Oil Company (Enoc) signed a Memorandum of Understanding (MoU) with local lubricant manufacturers to evaluate blending and manufacturing Enoc lubricants in Egypt. The move comes as part of Enoc Misr’s plans to maximise operational efficiency and ensure product availability in the local market. The ...