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Bloomberg The Senate sent the months-long impeachment inquiry into President Donald Trump to its final stages with a vote to acquit the president set for Wednesday, after Republicans defeated Democrats’ efforts to call new witnesses. Senators will hear closing arguments on Monday from lawyers for both sides, then will have two days for debate before voting at 4 pm on ...

Bloomberg India’s finance minister slashed taxes for individuals and widened budget deficit targets for the current and next fiscal years to help spur a slowing economy. The government will miss its deficit goals for a third year, pushing the shortfall to 3.8% of gross domestic product from a planned 3.3% in the year ending March, finance minister Nirmala Sitharaman said ...

Bloomberg A decline in South Korean exports worsened in January despite signs of green shoots in global trade as the Lunar New Year holiday reduced the number of working days at the end of the month. Exports shrank 6.1% from a year earlier, following a 5.2% drop in December, trade ministry data showed on Saturday. Economists had forecast an 8.6% ...

Bloomberg Forget about clinging to hopes that China, the world’s largest car market, will recover from its unprecedented two-year slump anytime soon. Expectations were already bleak as the year began, with IHS Markit predicting a 10% drop in first quarter production. Now, the influential research firm sees a scenario in which the coronavirus spreading rapidly across the country triggers a ...

Bloomberg The UK has left the European Union (EU) after almost half a century of membership, setting the stage for 11 months of potentially fraught talks that will determine whether the two sides can avert a chaotic divorce. There were no bongs from Big Ben to mark the moment of Britain’s departure from the bloc, but prime minister Boris Johnson ...

Bloomberg The US lifted sanctions against a unit of China’s biggest shipping company that was accused of hauling Iranian crude in violation of American restrictions. According to a notice posted on the Treasury Department’s website in Washington, sanctions were removed. In September, restrictions were placed on the Dalian units of China COSCO Shipping Corp, sending freight rates soaring as traders ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Wednesday inaugurated Al Wasl Plaza, the heart of the Expo 2020 Dubai site. Their ...

Abu Dhabi / WAM The UAE Financial Intelligence Unit (FIU) has announced the signing of a Memorandum of Understanding (MoU) with the Financial Investigation Department in the Kingdom of Bahrain and the Financial Information Centre in the Republic of Namibia, during the Egmont Group of Financial Intelligence Units meetings in Balaclava, Mauritius, on Wednesday. The MoU was signed by Ali ...

ABU DHABI / WAM Homegrown UAE aviation and aerospace products made and delivered across the world by Strata to some of the industry’s biggest players, including Boeing and Airbus, will now carry the UAE Nation Brand’s logo and ‘Make it Happen’ slogan. Strata and the UAE Nation Brand also announced that the logo and slogan will appear at several Strata ...

FUJAIRAH / WAM Oil product stocks in the Middle Eastern hub of Fujairah climbed to a five-week high, led by a surge in jet fuel and other middle distillate stocks, data released Wednesday by the Fujairah Oil Inventory Zone (FOIZ), showed. Total stocks rose 1.2 percent week on week to 21.561 million barrels, the highest since December 23, with middle ...