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Bloomberg Malaysia is in discussions with China-based contractors for compensation relating to pipeline projects worth 9.4 billion ringgit ($2.24 billion). The government is negotiating with China Petroleum Pipeline Engineering Co and Huanqiu Project Management Beijing Co on the total compensation to be paid by Suria Strategic Energy Resources Sdn, which was overseeing the projects, for the termination of the work, ...

Bloomberg The Trump administration is proposing tariffs on goods from countries found to have undervalued currencies, in a move that would further escalate its assault on global trading rules. The proposal, laid out in a Federal Register notice released, would let US-based companies seek anti-subsidy tariffs on products from countries found by the US Treasury Department to be engaging in ...

Bloomberg Robert Bosch GmbH agreed to pay 90 million euros ($100 million) to end a probe by German prosecutors into rigged diesel engines, following much more costly settlements by its customer Volkswagen AG. Bosch is being fined for “negligent breach of supervision duties,” the prosecutor’s office in Stuttgart said in an emailed statement. The company supplied about 17 million engine-control ...

Bloomberg German business confidence fell to the weakest in more than four years as the escalation of global trade tensions weighed heavily on outlook. Along with a survey showing manufacturing still contracting and new orders falling, it’s a reminder of the shaky situation Europe’s largest economy is in. Its car industry is in upheaval and industrial giants such as Thyssenkrupp ...

Bloomberg President Donald Trump has ordered the deployment of about 1,500 additional US troops and military hardware to the Middle East amid rising tensions with Iran. The troops will serve “mostly in a protective capacity,” Trump said as he departed the White House for Japan. The president’s decision comes after his administration said it had evidence Iran is threatening possible ...

Abu Dhabi / 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, witnessed the launch of a family-school application, Adheedak (Arabic for Your Assistant) that seeks ...

DUBAI / WAM Etihad Credit Insurance (ECI), signed a reinsurance agreement with the Arab Investment and Export Credit Guarantee Corporation, Dhaman, to support the growth and expansion of the UAE businesses. This agreement will further enhance the inter-Arab trade and UAE exports globally, in line with the country’s non-oil diversification strategy and vision 2021. The two sides will collaborate to ...

DUBAI / Emirates Business Emirates Institute for Banking and Financial Studies (EIBFS), a regional leader in banking and finance education and training, held an interactive workshop on ‘Financial Challenges in Banks’. The session drew the participation of over 270 senior representatives from over 20 banks and financial institutions. Conducted by Hussam A. Al-Abed, renowned financial, banking and cybercrime prevention trainer ...

Abu Dhabi / WAM Saif Mohammed Al Suwaidi, Director-General of General Civil Aviation Authority (GCAA), has officially inaugurated the “Abu Dhabi Air Accident Investigation Laboratory”, established by the Air Accident Investigation Sector (AAIS), at the authority’s headquarters. “The lab offers great potential for the Air Accident Investigation Sector to operate effectively and smoothly, based on data recorded by flight recorders. ...

Bloomberg The US crackdown on Huawei Technologies Co could make Apple Inc’s already troubled business in China even more difficult, hobbling iPhone sales in the world’s biggest smartphone market and disrupting the company’s supply chain, according to analysts. US President Donald Trump effectively banned US companies from working with Huawei. That’s sparked concern on Wall Street about potential retaliation by ...