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Bloomberg China’s top security regulator sought to ease concerns about burgeoning stock-market volatility, after the wild price swings capped the worst three-week rout for mainland equities in more than a year. The recent gyrations were due to “external factors,” but these are not the dominant elements in China’s stock-market development, said Yi Huiman, chairman of China Securities Regulatory Commission, in ...

Bloomberg Thyssenkrupp AG announced a dramatic U-turn in corporate strategy, saying it will take its elevator business public and abandon a plan to split in two. The shares surged the most on record after Chief Executive Officer Guido Kerkhoff said that the new proposal could also lead to the elimination of as many as 6,000 jobs. Kerkhoff’s reversal comes just ...

Bloomberg Canada’s economy posted record job gains in April, along with a pick-up in wages, in the strongest sign yet the nation’s economy has emerged from a soft patch. Employment rose by 106,500 in April, Statistics Canada said in Ottawa, the biggest one-month increase in data going back to 1976. Economists had forecast employers would add about 12,000 positions. The ...

Bloomberg BT Group Plc’s new boss Philip Jansen kept the phone company’s dividend in the face of declining profits while committing to the turnaround begun by his predecessor. Jansen said earnings would fall this year and BT needed to be “more competitive” as he laid out plans to accelerate a fibre network rollout. The dividend pledge was a relief for ...

Bloomberg Venezuelan opposition leader Juan Guaido told an emissary to meet with US military officials in a bid to establish “direct” cooperation, a signal he’s warming to the idea of intervention by force after months of failed attempts to topple President Nicolas Maduro. Guaido told supporters during a rally in Caracas that he’s sending his envoy in Washington, Carlos Vecchio, ...

Abu Dhabi / Emirates Business Abu Dhabi National Exhibitions Company (Adnec) on Saturday announced that it has signed a strategic partnership with Etihad Airways appointing Hala Abu Dhabi, the Destination and Leisure Management division of Etihad Airways, the national airline of the UAE, as the official travel and destination management partner of its key events. Under the strategic partnership, Hala ...

DUBAI / WAM The Ministry of Climate Change and Environment, MOCCAE, the Ministry of Foreign Affairs and International Cooperation (MoFAIC), and the Environment Agency – Abu Dhabi (EAD), have launched the joint ‘Al Maha Diplomacy’ initiative to preserve local biodiversity. As part of the initiative, the three entities seek to introduce the international community to the UAE’s flora and fauna ...

Abu Dhabi / WAM The Abu Dhabi Fund for Development (ADFD), has delivered a lecture at the Emirates Diplomatic Academy (EDA), in Abu Dhabi, to highlight the Fund’s role in promoting socio-economic development in developing countries. The session also focused on ADFD’s own contribution to achieving the UN’s Sustainable Development Goals (SDGs). Delivered by Fatima Al Balooshi, Media Advisor at ADFD, the ...

Sharjah / WAM More than 100 chairpersons and members of business councils as well as foreign investors interested in setting up businesses at the Sharjah International Airport Free Zone (Saif Zone), met to discuss the zone’s high-end services and incentives. The meeting was organised by Saif Zone and attended by representatives of multinational companies including Marian Carella, Chairman of Philippine Business ...

Bloomberg President Donald Trump said that the US will boost its purchases of domestic farm products for humanitarian aid in an effort to offset lost demand from China as trade tensions flare between the nations. Trump said on Twitter that the US will use its money from the tariffs to buy American agricultural products “in larger amounts than China ever ...