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ABU DHABI / WAM The UAE Government has announced granting long-term visas for the top 100 start-ups shaping the fourth industrial revolution. The 100 Arab start-ups were selected at the World Economic Forum on the Middle East and North Africa, held in Jordan from April 6-7. The two-day forum witnessed for the first time bringing together 100 emerging companies from ...

Abu Dhabi / WAM The Small and Medium Enterprises Exhibition (SME Expo), will kick-off in the nation’s capital, Abu Dhabi this April. The exhibition, held under the patronage of Sultan bin Saeed Al Mansouri, Minister of Economy and Chairman of the UAE SME Council, will take place on April 29-30 at the Abu Dhabi National Exhibition Centre (Adnec). The event ...

DUBAI / WAM The number of customs declarations carried out by Dubai Customs had reached 78 percent of the overall transactions carried out by the customs authority. According to a press statement, out of the total of 9.6 million transactions undertaken by Dubai Customs in 2018, 7.5 million were customs declarations. Around 98 percent of these declarations were completed in ...

Bloomberg For SoftBank Group, $100 billion isn’t enough. The Japanese conglomerate, which has reshaped the technology startup landscape with its Saudi-backed Vision Fund, is in talks with investors to add as much as $15 billion more to its already-massive fund, said people familiar with the discussions. In about two years, the Vision Fund has invested more than $70 billion in ...

Bloomberg Samsung Electronics Co reported its worst operating-profit drop in more than four years, buffeted by falling memory-chip prices and slowing smartphone sales. Operating income fell 60 percent to about 6.2 trillion won ($5.5 billion) in the three months ended in March, according to preliminary results released from the Suwon, South Korea-based company. That was the biggest decline since a ...

Bloomberg Embattled Canadian engineering firm SNC-Lavalin Group Inc. agreed to sell a 10 percent stake in a Toronto-area toll highway for as much as C$3.25 billion ($2.43 billion), stepping up efforts to bolster its balance sheet after two profit warnings and an ongoing political controversy battered its shares. The sale to OMERS Infrastructure pension fund will reduce SNC’s stake in ...

Bloomberg BMW AG said it’s likely to take a charge exceeding 1 billion euros ($1.1 billion) related to the European Union’s investigation into German automakers allegedly colluding to delay the rollout of cleaner-emission cars. The provision will drag on first-quarter financial results and reduce automotive profit margin this year to as low as 4.5 percent, according to a statement. BMW ...

Bloomberg Tesla Inc. shares plummeted as a record decline in deliveries during the first quarter stoked concern of slackening demand for the Model 3 sedan that started selling less than two years ago. The electric-car maker delivered 63,000 vehicles in the three months that ended in March, down from 90,966 in the fourth quarter. Tesla shares sank as much as ...

Bloomberg Forces loyal to the internationally recognised government in Tripoli conducted air strikes to try to halt a march on the capital by strongman Khalifa Haftar’s troops, officials said. Fighter jets struck positions near Tripoli held by Haftar’s self-styled Libyan National Army on Friday and on Saturday, LNA media official Aguila Saber and local city official Hamed al Nuwaiser said. ...

Abu Dhabi / WAM The UAE has changed the direction of its diplomatic and government efforts to promote the concept of tolerance, by adopting ‘Tolerance Accelerators’, which seeks to reduce extremism and intolerance. The terrorist attacks against two mosques in New Zealand, which resulted in 50 casualties, confirmed the importance of the ‘Human Fraternity Document’ signed by Pope Francis, Head ...