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Bloomberg Daimler AG is preparing a “comprehensive” cost-cutting program to secure profitability as the German automaker fights through a US-China trade spat, slowing demand in Europe and North America and surging expenses to develop electric vehicles. The Mercedes-Benz manufacturer is stepping up efforts to shore up margins and counter pressures that are unlikely to blow over anytime soon. After a ...

Abu Dhabi / WAM The Head of the Catholic Church His Holiness Pope Francis, and His Eminence Dr Ahmad el-Tayeb, Grand Imam of Al Azhar Al Sharif, departed the country following a three-day visit to Abu Dhabi. They were seen off at the Presidential Flight by His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and ...

Abu Dhabi / WAM His Holiness Pope Francis, the Head of the Catholic Church and Sovereign of the Vatican City, delivered a groundbreaking Papal Mass to more than 180,000 Catholics in the UAE. The scale of the event, which took place at Zayed Sports Stadium in Abu Dhabi, is unprecedented for an event of this kind in the Arabian Peninsula ...

Abu Dhabi / Emirates Business Abu Dhabi Fund for Development (ADFD), the leading national entity for international development aid, has allocated $21 million (AED77 million) to finance a specialised ophthalmology hospital in Mauritius as part of its commitment to boosting the healthcare sector in the island nation. HE Mohammed Saif Al Suwaidi, Director General of ADFD, and HE Mohamed Iqbal ...

Dubai / Emirates Business Dubai Cruise Tourism, a department of Dubai’s Department of Tourism & Commerce Marketing (Dubai Tourism), alongside its public and private sector partners welcomed cruise ship Oceana into Dubai for the debut of UK-based, P&O Cruises into the region as it homeports for the season. With Dubai as its official winter hub, the luxury vessel will commence ...

Bloomberg The US and South Korea reached a cost-sharing deal for American forces on the Korean Peninsula, relieving pressure on the seven-decade alliance after the Trump administration demanded that Seoul pay as much as 50 percent more. The State Department said in a statement that the US reached an agreement with South Korea on the so-called Special Measures Arrangement. The ...

Bloomberg India’s power retailers may need to start paying in advance for their electricity purchase in a bid to ease financial stress at generators. Concerned over delayed payments to generators, the federal power ministry has formed a panel to examine if distribution companies should pay generators in advance for electricity purchases, according to a power ministry document reviewed by Bloomberg. ...

Bloomberg In a twist to the tale of two rival billionaire brothers in India, a bankruptcy filing by Anil Ambani’s wireless carrier could have one clear winner — his elder sibling’s disruptive mobile phone unit. The process initiated in Mumbai, once admitted by the court, would leave Ambani’s Reliance Communications Ltd., or RCom, 270 days to repay debt or liquidate. ...

Bloomberg US and California officials agreed on one thing about auto emissions standards: they’re still miles from an agreement, with a crucial deadline just two months away. In separate comments, Sacramento and Washington’s top environmental regulators said they’ve yet to overcome a long-running impasse over the Trump administration’s proposal to cap auto emissions and fuel economy standards after 2020 and ...

Bloomberg Johnson & Johnson, the world’s largest maker of health-care products, has agreed to settle the bulk of consumers’ lawsuits alleging it sold defective artificial hips and misled patients about their dangers, according to a lawyer for the plaintiffs. “The parties have reached an agreement that hopefully will resolve most, if not all, of the litigation,’’ said attorney Mark Lanier, ...