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Bloomberg PG&E Corp’s financial woes have spiralled into a crisis of confidence on Wall Street and beyond after fallout from deadly wildfires hobbled the company’s credit rating and eviscerated more than $16 billion of market value. The embattled California power giant’s bonds were among the biggest decliners in the high-yield market. Protesters interrupted a California Public Utilities Commission meeting in ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, stated that the UAE, under the leadership of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, prioritises the quality of life of its citizens, while its government has prioritised housing and is achieving sustainability in this vital ...

RIYADH / WAM The Executive Office of Arab Information Ministers Council adopted the Emirati proposal for ‘Tolerance’ to be the Council’s intellectual theme in 2019, under the title “Arab Media’s Role in Promoting Tolerance”. The Council made the decision during its 11th ordinary session in Riyadh, Saudi Arabia, on Wednesday. The UAE was represented by Mansour Ibrahim Al Mansouri, Director ...

Dubai / WAM Nasdaq Dubai on Wednesday launched futures trading on the shares of 12 leading Saudi Arabian companies, in a significant step forward for the region’s capital markets. The move enables investors to gain from changes in the Saudi-listed companies’ share price by trading the futures on Nasdaq Dubai. The futures are designed to increase the appeal of regional ...

Dubai / WAM Dubai Exports, the export promotion agency of the Department of Economic Development (DED) in Dubai, participated in a series of events in Egypt, Ivory Coast and Nigeria as part of its efforts to promote UAE products and services across promising international markets and connect local trade to the best gateways in the African continent. The Dubai Exports ...

Bloomberg Donald Trump summoned the nation’s attention to the Oval Office for a prime time pronouncement on the border wall standoff at the centre of the government shutdown. Then, he offered nothing new. Instead, Trump used the president’s most symbolic and powerful perch — traditionally reserved for times of war or calls for national unity — to rattle off familiar ...

Bloomberg The growth engine for the world’s car industry has been thrown into reverse, with China recording the first annual slump in auto sales in at more than two decades and more pain predicted in 2019. Sales in the world’s biggest market fell 6 percent to 22.7 million units last year, the first annual decline in at least two decades, ...

Bloomberg China and the US wrapped up three days of trade talks, with people familiar saying their positions were closer on areas including energy and agriculture but further apart on harder issues. Beijing will be releasing a statement soon on the negotiations, Chinese foreign ministry spokesman Lu Kang said, adding that a one-day extension shows both sides are serious about ...

Bloomberg Siemens AG and Alstom SA are pushing ahead with the sale of train-equipment assets in a bid to salvage their rail merger amid European Union antitrust scrutiny, people with knowledge of the matter said. Companies including Hitachi Ltd, Wabtec Corp, Switzerland’s Stadler Rail AG and Thales SA submitted offers by a deadline earlier this month, the people said, asking ...

Bloomberg Fiat Chrysler Automobiles NV is nearing a settlement with the US Justice Department that would end a two-year criminal investigation into whether it knowingly sold diesel vehicles that violated clean-air rules, according to two people familiar with the matter. The resolution would include a financial penalty in line with Fiat Chrysler’s guidance to investors, one of the people said. ...