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Bloomberg Singapore regulators fined Uber Technologies Inc. and Grab S$13 million ($9.5 million) for antitrust violations after the Asian ride-hailing giant acquired its US rival’s regional operations. Effective fares in the city-state rose between 10 percent and 15 percent after the “anti-competitive merger,” the Competition and Consumer Commission of Singapore said in a statement. While the watchdog didn’t nullify the ...

Bloomberg North Korea signaled it wants to bring in investments from South Korean companies to help modernise the secluded country, according to one of the business chiefs that went to Pyongyang last week. North Korea wants to have economic cooperation and technical assistance from the South, Sohn Kyung-shik, the 79-year-old co-chairman of CJ Group and the head of the Korea ...

Bloomberg China dashed prospects for a near-term resolution to the trade war with the US, warning President Donald Trump his threats of further tariffs are blocking any potential negotiations. The response, which came just over an hour after the US imposed new duties on $200 billion in Chinese goods on Monday, underscores a deepening gulf between both governments in a ...

Bloomberg With Miami still on Amazon.com Inc.’s short list for a new headquarters, entrepreneurs gathered at the Endeavor Miami ScaleUP Summit to assess the city’s prospects as a technology hub. The takeaway? Amazon or not, most speakers thought the city was uniquely placed to benefit from its location between US and Latin American business hubs, as long as it could ...

Bloomberg Willi Breuckmann could have gone for the BMW motorcycle—it was a comfortable and affordable machine. And it made sense for him to stick with a ride made in his own country, Germany. Instead, he chose a Harley-Davidson. The Road King. “It comes down to a feeling,” what the Germans call “ein Gefühl,” said Breuckmann, a 54-year-old web developer who ...

DUBAI / WAM Millions of people from around the world will have the chance to make meaningful contributions to global development goals at Expo 2020 Dubai’s Opportunity Pavilion, the final major design element to be unveiled ahead of the next World Expo. Complementing Expo 2020’s two other Thematic Pavilions, which are inspired by the subthemes of Mobility and Sustainability, the ...

Dubai / WAM The Dubai Chamber of Commerce and Industry will head a new working group, which will be responsible for engaging various public and private sector stakeholders and tackling a variety of banking challenges faced by SMEs, startups and entrepreneurs in Dubai. The announcement of the new working group was among the key recommendations outlined by industry experts who ...

Abu Dhabi / WAM The Executive Committee of the Abu Dhabi Executive Council has revealed the details of 10 initiatives, as part of the society pillar of the Abu Dhabi Development Accelerator Programme ‘Ghadan 21’. These initiatives fall under three key verticals, namely, education and employment, housing and communities, and social support. Building on its continuous efforts to spur job ...

Dubai / Emirates Business Emirates on Sunday operated a special one-off A380 service to Riyadh in celebration of the Kingdom of Saudi Arabia’s 88th National Day. Upon landing at 1550hrs at King Khalid International Airport, the aircraft was met with a ceremonial water cannon salute. The A380 one-off service, which operated as a full flight of 519 passengers, was proudly ...

Bloomberg Aides for UK Prime Minister Theresa May have begun contingency planning for a possible snap election in November, the Sunday Times reported. Two senior members of her political operation began “war gaming” an autumn vote in a bid to win public backing for a new Brexit plan. One person in her inner circle told cabinet members she’ll probably stand ...