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Bloomberg Several major pharmaceutical companies lowered their spending on lobbyists in the second quarter of 2018, a time of uncertainty as President Donald Trump’s administration continued its campaign to lower drug costs for consumers. Pharmaceutical Research and Manufacturers of America spent $5.54 million between April and June, down 7.7 percent from the same period last year, according to disclosures released ...

Bloomberg It’s so hot in Texas that the power grid keeps breaking demand records, and it’s forecast to get so warm in California next week that natural gas prices have risen to a nine-year seasonal high. The Dallas-Fort Worth area shattered a 93-year-old daily heat record, reaching 108 degrees Fahrenheit (42 Celsius), the sixth straight day of triple-digit temperatures. It ...

Bloomberg KKR & Co. said it is taking over Taiwanese company LCY Chemical Corp. in a deal valued at $1.56 billion, as the global buyout firm seeks to make additional majority stakes purchases in Greater China. A consortium led by New York-based KKR agreed to acquire all of LCY’s shares for NT$56 each, a 17.3 percent premium to July 20’s ...

Bloomberg Peter Thiel is considering strategies to invest in Chinese startups as US venture capital firms seek a piece of the country’s fast growing technology sector, people familiar with the matter said. The conservative billionaire is weighing different approaches for investment, including raising a fund directly or through a partnership, two of the people said, asking not to be identified ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, hosted a banquet in honour of the Chinese President Xi Jinping, on the occasion of his historic visit to the UAE, at Qasr Al Bahr in Abu Dhabi. Sheikh Mohamed expressed his pride in ...

LONDON / WAM His Highness Dr Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, signed a contract to establish the first phase of a new botanical garden in Sharjah. The signing ceremony was held in the British capital, London, in the presence of officials. Located adjacent to Sharjah New Mosque at the Sharjah – Kalba ...

Abu Dhabi / WAM The UAE leadership’s vision and its constructive policy are always yielding positive and practical results that entrench the country’s prominent stature and its credible assets as an active international player focussing on future forecasting and long-term balanced planning to deliver social, economic, scientific and cultural development to ensure a safe and prosperous future for generations, stated ...

Dubai / Emirates Business A new report from Dubai Chamber of Commerce and Industry (Dubai Chamber) has predicted prosperous years ahead for the UAE economy. The recently issued outlook document cites several factors to support these projections, chief among them being the emirate’s solid and diversified economy, which has softened the effects of both lower oil prices and weakened global ...

Bloomberg Toyota Motor Corp. may stop importing some models into the US if President Donald Trump raises vehicle tariffs, while other cars and trucks in showrooms will get more expensive, according to the automaker’s North American chief. The Japanese carmaker is busy analysing scenarios about how tariff schemes could affect each of its car and truck lines, said Jim Lentz, ...

Bloomberg India’s government is holding up Facebook Inc.’s plans for a nationwide launch of its WhatsApp payments service over concerns about how users’ data will be stored and other issues, according to people familiar with the matter. The country’s Ministry of Electronics and Information Technology, or MEITY, has asked WhatsApp and its partner banks to supply more details about the ...