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Bloomberg The European Union is on course to hand dozens of UK-based companies a pre-Brexit tax bombshell, according to people familiar with a state-aid probe that could lead to bills exceeding 1 billion pounds ($1.3 billion.) A decision in the European Commission’s investigation into a controversial tax break for UK-based multinationals will be ready later this year, well before Britain’s ...

Bloomberg 21st Century Fox Inc accepted a sweetened, $71.3 billion bid from Walt Disney Co for its entertainment assets, outbidding Comcast Corp in a battle for one of the media industry’s biggest prizes. The $38-a-share price is about $10 a share higher than what Disney offered in December — and $3 above Comcast’s bid from last week. The new agreement ...

Bloomberg Sales of previously owned US homes unexpectedly fell in May for a second month as a lack of inventory and elevated asking prices weighed on demand, National Association of Realtors (NAR) data showed. The drop in sales was led by declines in purchases of single-family homes and cheaper properties, according to NAR, indicating that the market is being driven by ...

Lausanne / Emirates Business The second edition of the IMD World Digital Competitiveness Ranking 2018 saw a slight improvement in the global ranking of the UAE, allowing it to reach 17th place, and lead its Arab neighbours in the report. The IMD World Digital Competitiveness Ranking 2018 studies 63 economies. This year the majority (29) of countries in the study ...

SHARJAH / WAM The Sharjah Department of Statistics and Community Development (DSCD), announced the launch of a new economic survey project, which aims to offer a real-time analysis of sector-by-sector growth and transformation in the emirate, highlighting the changing economic milieu and the key factors responsible for Sharjah’s continued growth. The survey will focus on the role and percentage contribution ...

Abu Dhabi / WAM HH Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region and Chairman of the Emirates Red Crescent (ERC), affirmed the UAE’s commitment to support refugees, highlight their humanitarian situation and help them overcome their conditions. In his statement for the annual International Day of Refugees on June 20, he said that the UAE, ...

Abu Dhabi / WAM A delegation led by the Abu Dhabi Convention Bureau (ADCB), will attend The Meetings Show – the premier event for the inbound and outbound meetings and the event industry in the UK in London on June 27-28, to raise awareness of the emirate as a world-class event, incentive and exhibition hub. The Abu Dhabi delegation will ...

Bloomberg ZTE Corp. dived 27 percent after American lawmakers passed a bill to restore severe penalties on China’s second-largest telecoms gear-maker, potentially up-ending a deal struck with President Donald Trump to allow it to get back in business. The company has lost $7.2 billion of market capitalisation in the past week, as its Hong Kong shares slid to their lowest ...

Bloomberg Vietnam boasts one of the world’s fastest-growing economies, optimistic citizens and a stable government. But below the surface of positive data points lies discontent that spilled over during recent protests across the country. Hundreds of anti-riot police blanketed central Ho Chi Minh City on June 17, the nation’s thriving commercial centre, to prevent demonstrations after thousands of Vietnamese took ...

Bloomberg China doesn’t import enough from the US to match Donald Trump’s tariffs dollar for dollar, but President Xi Jinping can still squeeze American companies in other ways in retaliation. American businesses from Apple Inc and Walmart Inc to General Motors Co. all operate in China and are keen to expand. That hands Xi room to impose penalties such as ...