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Bloomberg The United Nations International Court of Justice granted Kenya’s request to postpone a hearing of a territorial dispute with Somalia, less than a week before it was scheduled to begin. The hearing will now start on November 4. Kenya had requested that it be delayed for a year as it recruits a new defense team. The neighbours claim ownership …

Bloomberg Oil posted the biggest weekly gain since July as Federal Reserve Chairman Jerome Powell sought to calm fears of a possible recession following a lackluster jobs report that was seen as dimming the demand outlook. Futures in New York rose 0.4% on September 6, erasing earlier losses. Powell said the most likely outlook for the US and world economy …

Bloomberg An Indian state-owned refiner is mulling purchase of American oil from Chinese sellers offering cargoes that would be hit by new tariffs on US supplies. Bharat Petroleum Corp. is looking for opportunities to buy some US crude diverted from their original destination of China, according to Refineries Director R. Ramachandran. He said the previously-reported purchase of up to two …

Bloomberg America’s merchandise trade with China continued to sag in July despite a tariff-war truce between the world’s two largest economies that’s since evaporated as President Donald Trump escalated levies and China retaliated. US exports of goods to the Asian nation fell 2.7% from the prior month while imports declined 1.9%, narrowing the trade gap between the countries to a …

Bloomberg Google’s YouTube agreed on Wednesday to pay a $170 million fine and limit ads on kids’ videos to settle claims that the company violated children’s privacy laws. The world’s largest video-sharing site agreed to pay the fine, which is a record for a children’s privacy case, of $136 million to the US Federal Trade Commission and $34 million New …

ABU DHABI / WAM The manufacturing sector’s contribution to the UAE’s non-oil gross domestic product (GDP) grew 2.5 percent to AED122 billion ($33.21 billion) in real prices in 2018 from AED119.7 billion in 2017, according to figures revealed by the Federal Competitiveness and Statistics Authority. Being a mainstay to a diversified economy, the sector has maintained its steady growth over …

Bloomberg President Donald Trump sought to prod China into doing a trade deal before US presidential election in November 2020, or face even more difficult negotiations during his potential second term. “Think what happens to China when I win,” Trump said in a tweet on Tuesday. “Deal would get MUCH TOUGHER!” Trump said in his tweet that the US is …

Bloomberg / WAM Emirates NBD Bank (Emirates NBD), on Monday announced its intention to increase Foreign Ownership Limit (FOL), to 40 percent in the future, and will seek necessary approvals from its shareholders and the relevant regulatory authorities, in due course. Emirates NBD also announced the implementation of an immediate increase in its FOL from 5 percent to 20 percent after …

Bloomberg Opec’s crude production rose last month, the first increase since the group and its allies started a new round of output cutbacks at the start of the year to shore up a weak global market. Nigeria and Saudi Arabia led the boost by the Organisation of Petroleum Exporting Countries (Opec), which collectively increased by 200,000 barrels a day to …

Bloomberg Manufacturing across vast parts of Europe and Asia remain deeply mired in a crisis that took another turn for the worse over the weekend. One day after the US and China enacted new tariffs on each other’s imports, factories from Germany and Italy to Japan, South Korea and Taiwan sent a gloomy reminder that they are suffering badly from …