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Bloomberg US President Donald Trump said “things are going along very well with China,” and repeated his contention that Beijing is paying the US “Tens of Billions of Dollars” after successive rounds of import tariffs. This was “made possible by Chinese government’s monetary devaluations and their pumping in massive amounts of cash to keep their system going,” Trump said in …

ABU DHABI / WAM In collaboration with the local customs administrations, the Federal Customs Authority initiated the executive procedures to unify customs system across the UAE. The move is meant to authorise common customs electro-nic system within all local customs administrations as well as border zones in order to contribute to cementing the security scheme, facilitate trade, simplify clearing procedures, …

Bloomberg The pound will tumble to the lowest level since 1985 if the UK leaves the European Union without a deal, a prospect that looks more likely now than six months ago, according to a Bloomberg survey of analysts. There is now a 30 percent chance that Britain will exit the bloc in October without a divorce agreement, the poll …

ABU DHABI / WAM A UAE Ministry of Foreign Affairs and International Cooperation (MoFAIC) official expressed his satisfaction foll- owing the 6th joint meeting between the UAE and Iran on maritime affairs. The meeting was held between the UAE and Iranian officials in Tehran. Salem Mohammed Al Zaabi, MoFAIC’s Director of the International Security Cooperation Department, said that the meeting …

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) on Wednesday announced that it has closed its landmark strategic equity partnerships with the Italian oil and gas company Eni and the Austrian oil and gas company OMV, covering both the existing Adnoc Refining business and a new trading joint venture. The agreement, which was announced in January of …

Bloomberg Oil climbed to its highest level in more than two weeks as strong summer demand in the US continued to drain stockpiles. Futures rose as much as 1.3% after the Energy Information Administration reported American crude inventories fell by 8.5 million barrels last week, a seventh straight decline that was higher than all industry and analyst estimates. Stockpiles of …

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) announced on Tuesday that it has entered into a further follow-on pipeline infrastructure investment agreement with GIC, Singapore’s sovereign wealth fund. GIC will invest $600 million in select Adnoc crude pipeline infrastructure, following BlackRock, KKR and the Abu Dhabi Retirement Pensions and Benefits Fund (ADRPBF) who earlier this year …

Bloomberg The pound slumped for a fourth day as investor concerns over a no-deal Brexit intensified. Sterling continued its slide versus both the dollar and the euro, with investors pricing a higher chance of the UK crashing out of the European Union on October 31. As differences between the two sides increase, Prime Minister Boris Johnson’s office said the UK …

Bloomberg US President Donald Trump’s assault on the World Trade Organization — and the global system of rules that guide inte- rnational businesses — may be quietly scoring a major victory. Thanks to a US veto on new appeals judges, the WTO’s dispute arm is expected to start slipping into the institutional equivalent of a coma at the end of …

ABU DHABI / AGENCIES Abu Dhabi’s Mubadala Investment Company on Monday released its full-year 2018 annual review showcasing operational performance and significant scale across sectors with strong growth potential. Despite global macroeconomic turbulence in the fourth quarter of the year, the group delivered stable financial results, with total comprehensive income at AED12.5 billion. In line with Mubadala’s strategy to diversify …