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Bloomberg Tensions between the US and China are about to get more complicated, with the World Trade Organization poised to begin an investigation into President Donald Trump’s tariffs on $250 billion of Chinese goods. On Monday, the Geneva-based arbiter of trade disputes will likely launch an inquiry into whether the US duties run afoul of a requirement that all WTO …

Bloomberg Oil explorers expanded drilling in US fields for the first time this year as rising crude prices buoyed optimism. The number of rigs targeting oil in the country rose by 10 this week to 862, according to data released by oilfield-services provider Baker Hughes. The hike only partially reversed the worst setback for American exploration in almost three years. …

ABU DHABI / WAM The Abu Dhabi Fund for Development (ADFD) financed 129 development projects in the education sector with a total value of AED2.5 billion. Benefitting 14 developing countries, these projects have contributed to achieving the United Nations’ Sustainable Development Goals (SDGs). The fund’s steadfast commitment to supporting developing countries in achieving their development priorities through building capabilities and …

Bloomberg Oil closed higher for the third day in a row as a deal to reopen the US government eased investor fears while political turmoil in Venezuela roiled one of the world’s biggest suppliers of heavy crude. Futures in New York rose 1.1 percent, gaining steam on reports US President Donald Trump agreed to a three-week pause in the government …

Bloomberg Alberta is working to encourage construction of a C$2 billion ($1.5 billion) partial-upgrading facility that would turn more of the province’s sludgy bitumen into higher-value products. The facility, designed by Calgary-based Value Creation Inc, would be located near Edmonton and process 77,500 barrels of diluted bitumen a day into products like medium synthetic crude and ultra-low sulfur diesel. The …

Bloomberg Pipeline giant Kinder Morgan Inc is weighing a sale of the largest transporter of carbon dioxide in North America, which could fetch more than $5 billion, according to people familiar with the matter. Its shares rose on the news. The Houston-based company is working with advisers to seek buyers for its CO2 business, said the people, who asked to …

Bloomberg The European Union is prepared to hit 20 billion euros ($22.7 billion) of US goods with tariffs should President Donald Trump follow through on a threat to impose duties on EU cars and auto parts, said a senior trade official for the bloc. The assertion by Jean-Luc Demarty, director general for trade in the European Commission, the EU’s executive …

DUBAI / WAM DP World on Wednesday announced that it has acquired an additional stake in DP World Australia (DPWA) from Gateway Infrastructure Investments and other financial investors, valuing DP World Australia at an enterprise val-ue of approximately AU$1.4 billion ($997 million). The acquisition is subject to regulatory approval and is expected to close in Q1 2019. Following the closure …

Bloomberg Kingdom Holding Co, one of Careem Networks FZ’s biggest backers, supports a potential merger between the Middle East ride-hailing firm and Uber Technologies Inc, according to the head of Prince Alwaleed Bin Talal’s investment firm. “We don’t interfere nor are we party to the discussions, and if it ever happens I think we are supportive of it yes,” Chief …

Bloomberg China risks being locked out of talks to establish new global rules to govern the $25 trillion e-commerce marketplace as the US and other nations resist an effort by Beijing to curb the plan’s ambition, according to people familiar with the talks. Negotiations, which are set to be launched on Friday on the sidelines of the World Economic Forum’s …