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Bloomberg The European Union warned about the costs of a trans-Atlantic trade war while bracing for one to erupt after the US signalled it will reject the bloc’s dem-and for an unconditional waiver from metals-import tariffs. “A trade war is a losing game for everybody,” Belgian Finance Minister Johan Van Overtveldt told reporters in Sofia. “We should stay cool when …

Hassan Soukar Over the past few years there has been a remarkable surge in demand for second citizenships among high-net-worth expatriates living in the UAE. But the spike in interest for acquiring second passports has been all-time high in the first three months of 2018. The whole industry is coming of age. The second passports are not only seen just …

Bloomberg Amazon.com Inc. has partnered with General Motors Co. and Volvo Cars to deliver packages to car trunks in 37 US cities, as the e-commerce giant seeks new delivery methods for customers who may be wary of leaving packages outside or allowing couriers into their homes. The app-based service, which lets car owners provide delivery agents with keyless access to …

Bloomberg Alibaba Group Holding Ltd. is getting its digital assistant into Mercedes-Benzes, Audis and Volvos in China, enlisting a clutch of global automakers in an effort to popularise the year-old technology for everything from shopping to home security. Daimler AG, Volkswagen AG and Zhejiang Geely Holding Group Co.’s Volvo join some 100 brands Alibaba says it’s partnered with. The Chinese …

Bloomberg International Business Machines Corp., a group of four gold and diamond industry companies and an independent laboratory are developing a blockchain network for tracing the provenance of finished pieces of jewelry from mine to store. The TrustChain Initiative, which will run on IBM’s technology, includes precious-metals refiner Asahi Refining, US jewellery retailer Helzberg Diamonds, precious-metals supplier LeachGarner, jewellery-maker the …

MEXICO CITY / WAM The UAE Ambassador to Mexico Ahmed Hatem Al Menhali met with Mexico’s Secretary of Tourism Enrique de la Madrid Cordero in the country’s Ministry for Tourism located in Mexico City, to discuss a number of issues of common interest. The two sides reviewed ways to enhance relations, namely boosting bilateral tourism between the UAE and Mexico …

Dubai / Emirates Business Muslim travellers will spend $157 billion by 2020, driven by millennial travellers and the top outbound market remains Saudi Arabia, which will grow 17 percent over the next three years alone, to reach $27.9 billion. The figures were released during Arabian Travel Market’s Global Halal Tourism Summit 2018, which was held at the Dubai World Trade …

Dubai / Emirates Business Blockchain adoption continues to grow across industries world-wide with total spending on blockchain solutions set to grow to $9.7 billion in 2021 according to International Data Corporation (IDC), leading provider of market intelligence, advisory services, and events for the information technology, tele-communications, and consumer technology markets. Startups in the nascent blockchain industry are driving this growth …

Bloomberg For generations of investors, Exxon Mobil Corp. has been a cornerstone of fund managers’ portfolios alongside the biggest names in corporate America. Not so much any more. From leading the S&P 500 Index a decade ago, the company has dropped to the ninth-largest in a top 10 now dominated by technology giants. Its rivals Royal Dutch Shell Plc and …

Bloomberg Saudi Arabian Oil Co. and Total SA are weighing jointly buying businesses such as Tas’helat Marketing Co to gain access to networks of retail fuel stations in the Gulf kingdom, according to people with knowledge of the matter. The state-owned company, known as Aramco, and the French oil giant are also looking at a range of options from consolidating …