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Bloomberg Egypt signed off on Uber Technologies Inc’s acquisition of ride-hailing peer Careem Inc after setting price caps and other measures designed to keep the local market competitive. The decision was made after studying data on 270 million trips as well as Egyptian and international precedents, the Egyptian Competition Authority said on Sunday. Any raising of passenger prices has to ...

Bloomberg Taiyo Yuden Co, a Japanese maker of ceramic capacitors used in smartphones, sees increasing demand for its components next year as China pushes ahead with the fifth generation of cellular technology. “We’re already getting orders for 5G base stations,” Chief Executive Officer Shoichi Tosaka said in an interview. “Early next year we should start seeing 5G-related orders for smartphones.” ...

Bloomberg Apple Inc is likely to continue outperforming its mega-cap tech peers next year, according to Loup Ventures, which wrote that the iPhone maker could chase its 80%-plus rally in 2019 with another 20% gain in 2020. Analyst Gene Munster cited a number of tailwinds for the shares over the coming 12 months, including continued growth for the Apple Watch ...

Bloomberg Hong Kong’s economy is set to contract in the fourth quarter as the city reels from six months of violent social unrest, the financial chief said on Sunday. “Based on the situation of these few months, it is inevitable that negative growth will continue,” Financial Secretary Paul Chan said in a blog post. “This means the government will be ...

Bloomberg Vietnam will punish four companies for fraudulent labels on products from China that the firms claim were made locally, as authorities expand their crackdown into Chinese manufacturers trying to bypass US tariffs. The unidentified companies, which assemble bicycles, electric bikes and wooden shelves, admitted to the violations, according to a government statement. Vietnam’s customs department is also investigating possible ...

Bloomberg Singaporean diplomats are taking the lead in defending a two-month-old fake news law, challenging international media outlets it says are publishing misleading claims on the contentious legislation. Since the law was enacted in October, authorities in the Southeast Asian city-state have invoked it four times against critics and once against Facebook Inc, which was required to attach a government-issued ...

Bloomberg China is expanding its generic drug-procurement programme to include an additional 33 drugs, pitting domestic and international drugmakers in a price war that could see Chinese players dominate. Less than three months after China went nationwide with a pilot bulk-buying programme for 25 medicines, the government on Sunday announced a second batch of 33 drugs treating everything from diabetes ...

Bloomberg Tesla Inc secured a tax break in China hours before the delivery of its first locally built cars, marking a major milestone for Elon Musk’s company as it pushes to expand in the world’s largest electric-vehicle market. The China-built Model 3 was included on a list of vehicles qualifying for an exemption from a 10% purchase tax in the ...

Bloomberg India may roil the global sugar market again as prospects for next year’s cane crop have brightened due to brimming reservoirs. Bountiful monsoon rains this year have led to above average water levels in reservoirs, which will in turn boost the amount of sugar cane that’s planted, according to industry and Indian government officials. Sugar output in the country ...

VIENNA / WAM The UAE is strictly committed to its nuclear policy principles of transparency, safety and security, sustainability and international cooperation to ensure that its Peaceful Nuclear Energy Programme is developed in line with the highest standards, said Hamad Al Kaabi, Ambassador and Permanent Representative of the UAE to the International Atomic Energy Agency (IAEA). In a statement made ...