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Bloomberg Malaysia signed a deal with developers to restart the $34 billion Bandar Malaysia project which languished for years after being conceived under the oversight of troubled state fund 1MDB. A consortium comprising Iskandar Waterfront Holdings Sdn and China Railway Engineering Corp will acquire 60% stake in the venture for 6.45 billion ringgit ($1.6 billion). That’s based on Bandar Malaysia’s ...

Bloomberg Toyota Motor Corp is forecasting sales of 10.77 million vehicles worldwide during 2020, nudging it closer to No 1 automaker Volkswagen AG. Toyota’s outlook, which includes vehicles sold by subsidiaries Daihatsu Motor Co and truck maker Hino Motors Ltd, shows slight growth from an estimated 10.72 million vehicles this year. Volkswagen sold 10.8 million units in 2018 and said ...

Bloomberg The European Union (EU) agreed on a landmark green-finance regulation, advancing the bloc’s push to embed environmental goals in standards for banks, money managers and insurers. EU lawmakers approved an accord on the list of sustainable activities, following agreement by the bloc’s member states earlier in the day. Policymakers had to overcome last-minute divisions over the kinds of technologies ...

Bloomberg The UK labour market and manufacturing sector displayed further signs of nervousness around the now-postponed October 31 deadline to leave the European Union and in the run-up to last week’s general election. Vacancies fell below 800,000 for the first time in two years and wages grew at their slowest annual pace since 2018, the Office for National Statistics said. ...

Bloomberg European car sales rose 4.5% in November, the third straight monthly gain for automakers that have been battered all year by economic woes, trade wars and a broader industry slowdown. The monthly rise wasn’t enough to turn the year around so far, with cumulative sales since January still down 0.3%, the European Automobile Manufacturers Association said. Four of the ...

Abu Dhabi / WAM The UAE on Monday announced AED55 million ($15 million) for school supplies that will support 400,000 students in Sudan. The monetary aid, provided by Abu Dhabi Fund for Development (ADFD), covers educational necessities, including classroom equipment. ADFD, in cooperation with the Sudanese government, supervised the delivery of the first shipment of school supplies that covers the ...

Bloomberg Boeing Co. dropped the most in nearly two months on news that the company is weighing a temporary production halt for the grounded 737 Max. With regulatory approval for the jet’s return increasingly likely to slip beyond January, Boeing’s board is considering whether to slow already-pared output of its best-selling jet, a person familiar with the matter said. Some ...

Bloomberg Oil steadied near a three-month high on cautious optimism that a preliminary trade deal between the US and China will support global fuel consumption. Futures held near $60 a barrel in New York after settling at the highest since September 16. While the partial trade deal leaves most of the tariffs built up over the 20-month conflict in place, ...

Abu Dhabi / Emirates Business Etihad Airways, the national airline of the UAE, has announced its “Etihad Airways” mobile application is now available on the HUAWEI AppGallery — the official app store preloaded on all HUAWEI& HONOR smartphones and tablets — enabling 390 million global monthly active users in more than 170 countries and regions to manage their journeys with ...

ABU DHABI / WAM Hub71 kicked off a partnership with Endeavour UAE to boost its offering to global scale-ups. The partnership began with a two-day retreat at Hub71 in Abu Dhabi on October 22-23. This partnership comes weeks after Mubadala Capital’s ventures arm announced two new Mena funds with a combined worth of $250 million, further catalysing Abu Dhabi as ...