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AstraZeneca drops fish oil pill for bad cholesterol

Bloomberg AstraZeneca Plc will stop testing a fish-oil pill for one form of cholesterol in the most advanced and expensive stage of clinical tests. The medicine, called Epanova, didn’t stand a very high likelihood of showing a benefit when combined with a statin for patients at risk of heart disease due to high levels of LDL (or bad) cholesterol, Astra ...

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Zurich Insurance sees best chance to increase prices

Bloomberg Zurich Insurance Group AG expects to have more power to increase commercial insurance rates than it has seen in almost two decades as a shortage of supply and high natural catastrophe payouts help reverse declining premiums. “The last time this kind of market really existed was in 2002,” James Shea, the company’s head of commercial insurance, said in an ...

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EU may ban plastic packaging

Bloomberg The EU Commission is evaluating a ban on plastic packaging and setting new requirements for manufacturers, EU Commissioner-designate for environment and the oceans Virginijus Sinkevicius said in an interview with German newspaper Die Welt. “We definitely want to expand the rules for single-use plastics and are currently investigating in which direction it would be possible,” he was quoted as ...

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Aston Martin in last-ditch funding talks with Stroll, Geely

Bloomberg Aston Martin Lagonda Global Holdings Plc is making a last-ditch effort to bring in fresh funding, with billionaire Lawrence Stroll closest to committing to buying a stake in the struggling UK luxury-car maker, according to people familiar with the matter. The Canadian investor and owner of the Racing Point Formula One team is in advanced discussions to inject about ...

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Sharjah approves largest ever AED29.1 billion 2020 budget

SHARJAH / WAM His Highness Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, announced that the 2020 budget would reach AED29.1 billion budget, a two percent increase compared to the 2019 budget. The approved budget will see an increase in expenses across several sectors, including infrastructure, social programmes, economic activities, culture and education, among ...

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ADFD signs loan pacts worth $33mn with African nations

ABU DHABI / WAM Abu Dhabi Fund for Development (ADFD), the leading national entity for economic development aid, on Sunday formalised three loan agreements valued at $33 million (AED121 million) with the Governments of Togo, Niger and Liberia. The agreements were signed in Abu Dhabi during the 10th Session of the International Renewable Energy Agency (Irena), Assembly. Mohammed Saif Al Suwaidi, ...

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Saudi Aramco raises IPO to record $29.4bn

Bloomberg The world’s biggest initial public offering turned out even bigger than initially thought. The final amount raised by Saudi Aramco’s sale totaled $29.4 billion as Goldman Sachs Group Inc., one of the underwriters of the world’s biggest IPO, exercised the option to place some shares that were initially separated to avoid price swings, according to a statement. It said ...

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Renewables investment needs to double to $750bn by 2030: Irena

ABU DHABI / WAM The share of renewables in global power should more than double by 2030 to advance the global energy transformation, achieve sustainable development goals and a pathway to climate safety, according to the International Renewable Energy Agency (Irena). Renewable electricity should supply 57 percent of global power by the end of the decade, up from 26 percent ...

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Business community continues to invest, expand in Dubai

DUBAI / WAM Dubai Economy confirmed that the emirate’s economic competitiveness and its ability to attract investors to grow and expand their businesses in various economic sectors have been further strengthened in 2019. According to a recent report by the Business Registration and Licencing sector at Dubai Economy, 38,377 new licences were issued in 2019, a record growth of 90 ...

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Etihad to mark ADSW 2020 with eco-flight

Abu Dhabi / WAM Etihad Airways will mark Abu Dhabi Sustainability Week 2020 by operating a special eco-flight from Abu Dhabi to Brussels. Departing at 02:20 on Monday, 13th January, 2020, Flight EY 57 will be operated with a Boeing 787 Dreamliner aircraft, the newest and most efficient aircraft in the Etihad fleet, which consumes at least 15 percent less ...

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