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Bloomberg US officials flooded Europe last week, and by the time they had departed, their efforts to persuade their allies to cut back in using Huawei Technologies Co equipment appeared to finally be gaining traction. Europe has been caught between two major world powers, China and the US, over the question of whether to include Huawei in the roll-out of ...

Bloomberg Amazon.com Inc’s bid to buy into one of the UK’s most successful startups may get caught up in antitrust authorities’ fear that they made mistakes in the past. The Competition and Markets Authority (CMA) has until Wednesday to decide whether to continue a two-month-old probe that froze Amazon’s bid of around $500 million for a minority stake in food-delivery ...

Bloomberg Berlin’s effort to protect tenants from steep rent increases has antagonised other participants in the property industry. Three convoys of construction lorries, along with landlord representatives, converged on Berlin’s Brandenburg Gate to protest against a plan to freeze rents in the city for five years. Around 1,500 people registered to take part in the event involving an estimated 240 ...

Bloomberg French pharma giant Sanofi agreed to buy US biotech company Synthorx Inc for $2.5 billion, almost triple its market value, accelerating a push into cancer under new Chief Executive Officer Paul Hudson. Sanofi will pay $68 a share in cash for Synthorx, the companies said. Shares of the unprofitable San Diego-based company closed at $25.03, having surged 40%. The ...

Bloomberg The European Union imposed five-year tariffs on biodiesel from Indonesia to counter alleged subsidies to producers in the country, a move that could prompt the Indonesian government to retaliate. The EU duties on Indonesian exporters of this type of biofuel, which is made from vegetable oils and animal fats for use in diesel engines, range from 8% to 18%, ...

Bloomberg The unexpected drop in China’s exports in November shows one reason why the nation wants to agree on a phase one trade deal as US tariffs are hurting China’s exports at a time when global demand is already weak. Total exports in November dropped 1.1% from a year ago, and to the US they were down 23%, the customs ...

RIYADH / WAM A UAE delegation led by Younis Haji Al Khoori, Under-Secretary of the Ministry of Finance has participated in the G20 Finance Ministers’ and Central Bank Governors’ meeting in Riyadh, Saudi Arabia. This is the second meeting held in Riyadh after the G20 ‘Sherpa’ meeting, part of the 124 G20 meetings to take place during the Kingdom’s presidency ...

Bloomberg Saudi Arabia’s main equity index advanced the most in more than a year after the pricing of Saudi Aramco’s initial public offering and amid hopes of higher oil prices. The Tadawul All Share Index rose 2.4%, the most for a session since October 2018. The kingdom raised $25.6 billion from the world’s biggest IPO after selling shares at 32 ...

SHARJAH / WAM Air Arabia won another recognition, winning ‘Best Low-Cost Airline’ in Middle East and Africa at AirlineRatings.com Airline Excellence Awards. Judged by seven editors with vast industry experience and evaluate against 12 criterial including fleet age, passenger reviews, profitability, investment rating, product offerings and staff relations, the honour further underlines Air Arabia’s credentials as the first choice for ...

Abu Dhabi / WAM The UAE Cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has affirmed that the Year of Tolerance, with all its initiatives and activities, would be pursued since it is an intrinsic part of Emirati heritage established by the Founding Fathers of the ...