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Bloomberg India’s Commerce and industry minister Piyush Goyal will meet his counterpart US Trade Representative, Robert Lighthizer, on November 13 to discuss “outstanding bilateral issues,” the government said in a statement. The talks come days after India exited a China-backed trade agreement covering much of Asia, citing domestic concerns. Goyal will also take part in the BRICS trade ministers’ meeting ...

Bloomberg Tesla Inc unveiled its first vehicles built in China, a milestone for Elon Musk’s company as it prepares to start sales of domestically-made electric sedans in the world’s largest auto market. Assembled in Tesla’s new Shanghai Gigafactory, which only broke ground in January, the first Model 3 sedans came in blue and were emblazoned with the brand name in ...

Bloomberg Myanmar expects to attract more investment as manufacturers seeking to relocate production from China to skirt US tariffs encounter capacity constraints in Vietnam. The Southeast Asian nation, whose goal is to woo a total of $5.8 billion in foreign-direct investment this year, is trying to cut back the red tape that deters some companies, according to a senior government ...

Bloomberg Britain dodged a recession ahead of the now-postponed October 31 Brexit deadline, but investment is in a slump and the economy has lost almost all momentum. The economy grew 0.3% between July and September, avoiding a second straight quarter of contraction, the Office for National Statistics said. Still, the figures were weaker than expected and showed the economy had ...

Bloomberg Greece and China in Athens signed 16 agreements in sectors including energy, agriculture, tourism and ports. Chinese President Xi Jinping is on an official visit to Greece for follow-up meetings with Greek officials, after Premier Kyriakos Mitsotakis visited China last week. At that time, the leaders said they wanted to expand relations between two of the world’s oldest civilisations. ...

Bloomberg ArcelorMittal South Africa Ltd will mothball its Saldanha Works plant to curb losses, as raw-material costs and regulated prices mean the operation can no longer effectively compete in steel export markets. Saldanha, on South Africa’s west coast, will be placed on care and maintenance in the first quarter of 2020 and its domestic customers will be served from another ...

ABU DHABi / WAM Dr Anwar Gargash, Minister of State for Foreign Affairs and International Cooperation, addressed the sixth annual Abu Dhabi Strategic Debate, hosted by the Emirates Policy Centre. In his speech, Dr Gargash reviewed regional developments and expressed optimism regarding the potential for significant progress over the next year, noting, “We have reached critical junctures in major conflicts ...

DUBAI / Emirates Business Emaar Properties recorded a revenue of AED17.644 billion and net profit of AED4.442 billion in the first nine months of 2019, led by resilient performance of the property, malls and hospitality business. Emaar recorded robust increase in net profit by 20 percent during the third quarter (July to September) of 2019 to AED1.331 billion ($362 million), ...

SHARJAH / WAM Air Arabia, the Middle East and North Africa’s largest low-cost carrier, on Sunday announced strong financial results for the third quarter of this year ending September 30. Air Arabia registered a record profit of AED471 million for the three months ending September 30, an increase of 57 per cent compared to the AED300 million reported for the ...

SHARJAH / WAM Dana Gas announced that in the first nine months of 2019, collections in Egypt, the UAE, and from its share of Pearl Petroleum Company Limited’s sales in the Kurdistan Region of Iraq (KRI) increased 16.7 percent year on year to $230 million (AED844 million). Dana Gas, which owns a 35 percent stake in Pearl Petroleum, saw its ...