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Bloomberg The European Union’s (EU) antitrust chief Margrethe Vestager says she’s asked European governments for information on tax rulings, pledging to continue a crackdown on potentially unfair corporate tax deals. Governments will have to update their status on how they use tax rulings, following up on a similar sweep in 2014 where the EU gathered information on how many corporate ...

Bloomberg The coffee market is looking increasingly bleak. While robusta futures rose on Tuesday, the gain followed the biggest daily slump in four months that sent prices to the lowest since 2010. The beans, favoured for instant drinks, have been pressured by a glut of coffee and money managers have never been so bearish. As well as a global surplus, ...

Abu Dhabi / WAM The UAE has around AU$26 billion (AED64 billion) worth of investments in Australia, revealed a senior Australian official on Monday. The Australian Deputy Prime Minister Michael McCormack, said that Australia and the UAE enjoy a strong bilateral relationship in areas including trade and investment, defence, law enforcement, security and consular cooperation. He told the Emirates News ...

LONDON / WAM Masdar, a subsidiary of Mubadala Investment Company, on Monday joined UK government leaders in London for a specialised industry event to discuss its recent investment in the Charging Infrastructure Investment Fund (CIIF). Last month, Masdar became the first commercial investor in UK government’s GBP400 million CIIF, which aims to more than double the country’s electric vehicle charging ...

LONDON / WAM UAE-linked Petrofac, an international service provider to the oil and gas production and processing industry, has secured a contract to support the appraisal and selection phase of the Greater Buchan Area development in Britain’s North Sea. Under the terms of the agreement, Petrofac will provide facilities and well support to Jersey Oil & Gas (JOG), which was ...

Bloomberg Oil gained after its biggest weekly slump since July ahead of the resumption of US-China trade talks that may sway a cloudy demand outlook. Futures in New York added as much as 1.7% after losing 5.5% last week. Chinese officials are signaling they’re increasingly reluctant to agree to a broad deal pursued by President Donald Trump, according to people ...

GENEVA / WAM The UAE, represented by the Telecommunications Regulatory Authority (TRA), chaired the annual meeting of the ITU Council Working Group on Child Online Protection (COP), at the ITU headquarters in Geneva. The meeting, chaired by the TRA’s Abdelaziz Al Zarooni, saw participants discuss the development of global COP guidelines and the exchange of experiences among Member States on ...

Bloomberg Chinese officials are signaling they’re increasingly reluctant to agree to a broad trade deal pursued by President Donald Trump, ahead of negotiations this week that have raised hopes of a potential truce. In meetings with US visitors to Beijing, senior Chinese officials have indicated the range of topics they’re willing to discuss has narrowed considerably, according to people familiar ...

Dubai / Emirates Business dnata, one of the world’s largest air services providers, has extended its partnership with Terminal One Group Association (TOGA) in New York through to 2023. The extension will see dnata continue to provide quality ground and passenger handling services to over 20 airlines including Air France, Japan Airlines, Korean Air and Lufthansa, ensuring smooth and safe ...

HODEIDAH / WAM The UAE has provided emergency shelter and food assistance to those affected by floods south of Hodeidah, west of Yemen, and to displaced people in Yemen’s Red Sea Coast. The assistance by the Emirates Red Crescent included food baskets and tents which are being used as temporary housing by families unable to afford the reconstruction of their ...