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Bloomberg Deep in Europe’s manufacturing core, a German company is taking radical steps to cope with a perfect storm that has sent traditional economic pillars into a tailspin and put the country on the verge of recession. Huebner GmbH — a 73-year-old supplier of rubber and plastics that employs 3,300 people around the world — is selling its unit that ...

Bloomberg The US and Japan have agreed in principle on a trade deal that will include Japanese purchases of US agriculture products, US President Donald Trump said. Trump and Japan’s Shinzo Abe made the announcement on Sunday in Biarritz, France, at the Group of Seven summit after holding a bilateral meeting earlier in the day. “We’ve agreed in principle,” Trump ...

Bloomberg The founder of IWG Plc is planning to spin off the firm’s US business into a separately listed company in New York, Sky News reported. IWG Chief Executive Officer Mark Dixon is in talks with investment banks about creating a standalone business to rival WeWork Cos., London-based broadcaster said on its website. Sky said that IWG’s US operations could ...

Bloomberg Federal Reserve Chairman Jerome Powell said the US economy is in a favourable place but faces “significant risks,” reinforcing bets for another interest-rate cut next month though the remarks failed to mollify President Donald Trump. “Trade policy uncertainty seems to be playing a role in the global slowdown and in weak manufacturing and capital spending in the United States,” ...

Bloomberg Neil Woodford has raised at least $796 million by selling listed assets held in his frozen flagship fund, as he prepares for a potential line of clients yanking their money when the fund reopens. The embattled stock picker shocked the financial world in early June by halting withdrawals from his LF Woodford Equity Income Fund after a run of ...

Bloomberg A decision to close Europe’s biggest natural gas field is starting to raise concerns about the impact on the region’s biggest trading hub for the fuel. The Dutch Title Transfer Facility has grown into Europe’s largest gas market in the past few years, surpassing the UK, partly because of the scale of flows converging in the Netherlands. A plan ...

Dubai / WAM Dubai Electricity and Water Authority (Dewa) announced that it has won the ‘best customer service initiative through the billing sector’ for its ‘high water usage alert initiative’ as part of the Global Business Excellence Awards 2019, organised by the UK-based Awards Intelligence. The Global Business Excellence Awards recognises public and private sector institutions in accordance with rigorous ...

Abu Dhabi / Emirates Business Etisalat announced the launch of its double data offer providing existing and new postpaid customers twice as much data on their ‘Freedom’ plans. Etisalat Freedom plan customers who joined on April 1 onwards will automatically get their data doubled upto 200GB as part of the limited time promotion. New and existing Etisalat customers can take ...

Abu Dhabi / WAM HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Narendra Modi, Prime Minister of India, discussed enhancing bilateral relations and reviewed a variety of regional and global issues of common interest. During an official session at Qasr Al Watan, HH Sheikh Mohamed bin ...

ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Saturday conferred Narendra Modi, Prime Minister of India, with the Order of Zayed, in recognition of his role in promoting friendship and cooperation between the two friendly countries. The Order of Zayed was ...