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Bloomberg As European steel demand comes under growing pressure, two big suppliers to the bloc are betting on online stores to help attract new clients. It may not sound like a groundbreaking plan — Internet shoppers around the world can already order anything from a prefabricated house to a human skull — yet European steel buyers still make most purchases ...

Bloomberg UK government borrowing surged in the first four months of the fiscal year, a reminder of the vulnerability of the public finances as Britain braces for a no-deal Brexit. The budget deficit between April and July stood at 16 billion pounds ($19.4 billion), 60% more than the same period last year, Office for National Statistics figures published on Wednesday ...

Bloomberg Chancellor Angela Merkel’s cabinet on Wednesday agreed to abolish a tax that was used to help finance reunification for all but the very wealthy. From 2021, the so-called “Solidarity Surcharge” will be eliminated for 90% of those currently paying it and another 6.5% will receive partial relief, the finance ministry said in a statement. As a result, expected revenue ...

Bloomberg Nordic leaders said they would seek a common stance on climate talks after a summit in Iceland that was attended by German Prime Minister Angela Merkel. Danish Prime Minister Mette Frederiksen said the region had the responsibility of making sure that it becomes the more environmentally sustainable in the world, while her Swedish colleague Stefan Lofven said it was ...

Bloomberg Facebook Inc. is making good on a promise the company made following last year’s Cambridge Analytica scandal: It finally finished a feature that will let users separate their internet browsing history from their personal profiles. The move is a risk for the world’s largest social media company because it could make Facebook advertising less accurate and potentially less valuable ...

Bloomberg Argentina promised to use “all available tools” to stabilise the peso after last week’s rout, while the International Monetary Fund (IMF) said it is sending a delegation to visit the country “soon.” The government is working to keep the currency within last week’s range of 45.2 to 60.4 pesos per dollar, newly sworn-in Economy Minister Hernan Lacunza said in ...

RIYADH / WAM The joint forces of the Arab Coalition supporting the legitimate government in Yemen launched a military operation on Houthi military targets, including caves used by the militia to store ballistic missiles, drones and weapons, reported the Saudi Press Agency (SPA). Colonel Turki Al Maliki, the Coalition’s official spokesman said the forces carried out 2,256 hours of military ...

Dubai / WAM Medical tourism sales in the UAE increased 5.5 percent year-over-year to reach AED12.1 billion in 2018, with growth supported by several government-led initiatives and the rising number of medical tourists in the country, new analysis released by Dubai Chamber of Commerce and Industry revealed. The analysis, based on recent data from Euromonitor International and Fitch Solutions, found ...

DUBAI / WAM Dubai Electricity and Water Authority (Dewa) announced that it will be the host sponsor of the 24th World Energy Congress (WEC), which will be held fr- om September 9 to12 in Abu Dhabi, under the theme ‘Energy for Prosperity’. Saeed Mohammed Al Tayer, MD & CEO of Dewa, will attend the conference and deliver a speech on ...

Bloomberg Saudi Aramco has picked Lazard Ltd. and Moelis & Co. to advise on the oil giant’s second attempt at the world’s largest initial public offering, people with knowledge of the matter said. The boutique investment banks have started preparatory work on the offering, according to the people, who asked not to be identified because the information is private. They ...