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Bloomberg One of the biggest challenges facing Indian Prime Minister Narendra Modi as he begins his second term is ensuring clean air in a country that’s home to some of the most polluted cities in the world. The country is burning up more coal to supply cheap electricity to its 1.3 billion people, resulting in polluted air across vast stretches. ...

Bloomberg Fiat Chrysler Automobiles NV proposed a merger with Renault SA to create the world’s third-biggest carmaker as manufacturers scramble for scale to tackle an expensive shift to electrification and autonomous driving. The transaction would be structured as a 50-50 ownership through a Dutch holding company, Fiat said on Monday. Renault shareholders, including the French government, would get an implied ...

Bloomberg First American Financial Corp., one of the largest US title insurers, may have allowed unauthorised access to more than 885 million records related to mortgage deals going back to 2003, according to a security researcher. The flaw was outlined in an article by Brian Krebs, a cybersecurity expert. Digitised records including “bank-account numbers and statements, mortgage and tax records, ...

Bloomberg AP Moller-Maersk A/S, the world’s largest container line, said it had a good start to the year but warned that “considerable uncertainties” stemming from global trade tensions will probably hurt its business. “New tariffs can potentially reduce expected growth in global container volumes by up to 1 percentage point,” the Copenhagen-based company said. Maersk, which also unveiled plans to ...

Bloomberg Sweden’s unemployment rate fell to a 14-month low in April, providing surprisingly favourable data for the central bank as it seeks to increase interest rates amid slowing economic growth. The seasonally adjusted rate came in at 5.9 percent, down from a 17-month high of 6.7 percent in March. Economists polled by Bloomberg had expected a rate of 6.5 percent. ...

Bloomberg Countries should cooperate in developing the internet, big data and artificial intelligence, China President Xi Jinping said in a letter to the China International Big Data Industry Expo that started on Sunday in the southwestern city of Guiyang, Xinhua reports. China attaches great importance to the development of the big data industry and is willing to explore a growth ...

MANAMA / WAM Investcorp on Sunday announced it has entered into a definitive agreement to acquire Mercury Capital Advisors (Mercury), one of the leading institutional capital raising and investment advisory enterprises. As part of the transaction, Mercury will remain an independent business operating under its current leadership team. This investment is the latest milestone in Investcorp’s ambitious growth strategy to ...

Abu Dhabi / WAM The UAE has pledged $10 million to support ending of sexual and gender-based violence. This came when a UAE delegation led by Zaki Nusseibeh, Minister of State, co-hosted the “International Conference on Ending Sexual and Gender-based Violence in Humanitarian Crises” which was held in Oslo, Norway. In his opening address, Zaki Nusseibeh emphasised “that the empowerment ...

ABU DHABI / WAM With its user-friendly interface and a variety of other services, the Abu Dhabi Airports Free Zone (ADAFZ), launched a One Stop Shop (OSS), online portal, to ease the process of setting up businesses within the ADAFZ. Once registered, the portal allows users to view their company’s licence, lease, and employee and financial details. The portal also ...

Abu Dhabi / WAM Eid Al Fitr holidays for the private sector will begin on Monday, June 3 (29 Ramadan) until 3rd of Shawwal, with work to resume on 4th of Shawwal, the Ministry of Human Resources and Emiratisation announced. This came in a circular issued by Nasser bin Thani Al Hamli, Minister of Human Resources and Emiratisation, in implementation ...