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Bloomberg Malaysia is in discussions with China-based contractors for compensation relating to pipeline projects worth 9.4 billion ringgit ($2.24 billion). The government is negotiating with China Petroleum Pipeline Engineering Co and Huanqiu Project Management Beijing Co on the total compensation to be paid by Suria Strategic Energy Resources Sdn, which was overseeing the projects, for the termination of the work, ...

Bloomberg The Trump administration is proposing tariffs on goods from countries found to have undervalued currencies, in a move that would further escalate its assault on global trading rules. The proposal, laid out in a Federal Register notice released, would let US-based companies seek anti-subsidy tariffs on products from countries found by the US Treasury Department to be engaging in ...

Bloomberg Sales by Canadian wholesalers in March rose by the most in more than a year, another sign the economy is emerging from a temporary slow patch. Wholesale sales rose 1.4 percent during the month, the fastest increase since October 2017 and the fourth straight monthly gain, Statistics Canada reported. Economists surveyed by Bloomberg were expecting a gain of 0.9 ...

Bloomberg Robert Bosch GmbH agreed to pay 90 million euros ($100 million) to end a probe by German prosecutors into rigged diesel engines, following much more costly settlements by its customer Volkswagen AG. Bosch is being fined for “negligent breach of supervision duties,” the prosecutor’s office in Stuttgart said in an emailed statement. The company supplied about 17 million engine-control ...

Bloomberg German business confidence fell to the weakest in more than four years as the escalation of global trade tensions weighed heavily on outlook. Along with a survey showing manufacturing still contracting and new orders falling, it’s a reminder of the shaky situation Europe’s largest economy is in. Its car industry is in upheaval and industrial giants such as Thyssenkrupp ...

ABU DHABI / WAM HH Sheikh Sultan bin Zayed Al Nahyan, the President’s Representative, said that the late Sheikh Zayed bin Sultan Al Nahyan was an exceptional leader and an icon of tolerance and humanitarian giving. In a statement marking Zayed Humanitarian Work Day, Sheikh Sultan bin Zayed said that the Founding Father established a tolerant country that gained global ...

Bloomberg Saudi Aramco agreed to a buy a stake in Sempra Energy’s Texas LNG export terminal, giving the world’s biggest oil exporter a foo-thold in the fast-growing global gas trade. The proposed deal, which also includes an agreement to buy gas from the plant, would mark Aramco’s first entry into production of oil or gas outside Saudi Arabia. Aramco can ...

DUBAI / WAM Brazil Minister of Foreign Affairs, Ernesto Henrique Fraga Araujo met with DP World Group Chairman and CEO, Sultan Ahmed bin Sulayem in the Brazilian capital, Brasilia. They discussed social reform, a stable and efficient regulatory framework to attract investors alongside public private partnerships to encourage foreign direct investment (FDI). The meeting preceded Bin Sulayem’s discussions with President ...

Bloomberg Signs of a turnaround at its marquee Jaguar Land Rover unit may not be enough to ease the challenges facing India’s oldest and most-storied business empire. The Tata Group bought the British luxury carmaker in 2008 for $2.3 billion, and it’s lately become a drag on the salt-to-software conglomerate, racking up losses in three quarters through December. Although Jaguar ...

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, attended the Abu Dhabi Government Employees’ Evening, Barzat Abu Dhabi. The Abu Dhabi Government Media Office organised the evening and hosted around 3,400 employees from different government departments, entities and authorities at the Abu ...