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Abu Dhabi / WAM The Abu Dhabi National Oil Company (Adnoc), announced on Sunday that it has entered into a follow-on pipeline infrastructure investment agreement with the Abu Dhabi Retirement Pensions and Benefits Fund (ADRPBF). ADRPBF will invest AED1.1 billion ($300 million), following BlackRock and KKR who in February of this year signed the initial investment agreement to invest AED14.7 ...

Dubai / WAM The UAE is set to host the world’s foremost artificial intelligence summit to empower global dialogue on the future of government, business and society. The inaugural ‘Ai Everything’ will take place at the Dubai World Trade Centre (DWTC), between April 30 and May 1. Held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, ...

Bloomberg Reliance Communications Ltd denied it received favourable treatment by France in settling a tax dispute at a time when it was negotiating to become Dassault Aviation SA’s partner for a contract to sell fighter jets to India. The Indian company, owned by former billionaire Anil Ambani, issued the denial after Le Monde newspaper reported that four years ago France ...

Bloomberg ArcelorMittal’s plan to buy a bankrupt Indian steel company for $6 billion was halted temporarily by the nation’s top court, further delaying tycoon Lakshmi Mittal’s efforts to enter the world’s second-biggest market. The Supreme Court ruled that Essar Steel India Ltd’s current status has to be maintained, pending a review by a bankruptcy tribunal hearing appeals related to the ...

Bloomberg China Three Gorges Corp is planning to scale back its 9.1 billion-euro ($10.3 billion) takeover offer for EDP-Energias de Portugal SA amid concerns about political hurdles and valuation, people familiar with the matter said. The state-owned firm is evaluating smaller alternative transactions that exclude US assets of EDP, which are the most likely to trigger regulatory opposition, the people ...

Bloomberg The US is open to facing “repercussions” if it doesn’t live up to its commitments in a potential trade deal with China, Treasury Secretary Steven Mnuchin said, in a sign that the two sides are edging closer to an accord. “There are certain commitments that the United States is making in this agreement, and there are certain commitments that ...

Bloomberg India is witnessing a listless growth in electricity demand, possibly signalling more slowdown in Asia’s third-largest economy. Electricity requirement from distribution utilities in February rose 1.3 percent from a year earlier and barely changed from January’s 1.1 percent, the weakest growth in two years, according to the power ministry’s Central Electricity Authority. Data for power generation, a proxy for ...

Bloomberg Publicis Groupe SA agreed to buy digital marketing firm Epsilon from Alliance Data Systems Corp. for $4.4 billion in cash, propelling the French advertising group further beyond a weakening conventional ad business in its biggest takeover yet. Epsilon’s services span loyalty programs to email marketing and its Conversant unit collects consumer data including transactions, location and web activity. The ...

Bloomberg For all the ink spilled over climate change and the global energy transition, the world’s biggest energy companies are focusing on where it all began: American oil. Chevron Corp.’s $33 billion acquisition of Anadarko Petroleum Corp.will make the US company the largest producer in the dusty plains of the Permian Basin by giving it control of an oil-rich area ...

Bloomberg Investor unrest is increasing after Bayer AG sweetened Chief Executive Officer Werner Baumann’s bonus even as court battles over Monsanto’s Roundup weedkiller have destroyed billions in the company’s market value. Shareholder and corporate governance expert Christian Strenger, a former CEO of DWS Investment, filed a motion proposing that members of the supervisory board not be discharged of responsibility for ...