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Bloomberg Uber Technologies Inc. is in advanced discussions to sell a $1 billion stake in its costly self-driving car unit to a consortium of investors led by SoftBank Group Corp., people familiar with the plans said. The deal would value the autonomous-vehicle business at $5 billion to $10 billion, and Uber would retain a majority stake, said the people, who ...

Bloomberg With or without Brexit, Britain is surely the toughest market for European utilities to make money in right now. After years and years of surging bills, disgruntled homeowners are abandoning the nation’s biggest energy suppliers at an alarming rate. In strikingly somber tones, utilities from Innogy SE to Centrica Plc have dished out bearish outlooks detailing their woes in ...

Bloomberg The Boeing Co. 737 Max crash in Ethiopia looks increasingly likely to hit the planemaker’s order book as mounting safety concerns prompt airlines to reconsider purchases worth about $57 billion. VietJet Aviation JSC, which doubled its order to 200 of the aircraft priced at about $25 billion only last month, said it will decide on its future plans once ...

ABU DHABI / WAM Abu Dhabi Airports Free Zone (ADAFZ) has reduced business setup costs by more than 65 percent, with the aim of improving customer satisfaction, enhancing its regional competitiveness and attracting new sources of foreign direct investment (FDI). The business setup cost reduction also supports the government of Abu Dhabi’s latest initiatives aimed at strengthening the competitive business ...

Abu Dhabi / WAM The value of non-oil foreign merchandise trade through Abu Dhabi ports increased by 6.8% from AED156.2 billion in 2017 to AED166.9 billion in 2018, according to figures released Abu Dhabi Statistics Centre (SCAD). “This was the result of a 23.8% increase in non-oil exports from AED22.3 billion to AED27.7 billion, 20.7% increase in re-exports, and 0.7% ...

DUBAI / Emirates Business Dubai ranked first globally in attracting foreign direct investments (FDIs) for artificial intelligence (AI) and robotics; while the UAE ranked sixth in the global smart service index, surpassing the US, UK and South Korea. The emirate has attracted from 2015 to 2018 $21.6 billion worth of FDI in high-end technology transfers, with the most from the ...

DUBAI / WAM Dubai Aerospace Enterprise (DAE) Ltd announced that it has completed the delivery of six Boeing 787-9 Dreamliner aircraft to Gulf Air based on an aircraft lease agreement that was signed in November 2017 and were delivered between April 2018 and February 2019. FirozTarapore, Chief Executive Officer of DAE, said: “We are delighted to partner with Gulf Air ...

Bloomberg Crude rose for a third day after an industry report showed an unexpected drop in US stockpiles at a time when the world’s top producers are said to be looking at a plan to extend their output curbs. Futures in New York added as much as 0.7 percent, rising above $57 a barrel. US crude inventories declined 2.58 million ...

Dubai / Emirates Business Celebrated every year on the second Thursday of March, World Kidney Day (WKD) is the global awareness campaign that aims at increasing awareness of the importance of our kidneys to our health and reducing the impact of kidney disease and its associated problems worldwide. Chronic Kidney Disease (CKD) is a non-communicable disease that affects 1 in ...

Dubai / Emirates Business dnata, one of the world’s largest air services providers, announced the appointment of Dirk Goovaerts as the company’s Regional Chief Executive Officer (CEO) for the Asia Pacific region. In his role, Dirk Goovaerts will oversee dnata’s catering, ground and cargo handling operations at 10 airports in three countries, including Australia, the Philippines and Singapore, managing a workforce ...