News

Bloomberg Apple Inc. should be probed by the European Union’s antitrust agency over how it allegedly squeezes rival music streaming services, Spotify Technology SA said, escalating a row over how Apple takes a cut of all sales on its app store. The iPhone maker has created an “untenable” situation by imposing ever-changing rules and a 30 percent tax for apps ...

Bloomberg The UK will avoid imposing tariffs on most imported goods in the event of a no-deal Brexit, though officials said prices of key Eu-ropean Union products including beef, cheese and cars will rise. The government said on Wednesday its “balanced approach” aims to offset a spike in prices that consumers would experience in a no-deal departure as a result ...

Bloomberg Volkswagen AG’s main car brand plans to deepen cost cuts and ax more jobs as profits slip in the industry’s shift to electric and self- driving cars. The German carmaker said on Wednesday it will eliminate as many as 7,000 positions — with measures including early retirement and not filling vacant positions — for an annual profit gain of ...

Bloomberg The European Union set new criteria for the use of palm oil in biofuels in a balancing act to avert a trade war with producers in Asia while appeasing climate protagonists at home. The measure approved by the European Commission on Wednesday spells out the type of biofuels from palm oil that may be counted towards the EU’s renewable-energy ...

DUBAI / WAM Dubai-based master developer Nakheel is heading back to MIPIM, the leading real estate exhibition held at Palais des Festivals in Cannes, France, for the fourth year. The developer will showcase plethora of real estate investment opportunities — including newly-launched residential projects — collectively worth more than $15.8 billion. Nakheel, which first represented Dubai at MIPIM in 2016, ...

Bloomberg Boeing Co. grappled with more groundings of its most important airliner as operators from Brazil to South Korea idled the 737 Max following a second deadly crash, throwing the US manufacturer deeper into crisis. In a sign that the tragedy in Ethiopia, which killed everyone on board, threatens to become a commercial fiasco for Boeing, launch customer Lion Air ...

RIYADH / WAM Etihad Airways, the national airline of the United Arab Emirates, and Saudi national flag carrier, Saudi Arabian Airlines, announced positive growth in traffic since their codeshare partnership began in November 2018. Jointly, Etihad and Saudia have flown over 16,000 guests across the partnership, solidifying the airlines’ commitment to growing inbound business and tourism in their respective markets. ...

DUBAI / Emirates Business Emirates on Tuesday announced the launch of a second daily flight from Dubai (DXB) to London Stansted (STN) starting July 1. The additional flight means that Emirates customers will now have 11 daily flight options to and from three London airports. As with the first, the second daily flight to Stansted will also be operated by ...

ABU DHABI / Emirates Business Abu Dhabi Fund for Development (ADFD), the leading national entity for international development aid, extended a financial contribution to the talent centre at Dar Zayed for Family Care (DZFC), an organisation dedicated to the care of orphans. In line with the Fund’s 2019 corporate social responsibility (CSR) agenda, the endowment seeks to support DZFC in ...

RED SEA COAST / WAM The UAE, represented by the Emirates Red Crescent (ERC), implemented six water projects in six villages in Dhubab District on Yemen’s Red Sea Coast, adding to the number of villages benefitting from its new water projects, which now totals 12. The six water projects included the restoration of artesian wells in Al Watan, Al Jafer, ...