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Abu Dhabi / WAM The Emirates Red Crescent (ERC), sent relief convoys to a number of Shabwa districts, Yemen, including 1,400 food baskets benefiting more than 8,120 low-income citizens as part of its humanitarian programme to help people who suffer from a difficult humanitarian situation. The distribution of food baskets targeted desert areas of Nisab and Usaylan districts in Shabwa, ...

Abu Dhabi / WAM The Khalifa Fund for Enterprise Development (KFED), signed a Memorandum of Understanding (MoU), with the Central Bank of the UAE which will enable the fund to employ the direct debit system of the Central Bank and receive payment from its’ entrepreneurs directly from their accounts in any bank which operates within the UAE. The agreement was signed by ...

Bloomberg Eskom Holdings SOC Ltd. said will cut 3,000 megawatts of power from the South African grid from 8 a.m. until 11 p.m on Wednesday, marking the fourth consecutive day of such measures. The state-owned power utility, which supplies more than 90 percent of the country’s electricity, is implementing the rolling blackouts due to a shortage of generating capacity, Eskom ...

Bloomberg The Indian government’s $8.7 billion purchase of French warplanes was cheaper than a bid negotiated under the previous government, the country’s auditor said, potentially weakening an opposition campaign alleging corruption ahead of federal polls. Prime Minister Narendra Modi bought 36 Rafale fighters in 2015 from Dassault Aviation SA at 2.86 percent lower than the price negotiated by the former ...

Bloomberg Carlos Ghosn replaced his legal team in Tokyo as he prepares for a trial on the financial-misconduct allegations that have shocked the global car industry and kept the former Nissan Motor Co. chairman in jail for almost three months. Ghosn said on Wednesday he hired Junichiro Hironaka to be his new lawyer and help him with the “trial phase” ...

Bloomberg India billionaire Kumar Mangalam Birla’s Hindalco Industries Ltd. has gathered a consortium of Asian, US and European banks to fund its takeover of aluminum producer Aleris Corp. Novelis Inc., the US unit of Hindalco, has mandated a 20-strong bank group to arrange a $2.28 billion dual-tranche loan that will finance the purchase of US-based Aleris, according to people familiar ...

Bloomberg Reddit Inc. said that it raised $300 million from investors. It was one backer, in particular, that drew condemnation from members of Reddit’s online community. Chinese internet giant Tencent Holdings Ltd. was among the investors in the round, which values the link-sharing website at $3 billion. In the following days, users posted links to Reddit depicting imagery banned by ...

Bloomberg The yuan is entering a critical period after posting its second-best monthly advance ever, with analysts sounding caution as a new round of China-US trade talks gets underway. The Chinese currency could head to 7 per dollar if there’s a breakdown in the negotiations, while an agreement on no additional tariffs will send it on a sustained rally, Citigroup ...

Bloomberg In the battle between Asia’s two highest-yielding major bond markets, Indonesia once again appears poised to gain the upper hand over India. Global money managers are increasingly shunning Indian securities as Narendra Modi’s government hands out billions of dollars in tax cuts and subsidies to boost the prime minister’s appeal ahead of elections, blowing through the nation’s deficit target ...

Bloomberg US nuclear energy developers met with President Donald Trump and asked for help winning contracts to build power plants in the Middle East and elsewhere overseas. “There is competition around the globe, and we want to be part of it,” said Chris Crane, the chief executive officer of Exelon Corp., the largest US operator of nuclear plants, following the ...