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Bloomberg Allianz Malaysia Bhd has been chosen to progress in talks to acquire Malaysia’s second-biggest car insurer after edging out Japanese rival Mitsui Sumitomo Insurance Co, people with knowledge of the matter said. AmGeneral Insurance Bhd’s owners have decided to enter detailed discussions with Allianz on a potential deal, according to the people, who asked not to be identified because ...

Bloomberg Indonesia will seek to sustain the growth in domestic consumption and boost government spending in a bid to shield itself from a spillover of slowing economic growth in China, according to Finance Minister Sri Mulyani Indrawati. The success in maintaining people’s purchasing power and consumption, which accounts for more than 55 percent of Indonesia’s gross domestic product, will determine ...

Bloomberg Investors locked into holding newly-listed Hong Kong stocks could only watch as last year’s bear market ate away at their returns. The shackles will soon be off. Xiaomi Corp saw a wave of selling after its lockup period — when key investors are banned from selling stock — ended three weeks ago. Similar restriction terms are due to end ...

Bloomberg The Trump administration will press China to prove it can keep promises in talks this week aimed at ending the trade war, Treasury Secretary Steven Mnuchin said, as the US ratcheted up legal pressure on one of the biggest examples of Chinese technological might. In a sign of the importance the White House is placing on the talks, President ...

Bloomberg Europe warned the world’s biggest tech and advertising companies that they need to intensify efforts to combat disinformation on their platforms ahead of European elections, or face regulation. The European Commission, the bloc’s executive body, acknowledged that companies such as Alphabet Inc’s Google, Twitter Inc and Facebook Inc, had made “some progress”, in particular with removing fake accounts and ...

Bloomberg T-Mobile US Inc Chief Executive Officer John Legere and Sprint Corp Chairman Marcelo Claure agreed to testify about their planned $26.5 billion merger before a Democratic-controlled House panel that is expected to bring tougher scrutiny to the consolidation of telecom giants. The hearing, scheduled for February 13, gives Representative David Cicilline of Rhode Island, the chairman of the House ...

Bloomberg Anyone looking for an upbeat forecast from Apple Inc is likely to be disappointed when the company’s results were expected on Tuesday. The company is set to report its first holiday quarter sales decline since the iPhone launched, and analysts are predicting revenue will keep shrinking in the current quarter. In early January, Chief Executive Officer Tim Cook forecast ...

DUBAI / WAM Abdul Rahman Mohammad Al Owais, Minister of Health and Prevention (MOHAP) met with Dr Tawfiq bin Fawzan Al Rabiah, Saudi’s Minister of Health, and Dr Basel Al-Sabah, Kuwaiti Minister of Health, and discussed ways of boosting cooperation in the health sector between the UAE, Saudi Arabia, and Kuwait. During the meeting, which was held on the sidelines ...

HADRAMAUT / WAM The Emirates Red Crescent (ERC) has completed the digging of six artesian wells, connected them to the main water line, installed pumping units and ran extensions to their targeted locations, to benefit regions and villages in the edge of Hadramaut Desert. The construction of the wells is part of a project launched by the ERC to provide ...

Bloomberg Saudi Arabian Oil Co is taking a nearly 20 percent stake in South Korean oil refiner Hyundai Oilbank Co for $1.6 billion (AED5.87 billion), tightening the grip of the world’s top crude exporter on the biggest oil consuming region. The Saudi state-owned giant, known as Aramco, is seeking to firm up its customer base and market share in Asia ...