News

Bloomberg The UK published its long-awaited immigration plan for life outside the European Union, to end freedom of movement from the bloc and prioritise skilled workers regardless of nationality. Home Secretary Sajid Javid said the aim was to bring net migration down to “sustainable levels.” Reducing immigration has been a major issue for British voters and was a key motivation ...

Bloomberg The BBC is in talks with Irish and Dutch authorities to obtain licenses allowing it to continue broadcasting across the European Union in the event of a no-deal Brexit, according to two people familiar with the matter. The UK licenses that the taxpayer-funded British Broadcasting Corp uses to beam hit shows including nature documentary “Blue Planet 2,’’ “Top Gear’’ ...

Bloomberg Global trade developments may dictate how lively Canadian corporate bond sales are next year. Trade tensions, which increased volatility and caused sales in the Canadian corporate securities market to collapse in the fourth quarter, are poised to continue. Issuers pulled back from the market in the fourth quarter and in 2019 volatility may put investors in the driver’s seat ...

Bloomberg BMW AG dodged a takeover attempt by Mercedes-Benz parent Daimler AG six decades ago, and ever since the two luxury-car icons have been bitter rivals — until recently. Reflecting the historic challenges gripping the auto industry, BMW and Daimler are reaching across the aisle to team up in what’s become an emerging trend in the sector. The latest rapprochement ...

Bloomberg Gibraltar was ordered by European Union regulators to reclaim some 100 million euros ($114 million) in tax breaks that aimed to lure multinational firms to the British territory. The European Commission said Gibraltar’s corporate tax exemption rules for interest and royalties unfairly favored some multinational firms. It also judged illegal five tax rulings involving some income from Dutch partnerships. ...

ABU DHABI / WAM Digital economy can contribute more than $3 trillion to Arab GDP growth, according to key recommendations and insights from the First Arab Digital Economy Conference, which concluded in the UAE capital on Wednesday. The importance of adopting the vision of the Arab digital economy for the growth opportunities of the Arab countries’ GDP is in direct ...

ABU DHABI / WAM The Abu Dhabi government and the Abu Dhabi National Oil Company (Adnoc) have awarded Austria’s OMV a 5 percent stake in the Ghasha ultra-sour gas concession that comprises the Hail, Ghasha, Dalma, Nasr, Sarb and Mubarraz sour gas fields. OMV, which joins Italy’s Eni and Germany’s Wintershall as Adnoc’s partners in the concession, will contribute 5 ...

Bloomberg Donald Trump declared victory over IS, as officials said he’s ordered a full withdrawal of US forces from Syria in a sharp reversal of American policy that appeared to take the Pentagon by surprise. The US military is working to quickly carry out Trump’s order, according to the officials, but it wasn’t clear how soon the approximately 2,000 troops ...

DUBAI / WAM The number of Chinese tourists travelling to the GCC is expected to increase 81 percent from 1.6 million in 2018 to 2.9 million in 2022, according to data published ahead of Arabian Travel Market (ATM) 2019, which takes place at Dubai World Trade Centre from April 28 to May 1, 2019. The latest research from Colliers International, ...

DUBAI / WAM Dubai-based airline flydubai announced the start of flights to Budapest in Hungary and Naples in Italy. flydubai will operate up to five flights a week to Naples from June 4, 2019, becoming the first UAE carrier to offer direct flights. Daily flights to Budapest will start on June 27, 2019, and will be in addition to the ...