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Bloomberg Uganda, which plans to produce and refine its own oil, said it will require as much as $70 million to construct a storage facility for refined products on the outskirts of the capital, Kampala. The East African country will initially build storage with capacity for 60,000 cubic meters that it may upgrade to 138,000 cubic meters if there’s demand, ...

Bloomberg Iraq is pumping oil at normal levels even as protests spread across the southern region from where OPEC’s second-biggest producer exports most of its crude, according to a government spokesman. “Production and exports from southern Iraq are stable as per normal levels,” Oil Ministry spokesman Asim Jihad said by phone. Authorities have deployed security forces to protect energy fields ...

Bloomberg European Union (EU) President Donald Tusk called on Donald Trump to reform the world order rather than bring it down, warning that trade wars can lead to “hot conflicts.” Tusk issued his appeal in opening remarks to an annual EU-China summit on Monday, as he made an explicit link between the European delegation visiting Beijing and the US president’s ...

Bloomberg Tesla Inc. may nearly double the number of cars it’s selling in Russia after a mobile-phone retailer backed by billionaire Alisher Usmanov unexpectedly added electric vehicles to the line of gadgets it offers. Svyaznoy, co-owned by Usmanov’s wireless carrier MegaFon PJSC, said it received orders for 236 vehicles in June, the first month it started sales jointly with importer ...

Bloomberg Papa John’s International Inc.’s board put further distance between the pizza chain and its outspoken founder John Schnatter for using a racial slur, agreeing to review all ties to him, evict him from the headquarters, and remove him from all marketing materials. A special committee of independent directors ordered the termination of a so-called founder’s agreement that designated Schnatter ...

Bloomberg Airbnb Inc. was warned by the European Union (EU) to expect a regulatory clampdown unless its terms and conditions and the way it presents holiday-home prices comply with EU standards by the end of August. The online platform must present pricing information in a more transparent way and make the distinction between private and professional hosts clearer to consumers, ...

Bloomberg It may be starting to sound like a broken record for emerging markets, with the twists and turns of US-China trade tensions likely to dominate investor concerns this week. That’s not to say Federal Reserve Chairman Jerome Powell’s two-day Congressional testimony and even the outcome of Monday’s meeting between Donald Trump and Vladimir Putin in Finland won’t have a ...

ABU DHABI / WAM In a report celebrating its 47th anniversary, Abu Dhabi Fund for Development (ADFD) announced that it has expended a total of AED84 billion to finance approximately 550 projects in 88 beneficiary countries. Since its inception on July 15, 1971, ADFD has disbursed AED37 billion in concessionary loans, AED44 billion in UAE government grants and AED3 billion ...

MOSCOW / WAM France won the World Cup Russia in a thrilling final with Croatia at Moscow’s Luzhniki stadiumon on Sunday. France overwhelmed Croatia 4-2 to be FIFA World Cup 2018 champion for second time, after winning in 1998. Croatia was playing in its first World Cup final. For France, it was a first World Cup crown since winning on ...

ABU DHABI / WAM The UAE Cabinet has affirmed that the UAE’s competitiveness as a leading destination in family tourism supports the national economy and enhances domestic and foreign investments in the tourism sector. This came during the Cabinet’s approval of a decision to exempt the accompanying dependents of foreign tourists under the age of 18 from visa fees, from ...