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Dubai / WAM The UAE has joined the world in celebrating World Biodiversity Day, which is observed annually on May 22. This year’s celebration is being held under the theme ‘Celebrating 25 Years of Action for Biodiversity,’ to mark the 25th anniversary of the entry into the force of the Convention on Biological Diversity, ratified by the UAE in 1992 ...

Bloomberg China’s appetite for US liquefied natural gas may be about to get a lot bigger after the two nations agreed to pull back from the brink of a trade war. If China makes a substantial commitment to buying US LNG, it could bring $30 billion back into the country, according to a Height Securities LLC report. The White House ...

Bloomberg Oil extended gains as a new wave of US sanctions on Venezuela stoked concerns over its crude production and as analysts forecast further declines in American stockpiles. Futures in New York added as much as 0.4 percent after US President Donald Trump ordered sanctions on debt owed to Venezuela after the Latin American country’s President, Nicolas Maduro, won a ...

Bloomberg Glencore Plc is close to a $1 billion deal to buy Chevron Corp.’s southern African assets, potentially scuppering an earlier agreement with China Petroleum & Chemical Corp., according to three people familiar with the matter. The Switzerland-based miner and trader will complete the deal within the next six weeks, said one of the people who asked not to be ...

Bloomberg China will cut the import duty on passenger cars to 15 percent, further opening up a market that’s been a chief target of the US in its trade fight with the world’s second-largest economy. The Finance Ministry said the levy will be lowered effective July 1 from the current 25 percent that has been in place for more than ...

Bloomberg After years of being sidelined by Japan’s laws against ride-sharing, Uber Technologies Inc. won government approval for a taxi-hailing pilot programme in Japan. Starting this summer, Uber will connect local drivers and passengers in Awaji, a remote island that’s home to 120,000 people and a dozen taxi companies, the company said in a statement. The pilot, which will last ...

Bloomberg Hyflux Ltd., the Singapore water treatment firm, is considering seeking a form of court protection to facilitate negotiations with creditors, people with knowledge of the matter said. The company is considering asking the Singapore courts for a 30-day moratorium preventing creditors from taking certain actions that could hurt its financial position, according to one of the people. The move ...

Bloomberg Sony Corp., once known for pushing the boundaries of technology, is starting to look a little bit boring under Kenichiro Yoshida. The new CEO’s reputation as a stoic numbers guy was demonstrated on Tuesday when he unveiled mid-term targets for the first time as chief executive officer, predicting conservative profit growth across most divisions over the next three years ...

Bloomberg Eight years ago, before China’s Xiaomi Corp. had sold a single smartphone, 56 of the earliest employees pulled together $11 million to invest in the startup. Rank-and-file workers dipped into savings and borrowed from parents. One receptionist tapped her dowry. Today, they’re the Lucky 56. Xiaomi is one of the most successful smartphone makers in the world and it’s ...

Bloomberg President Donald Trump retreated from imposing tariffs on billions of dollars worth of Chinese goods because of White House discord over trade strategy and concern about harming negotiations with North Korea, according to people briefed on the administration’s deliberations. Trump also succumbed to pressure from farm-state Republicans, who heavily lobbied the White House to resolve its trade differences with ...