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Bloomberg The European Union can help settle the burgeoning trade spat between the US and China, European Commission Vice Presidents Jyrki Katainen and Valdis Dombrovskis said. Rather than participate in the dispute, the EU can leverage its role as the world’s largest market to uphold the rules of international trade and push back against unilateral tariffs like the ones backed ...

Bloomberg Blackstone Group LP is in the early stages of marketing a group of select-service hotels, according to people with knowledge of the matter. A sale of about 15 US properties would be part of the ordinary course of managing a large portfolio, said one of the people, who asked not to be identified because the process is confidential. While ...

Bloomberg The Trump administration has softened a key Nafta demand for more North American content in car manufacturing—a potential olive branch on arguably the biggest sticking point as the US pushes to reach a stopgap deal this month, according to three people familiar with the talks. The US proposal would distinguish between different Nafta car parts by grouping them into ...

MANAMA / Reuters A new discovery off the coast of Bahrain is estimated to contain at least 80 billion barrels of tight oil, the kingdom’s biggest ever find, Bahrain’s oil minister said. Bahrain said it had discovered extensive tight oil and deep gas resources off the west coast of the kingdom. Independent appraisals by US-based oil consultants DeGolyer and MacNaughton ...

SHARJAH / WAM Rexton Technologies has announced that it will open the largest LED light manufacturing facility in the Middle East and North Africa (MENA) region at the Sharjah Airport International Free Zone (SAIF Zone). The organisation will also launch a state of the art laboratory that specialises in LED light technologies within the facility. The two new facilities, which ...

DUBAI / WAM Emirates Central Cooling Systems Corporation (Empower) announced that it has signed an agreement to connect its services to the Address Hotel at JBR, Marsa Dubai, with a total capacity of 6,500 Refrigeration Tonnes (RT). Empower noted that it will start delivering its district cooling services in July 2019. “We are committed to providing highly-efficient district cooling services, ...

LONDON / Reuters OPEC oil output fell in March to an 11-month low due to declining Angolan exports, Libyan outages and a further slide in Venezuelan output, a Reuters survey found, sending compliance with a supply-cutting deal to another record. The Organization of the Petroleum Exporting Countries pumped 32.19 million barrels per day last month, the survey found, down 90,000 ...

Abu Dhabi / Emirates Business In collaboration with more than twenty business councils from around the world, Khalifa Industrial Zone Abu Dhabi (KIZAD), a subsidiary of Abu Dhabi Ports, brought together more than 500 companies, investors, officials and diplomats to discuss investment opportunities in KIZAD and Khalifa Port Free Trade Zone (KPFTZ), the largest free zone in the Middle East. ...

DUBAI / Emirates Business Business leaders and CEOs from top Ghanaian banks and insurance companies will join a trade mission to Dubai later this month which is being organised by the Dubai Chamber of Commerce and Industry’s representative office in Accra. The trade mission will be held from April 7-13 and coincide with the Annual Investment Meeting 2018 in Dubai. ...

ABU DHABI / WAM The Federal Authority for Identity and Citizenship (ICA), achieved 100 percent, compared to 88.5 percent in 2016, in transforming its services to smart and electronic services, based on the findings of the Smart Government Enablers Indicators annual evaluation report 2017, issued by the Telecommunications Regulatory Authority (TRA). The report commended the efforts made by ICA to ...