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Trump aims to limit Google, Facebook, liability in ‘NAFTA’

Bloomberg The Trump administration is pushing to add legal protections in NAFTA that would limit the liability of internet giants such as Google and Facebook, marking the latest in a tug-of-war as policy makers balance policing the web with protecting free speech. US Trade Representative Robert Lighthizer included the proposal in an updated US wish-list for the North American Free ...

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Bombardier eyes Morocco rail factory as part of African push

Bloomberg Bombardier Inc.’s train-equipment arm is looking to build a factory in Morocco if it wins a contract to supply rolling stock to the country’s state-owned railways. The facility would build railcars and perform engineering and maintenance work, Marc-Andre Lefebvre, a Bombardier spokesman, said. It would have about 600 employees and could open as soon as 2020, he said, declining ...

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Uber to merge Russian business with Yandex

Bloomberg Yandex NV, Russia’s largest technology company, received local antitrust approval to merge its ride-hailing business with Uber’s in the country, the Russian Federal Antimonopoly Service said. Ordering rides from smartphone apps is driving growth in the Russian taxi market but the Yandex-Uber joint venture is required not to prevent its passengers, drivers and partners from working with other ride-hailing ...

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Skype disappears from Chinese app stores in web crackdown

Bloomberg Microsoft Corp.’s Skype has vanished from Apple Inc. and Android smartphone app stores in China, becoming the latest victim in Beijing’s sweeping internet clampdown. The internet phone and video service was no longer available on Apple’s iOS or on popular local Android stores such as Xiaomi Corp’s. The Ministry of Public Security notified Apple that a number of voice-over-internet-protocol ...

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Russia, OPEC reach consensus on outline to extend oil curbs

Bloomberg OPEC and Russia have crafted the outline of a deal to extend their oil production cuts to the end of next year, although both sides are still hammering out crucial details, according to people involved in the conversations. The Organisation of Petroleum Exporting Countries and several non-OPEC nations led by Russia will meet next week in Vienna to discuss ...

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Equatorial Guinea aims tie-up with Venezuela on $2bn refinery complex

Bloomberg Equatorial Guinea, OPEC’s newest member, is looking to build a $2 billion oil-refining complex that may be operated by Venezuela’s state-run crude producer PDVSA. The refining complex in Equatorial Guinea is expected be announced in January and take two years to be completed, Gabriel Obiang, Equatorial Guinea’s Minister of Mines, Industry and Energy, said in an interview while attending ...

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Engie sells Aussie Loy Yang plant to Alinta

Bloomberg Engie SA and Mitsui & Co. agreed to sell the Loy Yang B coal power plant in Australia’s Victoria state to Alinta Energy Holdings Ltd., boosting the Hong Kong-owned utility’s exposure to the fossil fuel. Alinta’s owner, Chow Tai Fook Enterprises Ltd., entered into a conditional binding agreement to buy the 1,000-megawatt station, the company said in an emailed ...

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BASF in talks to merge oil unit with Fridman’s Dea, sees IPO

Bloomberg BASF SE said it’s in talks to combine its oil-and-gas unit with the energy company controlled by Russian billionaire Mikhail Fridman, setting the stage for one of the largest deals in the sector for some time. The German chemicals company would hold a majority in the combined entity, with a view to a possible initial public offering “in the ...

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ADNOC, Abu Dhabi Ports to establish high tech marine simulation centre

Abu Dhabi / Emirates Business The Abu Dhabi National Oil Company (ADNOC) and Abu Dhabi Ports are to establish a joint Marine Simulator Centre in Musaffah, Abu Dhabi, to provide a range of maritime training for the UAE’s growing marine workforce. Under this long-term partnership, the Marine Simulation Centre will provide training for ADNOC employees and serve the wider marine ...

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Bank of Sharjah, Invest Bank in merger talks to form $13.8bn entity

Dubai / Reuters Bank of Sharjah and Invest Bank are in merger talks that could create an institution with about AED50.6 billion ($13.8 billion) of assets, sources familiar with the matter told Reuters. In the latest latest sign of consolidation in the United Arab Emirates’ crowded banking industry, the two lenders have held on-and-off discussions over a potential merger since ...

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