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DUBAI / WAM The Board of Executive Directors of Roads and Transport Authority (RTA), chaired by Mattar Al Tayer, Director-General and Chairman of the Board, has endorsed the awarding of a contract for procuring 125 new school buses. The new buses will add to the fleet of the Dubai Taxi Corporation (DTC) to cope with the growing school transport activity. ...

Dubai / Emirates Business Dhofar Global, a leading supplier of hygiene products in the Middle East, announced that it has signed an agreement with AccorHotels, the world’s leading travel & lifestyle group. Through the agreement, Dhofar Global will supply world-class cleaning and hygiene products for the hotels the Group operates in the UAE, Oman, Bahrain and the Seychelles. The deal ...

­­­­­­­­­­­Bloomberg At a crucial time when Uber Technologies Inc. is looking to fill a leadership void, repair a foul corporate culture, salvage morale, fend off rivals worldwide, prove it didn’t benefit from stolen trade secrets and deal with a host of other issues, the ride-hailing company is forced to hit the pause button. Benchmark, a major shareholder, declared what is ...

Bloomberg The US may not be the best country for Britain to start its post-Brexit trade agreements with, according to Adam Marshall, director general of the British Chambers of Commerce. “I wouldn’t want to go up against them, early on, when I’m just getting on my feet again as a country going into free trade agreements,” Marshall said in an ...

Bloomberg London Mayor Sadiq Khan said he wanted to try city-wide auctions as part of an environment strategy proposed to more than double the capital’s solar energy generation capacity by 2030. The reverse auctions would be similar to the Solarize NYC model already used in New York, where multiple buyers pool together and panel sellers compete for one single contract, ...

Bloomberg SoundCloud Ltd., the popular but financially strapped digital music service, is getting a lifeline from new investors who have agreed to pump $170 million into the company. The new investment keeps the Berlin-based company alive but comes with strings attached. SoundCloud Chief Executive Officer Alex Ljung is being replaced by Kerry Trainor, the former head of the online video ...

Bloomberg Snap Inc.’s growth again fell short of estimates, feeding fears that aggressive competition from Facebook Inc. is blunting the younger social-media company’s potential just months after its IPO. The Los Angeles-based company said daily active users reached 173 million in the second quarter, compared with 166 million in the prior period. Analysts polled by Bloomberg had expected 175 million ...

LONDON / Reuters OPEC forecast higher demand for its crude in 2018 due to rising global consumption, and pointed to signs of a stronger oil market that suggest an OPEC-led production cut is getting rid of price-sapping excess supply. In a monthly report, the Organization of the Petroleum Exporting Countries said the world would need 32.42 million barrels per day ...

CAIRO / Reuters Egypt’s key inflation rates soared to multi-decade highs on the back of energy sub- sidy cuts agreed with the International Monetary Fund as a condition of its $12 billion three-year loan. Annual urban inflation for July hit a critical high of 33.0 percent from 29.8 percent in June, the official CAPMAS statistics agency said, the highest since ...

Reuters Freight rates for very large crude carriers (VLCCs) on Asian routes may have finally bottomed as owners attempt to resist moves by charterers to push rates still lower, brokers said. “This is a really bad market now. The floor keeps getting lower but I think there’s now resistance by owners,” said a Singapore-based supertanker broker. That came as VLCC ...