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  Bloomberg China has provided the clearest indication to date that it plans to lift the cap on how much foreign carmakers can own of their local joint ventures, putting pressure on Chinese carmakers to speed up the building of their own brands. In a joint release on Tuesday, the National Development and Reform Commission together with the science and ...

  Bloomberg Netmarble Games Corp. will raise as much as $2.3 billion after pricing its initial public offering at the top of its targeted range, amassing funds to get into new markets and titles. The South Korean mobile games company will sell 17 million new shares to raise as much as 2.66 trillion won ($2.3 billion) in the country’s largest ...

  Bloomberg Indian billionaire Kumar Mangalam Birla is exploring entry into the production of carbon fiber, a high-strength and light-weight composite material expected to be a $4.7 billion global business by 2022, according to a person familiar with his thinking. The Aditya Birla Group, the $40 billion mining-to-mobile phone carrier conglomerate, may buy the technology to manufacture carbon fiber at ...

  Bloomberg US President Donald Trump intensified a trade dispute with Canada, slapping tariffs of up to 24 percent on imported softwood lumber in a move that drew swift criticism from the Canadian government, which vowed to sue if needed. Trump announced the new tariff at a White House gathering of conservative journalists, shortly before the Commerce Department said it ...

  Bloomberg Britain kept to its borrowing forecasts in a pre-election boost for Chancellor of the Exchequer Philip Hammond but cracks in the public finances are appearing as consumers feel the pain from inflation. The deficit narrowed to 52 billion pounds ($66.6 billion) in the fiscal year through March, in line with the 51.7 billion pounds forecast by budget officials ...

  Bloomberg Swiss drugmaker Novartis AG said it will scout for medicines that are in earlier stages of development as acquisition price tags climb across the industry. “The price of some of these assets has increased to the point that we don’t feel like we can create value for Novartis shareholders,’’ Chief Executive Officer Joe Jimenez said on a conference ...

  DUBAI / WAM Dubai Aerospace Enterprise (DAE) reached an agreement to buy Dublin-based AWAS Aviation Capital Ltd. from UK private equity firm Terra Firma Capital Partners, DAE announced on Monday. The multi-billion deal will propel DAE, one of the Middle East’s biggest plane-leasing companies, into the top rank of global players in the field. The deal will swell the ...

  Abu Dhabi / Emirates Business Abu Dhabi achieved a record 4% rise in the number of hotel guest arrivals over the first three months of the year in comparison to the same period in 2016. The increase in hotel guest arrivals was driven by the rapid growth in visitor numbers from China and Russia. New visa-on-arrival regulations have seen ...

  Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, today received the players of the National Jiu-Jitsu Team who won gold medals at the 9th Abu Dhabi World Professional Jiu-Jitsu Championship 2017, in His Highness’s Council at the Al Bahr Palace. HH Sheikh ...

  Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, received at his palace here on Monday Archbishop Atallah Hanna of Jerusalem. During the meeting, His Highness Sheikh Mohamed bin Zayed welcomed the visit of Archbishop of Jerusalem to the UAE. They exchanged views ...