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Bloomberg The UK’s Competition and Markets Authority (CMA) called for sweeping new powers to roll back the dominance of Google and Facebook Inc. in the online-advertising market, a move designed to push global regulators to be more aggressive against the tech giants. The watchdog said a new regime should have the ability to respond far more quickly to digital monopolies ...

Bloomberg Bankrupt Hertz Global Holdings Inc. and its bondholders are squaring off over how to shrink its nearly half-a-million vehicle fleet. Market watchers say the outcome could upend the multi-billion dollar lease-backed ABS industry. The cars are housed in an entity linked to Hertz’s asset-backed securities and leased to the rental giant. Normally, when a company with ABS files for ...

Bloomberg Rental e-scooters will become legal on UK roads from July 4 after the government published the rules companies must follow to deploy the electric vehicles. Large-scale trials can start at the weekend and last for a year, the Department for Transport said in a statement. It will closely monitor activity and public feedback with a view to fully legalising ...

Bloomberg Daimler AG Chief Executive Officer Ola Kallenius said the maker of Mercedes-Benz cars and the industry as a whole face painful cutbacks to overcome the economic fallout of the Covid-19 pandemic. The virus outbreak will force manufacturers to do more significant restructuring than they had planned before the crisis erupted, Kallenius said during a webcast hosted by Germany’s largest ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, reviewed final preparations of the Hope Probe, scheduled to launch to Mars on July 15. The meeting was chaired by HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, and President of the ...

Dubai / WAM Nasdaq Dubai has welcomed the listing of three sukuk issued by the government of Indonesia with a total value of $2.5 billion. The sukuk achieved nearly 6.7 times subscription by investors, including international investors in Asian and Middle East countries. The listings comprise a 10-year issuance of $1 billion and two issuances of $750 million each, one ...

Abu Dhabi / WAM The UAE Ministry of Economy (MoE) has taken part in a video conference organised by the delegation of the European Union to the UAE, with the participation of Trade Counsellors from European Union (EU) Member States represented in the country. During the virtual session, Juma Mohammed Al Kait, Assistant Under-Secretary of the UAE Ministry of Economy for ...

Abu Dhabi / WAM Adnoc Distribution has marked a major milestone in the opening of its 400th station on Saadiyat island, Abu Dhabi and the delivery of 25 new stations year to date in 2020. In the first half of the year, the company has experienced strong delivery despite the challenging environment, with openings across Abu Dhabi, Dubai and Fujairah. ...

RAS AL KHAIMAH / WAM A ground station that will track and communicate with a satellite built by American University of Ras Al Khaimah (Aurak) students has opened on the University’s campus. The ground station is capable of communicating with satellites in orbit by sending commands and receiving telemetry, images and science data back from them. The satellite project is ...

Bloomberg The Trump administration’s response to the allegation Russia offered bounties for killing American troops makes the US vulnerable to adversaries regardless of whether it’s true, former US National Security Advisor John Bolton says. “What it tells the Russians is that we are in disarray and ripe for this kind of provocation, not just in Afghanistan but in many, many ...