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Bloomberg Telefonica SA may defy expectations for an outright sale of its submarine cables and bring in investors to share ownership of the business instead. The Spanish phone company has been working with advisers to gauge interest from potential buyers. It was hoping to offload the business for about 2 billion euros ($2.4 billion), according to media reports last year. ...

Dubai / WAM Etihad Credit Insurance (ECI) and African Trade Insurance Agency (ATI) have agreed to strengthen the trade relations between the UAE and Africa by providing trade finance solutions to businesses and exporters in both areas. To that end, both sides signed a Memorandum of Understanding (MoU) to boost the global competitiveness of exporters by increasing their awareness on ...

Dubai / WAM E-commerce sales in Dubai are projected to jump 23 percent to reach $27 billion in 2022, driven by the Covid19-led digital shift and changing consumer demands, which are levelling the playing field, Hamad Buamim, President and CEO of Dubai Chamber of Commerce and Industry, said during his opening remarks at The Retail Summit 2021. The forecast, based ...

RAS AL KHAIMAH / WAM The Local Emergency, Crisis and Disasters Management Team in Ras Al Khaimah announced the extension of relevant precautionary measures to April 8 to curb the spread of coronavirus (Covid-19). Major General Ali Abdullah bin Alwan Al Nuaimi, Commander-in-Chief of the Ras Al Khaimah Police and Head of the Team, said that relevant precautionary and preventive ...

DUBAI / WAM Dubai’s Roads and Transport Authority (RTA) has announced the issuance of 48,749 permits for practising passenger transport in 2020. It comprises 4,315 permits for school transport drivers, 8,999 permits for limo drivers, 25,666 permits for taxi drivers, 326 permits for heavy truck drivers, 4,461 permits for school transport assistants, and 4,082 permits for transporting passengers returning to ...

DUBAI / WAM Dubai Municipality, in collaboration with the Mohammed Bin Rashid Space Centre (MBRSC), has announced that it is preparing to launch the DMSat-1 satellite, the region’s first environmental nanometric satellite, on March 20. The launch is part of a high-technology project undertaken to develop solutions to environmental challenges and address climate change. The satellite will be launched from ...

Bloomberg The US accepted a troop-funding increase from South Korea significantly less than demanded by the Trump administration, underscoring President Joe Biden’s efforts to ease tensions with a key ally often criticised by his predecessor. South Korea agreed to pay 1.18 trillion won ($1.04 billion) to the US for security this year, about a 14% increase from 2019, the Foreign ...

Bloomberg Officials at the International Monetary Fund (IMF) see some benefit in delaying a $45 billion agreement with Argentina after the nation’s midterm election in October, with talks yielding little progress six months after they began, according to people familiar with the situation. While IMF negotiators prefer to hash out a deal with Argentina as soon as possible, some see ...

Bloomberg Investors rushed back into Tesla Inc. shares, putting a screeching halt to a five-day slump, and pushing the stock to its biggest gain in more than a year. A steady stream of positive news — including an upgrade from a Wall Street analyst, a rally in the cryptocurrency Bitcoin and a broader turn in sentiment toward high-multiple technology stocks ...

Bloomberg As the House is poised to send the $1.9 trillion Covid-19 relief plan to President Joe Biden for his signature, providing an economic boost that will last long after $1,400 stimulus checks start arriving in Americans’ accounts this month, the US economic outlook is much sunnier than it looked in early January. The latest Bloomberg monthly survey of economists ...