Bloomberg EBay Inc. agreed to sell its online classifieds business to Norway’s Adevinta ASA for $9.2 billion, ending one of the largest auctions of the year. Under the deal, EBay will get $2.5 billion of cash and 540 million shares in the Norwegian firm, the companies said in a statement on Tuesday. Shares in Adevinta rose as much as 39%. ...
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Bloomberg Sales of Renault SA’s all-electric Zoe car jumped 38% in the first half, a rare bright spot amid the grim fallout of the coronavirus pandemic Most of the deliveries were made in Europe, where the Zoe became the best-selling electric car thanks in part to generous government incentives, the French automaker said in a statement. Renault’s overall sales in ...
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Bloomberg Argentina’s three largest creditor groups joined forces to submit a new bond restructuring proposal that would provide the country more than $35 billion in debt relief over the next nine years. The Ad Hoc group, the Exchange Bondholder group and the Argentina Creditor Committee, which represent investors including BlackRock Inc. and Ashmore Group PLC, said that they had agreed ...
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ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan has said that the launch of the ‘Hope Probe’ on its historic journey to Mars under the slogan of “Nothing is impossible” constitutes a national and Arab achievement and an advanced Emirati push in the process of building global knowledge in space. In his speech on the ...
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Abu Dhabi / WAM The Abu Dhabi Business Centre of the Abu Dhabi Department of Economic Development (Added) is set to launch the ‘Economic Establishments Data Capturing Project’ which is an integrated database that will provide essential information to help investors evaluate developments in the business sector in Abu Dhabi. The data will also be used in the preparation of ...
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ABU DHABI / WAM The UAE’s Mars Mission, Hope Probe, will write a glorious chapter in the Arab history of space exploration, and enhance the UAE’s contributions to the global space endeavours, a top Chinese diplomat told Emirates News Agency (WAM) on Monday. “Being the first Arab state to embark on Mars mission demonstrates the UAE’s significant progress in space ...
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Dubai / WAM The Dubai Chamber of Commerce and Industry announced the launch of a task force under its Sustainability Network, which will address the issue of late payments to subcontractors and suppliers. The Task Force on Prompt Payment Practices for Subcontractors and Suppliers, joined by member companies representing a wide variety of economic sectors will explore the root causes ...
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Bloomberg The European Union’s most coal-reliant country has a controversial new strategy for its 400 billion-euro ($456 billion) green push: bulk up the Polish state oil company and let it lead the transformation. Poland announced plans to build an energy champion with the financial heft to drive the overhaul by combining refiner PKN Orlen SA and gas group PGNiG SA. ...
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Bloomberg The UK is about to test the risks of a wider confrontation with China that’s been a long time coming. The next act is playing out when Foreign Secretary Dominic Raab addresses Parliament. The top diplomat has dropped a heavy hint the UK will suspend its extradition treaty with Hong Kong, a former colony it handed back to China ...
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Abu Dhabi / WAM The Abu Dhabi National Energy Company (Taqa) announced on Sunday that its subsidiary, Abu Dhabi Distribution Company (ADDC) awarded projects worth up to AED 900 million ($245.03 million) to expand the company’s recycled water distribution programme. “The two new projects will upon completion have a combined capacity to transmit approximately 85 million imperial gallons per day (MIGD) of ...
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