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Bloomberg Presidents Emmanuel Macron and Donald Trump agreed to a truce in their dispute over digital taxes that will mean neither France nor the US will impose punitive tariffs this year. Macron said he had a “great discussion” with Trump on the issue, without giving details.“We will work together on a good agreement to avoid tariff escalation,” he said on ...

Bloomberg The European Union (EU) got a boost in its crackdown on tax breaks for Spanish companies buying stakes in foreign firms after EU judges said a challenge involving Banco Santander SA was inadmissible. The EU Court of Justice rejected a Spanish tax tribunal’s request for guidance on the validity of European Commission decisions that found those tax breaks violated ...

Bloomberg Alphabet Inc’s chief executive officer urged the US and European Union to coordinate regulatory approaches on artificial intelligence, calling their alignment “critical.” In a rare public speech in Brussels at an event hosted by European economic think tank Bruegel, Sundar Pichai, who is also CEO of Google, said “there is no question in my mind that artificial intelligence needs ...

Dubai / WAM Following directives from His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai, HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, has approved the new salary scheme for employees of the Government of Dubai. The new scheme, effective from ...

SHARJAH / WAM HH Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, on Monday inaugurated the Buhais Geology Park, a pioneering project in the field of ecotourism aimed at introducing visitors to the history of Sharjah’s geology, and the geological importance of Jebel Buhais and the archaeological areas surrounding it. HH Sheikh Sultan bin ...

ABU DHABI / WAM The value of credit facilities provided by banks in Abu Dhabi and Dubai to the business and industrial sectors during the first 11 months of 2019 amounted to AED8.5 billion, or 60.3 percent of the total credit facilities provided to these sectors throughout the country, totalling AED14.1 billion. Statistics issued by the Central Bank of the ...

DUBAI / WAM DMCC – the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise –announced an up to 30 percent discount rate on licence fees for companies with membership of the UN Global Compact. The UN Global Compact is the world’s largest voluntary sustainability initiative that encourages businesses worldwide to adopt sustainable and socially ...

Bloomberg Iran will withdraw from a major non-proliferation treaty (NPT) if European nations attempt to refer the Islamic Republic to the UN Security Council over its infringements of the 2015 nuclear deal, the country’s foreign minister said. The UK, France and Germany said last week they would trigger the accord’s dispute resolution mechanism, which could eventually mean the matter being ...

Bloomberg India needs a bigger bond market now more than ever, to help get funds to cash-strapped companies cut off from their shadow lenders by a crisis in that sector. But a Bloomberg survey shows that sales of local rupee corporate notes will grow only 2% this year, a similar rate to 2019 that’s historically low. India’s corporate bond market ...

Bloomberg Samsung Electronics Co has appointed Taemoon Roh the head of its smartphone division, tasking a veteran executive with oversight of the world’s largest mobile devices business. Roh, who was formerly the unit’s No. 2 executive, was expected to take over the top job from Koh Dong-Jin from from Monday. Koh remains head of the Korean conglomerate’s IT and mobile ...