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Riyadh / Emirates Business Enoc Group, a wholly-owned entity of the Government of Dubai, has announced ambitious expansion plans for its retail operations in the Kingdom of Saudi Arabia. The Group’s retail arm will increase its service station network by more than eight fold by 2030 to reach 124 stations to meet the growing fuel station demand in the GCC’s ...

Dubai / WAM Dubai Customs has launched ‘Smart Vessel Berthing System’, a new disruptive berthing service for the vessels using the Dubai Creek (Khor Dubai). The vessels will load and unload their goods with the help of an advanced AI based service, built in-house by Dubai Customs employees to facilitate traffic of vessels through the historic waterway. The launch ceremony ...

Bloomberg China is strong enough to withstand the effects of the trade war with the US, according to statements over the weekend from current and former officials, putting forward a confident view of an economy which has been showing signs of weakness in the past few months. A top financial regulatory official and a vice information technology minister said the ...

Bloomberg One of Tencent Holdings Ltd.’s most valuable investments is sinking as China expands its crackdown on online content. China Literature Ltd, in which Tencent holds a controlling stake, tumbled as much as 10 percent before closing down 7.3 percent at a new low in Hong Kong, as another of its online sites was targeted for alleged violations. The stock ...

Bloomberg Fiat Chrysler Automobiles NV proposed a merger with Renault SA to create the world’s third-biggest carmaker as manufacturers scramble for scale to tackle an expensive shift to electrification and autonomous driving. The transaction would be structured as a 50-50 ownership through a Dutch holding company, Fiat said on Monday. Renault shareholders, including the French government, would get an implied ...

Bloomberg AP Moller-Maersk A/S, the world’s largest container line, said it had a good start to the year but warned that “considerable uncertainties” stemming from global trade tensions will probably hurt its business. “New tariffs can potentially reduce expected growth in global container volumes by up to 1 percentage point,” the Copenhagen-based company said. Maersk, which also unveiled plans to ...

Bloomberg Sweden’s unemployment rate fell to a 14-month low in April, providing surprisingly favourable data for the central bank as it seeks to increase interest rates amid slowing economic growth. The seasonally adjusted rate came in at 5.9 percent, down from a 17-month high of 6.7 percent in March. Economists polled by Bloomberg had expected a rate of 6.5 percent. ...

Bloomberg President Donald Trump said he wasn’t bothered by recent North Korean ballistic missile tests his national security adviser labeled a violation of UN resolutions, adding that sanctions on the country give him time to reach a disarmament deal with Kim Jong-un. Trump said he believes the North Korean leader wants to build up his country’s economy, and that giving ...

Abu Dhabi / WAM The UAE has pledged $10 million to support ending of sexual and gender-based violence. This came when a UAE delegation led by Zaki Nusseibeh, Minister of State, co-hosted the “International Conference on Ending Sexual and Gender-based Violence in Humanitarian Crises” which was held in Oslo, Norway. In his opening address, Zaki Nusseibeh emphasised “that the empowerment ...

DUBAI / WAM Husin Bagis, Indonesian Ambassador to the UAE, accompanied by Ridwan Hassan, Consul-General of the Republic of Indonesia in Dubai, on Sunday rang the Nasdaq Dubai market-opening bell to celebrate the listing of two green Sukuk issued by the government of Indonesia, with a total value of $2 billion. Indonesia intends to use the capital raised by the ...