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ABU DHABI / WAM Abu Dhabi Global Market (ADGM) announced the launch of the new commercial license for ADGM tech start-ups for entrepreneurs. The start-up license is sector-agnostic and enables entrepreneurs to obtain an ADGM operational license, taking advantage of the same globally recognised international operating standards that current ADGM funds, multinationals, SMEs, advisers and other registered entities benefit from. ...

Bloomberg Ford Motor Co. is canceling plans to import a new crossover model from a plant in China after President Donald Trump’s tariffs undermined the business case for bringing the vehicle to the US market. Trump’s move to slap China-built autos with an additional 25 percent levy in July undermined the profitability of the Focus Active that Ford planned to ...

Bloomberg The European Union should scrap twice-yearly time changes and keep its clocks on what is currently summertime, said the bloc’s executive arm. On August 31, the European Commission unveiled the results of a public consultation on the merits of the decades-old practice of capitalising on natural daylight by putting clocks forward by 60 minutes between late March and late ...

Bloomberg Salesforce.com Inc. shares fell after the maker of cloud-based software gave a disappointing profit forecast and reported a closely watched sales metric that failed to satisfy Wall Street’s lofty expectations. Profit, excluding certain items, will be as much as 50 cents a share in the current quarter, the San Francisco-based company said. That compared with analysts’ average estimate of ...

Bloomberg Nearly 700,000 undocumented immigrants brought to the US as children won another ruling preserving their protection from deportation, though the Texas judge who sided with them cast serious doubt on the legality of the so-called Dreamer programme. US District Judge Andrew Hanen in the border town of Brownsville ruled that Texas Attorney General Ken Paxton waited too long to ...

Bloomberg HNA Group Co.’s debt, one of the highest among Chinese companies, declined for the first time after the embattled conglomerate reversed a multi-year acquisition spree by selling off dozens of assets to stay in business. Total debt fell 9.5 percent to 541.6 billion yuan ($79 billion) at the end of June, down about $8.3 billion from the record high ...

Bloomberg South Korea’s export growth accelerated in August at the fastest pace in three months, easing concerns that the trade fight between China and the US will sap momentum in Asia’s fourth-largest economy. Exports rose 8.7 percent from a year earlier, the trade ministry said in a statement on Saturday. That compared with a 10.2 percent gain forecast by economists ...

DUBAI / Emirates Business Overall online spending continues to grow in the UAE, and is forecast to reach AED36 billion by the end of 2018, according to a joint report issued by PayPal and Ipsos on Wednesday. The fourth annual cross-border commerce report, which tracks online domestic and cross-border shopping habits of approximately 34,000 consumers in 31 countries, also revealed ...

ABU DHABI / WAM Abu Dhabi National Exhibitions Company (Adnec) on Wednesday announced that it is primed to host a very busy events season with its venues fully occupied till the end of this year by more than 50 major local and international exhibitions and conferences across key sectors including culture, healthcare, leisure, lifestyle, and business. Humaid Matar Al Dhaheri, ...

DUBAI / WAM The Dubai Financial Services Authority (DFSA) and the Monetary Authority of Singapore (MAS) on Wednesday entered into an agreement that provides a framework for cooperation and referrals between the innovation teams of each authority. The agreement reflects the commitment of both authorities to develop an environment that supports the sustainable development of financial services through emerging technology. ...