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Abu Dhabi / WAM The Abu Dhabi Government has repaid its sovereign bonds on 8th April 2019, according to an announcement by the Department of Finance – Abu Dhabi. The bonds were issued by Abu Dhabi Government in 2009 in two tranches of $1.5 billion each, with a total value of $3 billion. The first tranche with a value of ...

Beijing / WAM Mansour Ibrahim Al Mansouri, Director-General of the National Media Council (NMC), officially opened the UAE Pavilion at the Expo 2019 Beijing, taking place in the Chinese capital from April 29 to October 7. Managed and supervised by the NMC, the Pavilion bears the theme ‘Greening the Desert’. This participation, which is the UAE’s first at the Expo’s ...

Bloomberg Anadarko Petroleum Corp, the oil producer at the center of a bidding war, posted adjusted earnings for the first quarter that beat analysts’ estimates as oil and gas sales rose versus last year. The Texas-based driller said it earned 53 cents a share, excluding one-time items that included a $316 million loss attributed to the settlement of commodity derivatives. ...

Bloomberg Spanish PM Pedro Sanchez is looking to keep his options open as he prepares for talks with potential allies over his next government. And that includes Ciudadanos, the center-right party that spent the last few months saying that he must be kicked out of office. Spainish election delivered a clear victory to Sanchez’s Socialist party, but no straightforward route ...

DUBAI / WAM The UAE Government, in cooperation with the World Economic Forum (WEF), inaugurated on Sunday the Centre for Fourth Industrial Revolution in the UAE at AREA 2071, Emirates Towers in Dubai, to be the first of its kind in the region and the fifth globally. In line with the rapid global changes and developments of the Fourth Industrial Revolution, ...

Abu Dhabi / WAM Abu Dhabi Fund for Development (ADFD), has announced its plan to deposit $250 million into the Central Bank of Sudan (CBOS), to secure increased liquidity and strengthen the financial position of Sudan. The deposit falls within the framework of the newly announced $3 billion (AED11 billion) UAE-Saudi Arabia joint aid package for Sudan that has committed $500 ...

Bloomberg Barely three months into his tenure, Renault SA Chairman Jean-Dominique Senard plans to propose merging the French carmaker with alliance partner Nissan Motor Co under a holding-company framework, according to people familiar with the matter. Each company would own about a 50 percent stake in the holding company and have equal board representation, one of the people said, asking ...

Bloomberg Three months after groundbreaking, Tesla Inc is rushing to complete its multibillion-dollar factory on the outskirts of Shanghai to capitalise on growing demand in the world’s largest electric-car market. Foundations for the facility have been laid, and construction workers are erecting walls and other structures for the factory, which could eventually rival production from its US assembly plant. Tesla ...

Bloomberg Microsoft Corp.’s cloud computing business fuelled quarterly sales and profit that topped analysts’ estimates, boosted by several new deals with large corporate clients. The company’s shares rose as much as 5.1 percent in New York, briefly pushing its valuation across $1 trillion before pulling back slightly. The move nosed the software maker ahead of Apple Inc. as the world’s ...

Bloomberg Daimler AG said its financial targets have become harder to achieve after a tough start to the year, forcing the auto manufacturer to step up efforts to drive down costs. The Mercedes-Benz maker’s first-quarter profit slumped 16 percent after a decline in deliveries combined with the rising cost of developing new models. While earnings met analyst estimates, Chief Executive ...