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Bloomberg Baidu Inc. has raised more than $1.9 billion for its newly spun-off financial services division from TPG, Carlyle Group and other investors, creating one of China’s best-funded fintech companies. Taikang Group and other backers also joined the funding round for the newly formed company, which will be called “Du Xiaoman Financial” and use artificial intelligence to provide short-term loans ...

Bloomberg The Great Barrier Reef is being $379 million boost by Australia in the battle to save the world’s largest living structure as it faces mounting challenges such as climate change, agricultural runoff and a coraleating starfish. “Like reefs all over the world, the Great Barrier Reef is under pressure,” Prime Minister Malcolm Turnbull said in a statement on Sunday, ...

Bloomberg Pipeline owners led by Enbridge Inc. and Williams Cos. could be forced to refund as much as $18.5 billion to drillers, utilities and even United Airlines Inc. for upfront payments they charged customers before new US tax rules cut the corporate rate. Natural gas conduits include the cost of future tax payments in customer fees. Because the Trump administration ...

Bloomberg Roche Holding AG’s bet on fields outside its mainstay market of cancer is starting to pay off as the Swiss drugmaker boosted its forecast for this year. New medicines such as Ocrevus for multiple sclerosis and Hemlibra for hemophilia are driving the increase, the company said in a statement. The world’s biggest maker of cancer treatments also reported sales ...

Bloomberg Ford Motor Co. is sharpening its knives to cleave another $11.5 billion from spending plans and cut several sedans, including the Fusion and Taurus, from its lineup to more quickly reach an elusive profit target. The automaker expects to save $25.5 billion by 2022, Chief Financial Officer Bob Shanks told reporters as Ford reported first-quarter earnings per share and ...

Bloomberg North Korea leader Kim Jong-un has promised to close his main nuclear weapons test site in May and said he will invite South Korean and American media to witness the shutdown. Ahead of an historic meeting with US President Donald Trump expected within the next three to four weeks, Kim told South Korea’s president that two tunnels at the ...

ABU DHABI / WAM The number of hotel guests staying in the emirate’s 163 hotels and hotel apartments in March reached 464,960, representing an increase of 12.3 percent compared to the same month last year, according to figures released by the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi). The total number of hotel guests in the ...

DUBAI / WAM Expo 2020 Dubai has become the first World Expo and the second ever ‘mega-event’ to secure a Procurement Excellence award from the highly respected Chartered Institute of Procurement and Supply (CIPS) organisation, a major vote of confidence for the next World Expo’s procurement practices. The recognition makes Expo 2020 the first major global event outside the United ...

Abu Dhabi / WAM The United Arab Emirates and Japan are bound by time – honoured, deeply-rooted relations that have been in a steady growth over the past 46 years thanks to the determination of both countries’ leadership to sustain cooperation across all domains. The visit of Japanese Prime Minister Shinzo Abe to the UAE on April 29-30 comes to ...

Dubai / WAM Economic conditions in Dubai during Q1 2018 have improved over Q1 and Q4, 2017, according to a business confidence survey conducted by the Department of Economic Development (DED), Dubai. The survey indicates that the Composite Business Confidence Index has improved by 5.5 points after registering 116.7 points in Q1 2018 as compared to 111.2 points during the ...