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Bloomberg Europe’s push to scrap use of coal as a power generation fuel could make Fortum Oyj think twice before launching a bid for a full takeover of Uniper SE, one of the continent’s biggest burners of the dirtiest fossil fuel. Fortum, which owns a 49.99 percent stake in Uniper, said it had ended its long-running feud with the German ...

Bloomberg The UK cancelled a 13.8 million pound ($18 million) contract with Seaborne Freight, a startup company that doesn’t own any ships, to deliver backup ferry service in the event of a no-deal Brexit. Lawmakers had criticized the contract award. The deal was scrapped when “it became clear Seaborne would not reach its contractual requirements with the government,” the Department ...

Bloomberg Amazon.com Inc managers have weighed alternatives to locating a corporate campus in New York City after local officials opposed the plan, according to people with knowledge of the matter. Some people involved in the planning for Amazon’s East Coast expansion have discussed whether to pare back the New York plans, said the people, who asked not to be identified ...

Bloomberg The US is seeking support for a United Nations Security Council resolution condemning Venezuela’s government for blocking humanitarian aid from entering the country and calling on President Nicolas Maduro to hold new elections. The draft resolution calls for the “immediate start of a political process leading to free, fair, and credible presidential elections,” according to a copy of the ...

DUBAI / WAM The UAE called for developing legislation on the entry of global e-commerce platforms to the region’s markets and the development of local and regional electronic platforms to enhance competition and break monopolies. In an opening address at the main session of the Fourth Annual Arab Fiscal Forum organized by the IMF, Arab Monetary Fund (AMF), and the ...

DUBAI / WAM Dr Thani bin Ahmed Al Zeyoudi, Minister of Climate Change and Environment, has expressed his appreciation for the active role of local agricultural companies and national farms and their efforts in supporting and strengthening the productivity of the agricultural sector in the country. This came during Dr. Al Zeyoudi’s field tour to underline the ministry’s role in ...

Sharjah / WAM His Highness Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah and Chairman of Sharjah Executive Council, directed that an Innovation Award be launched at which he will honour the best three innovations presented by the participants as part of UAE Innovation Month in Sharjah starting next year. This was stated ...

Dubai / WAM The UAE is launching a fiscal risk management project with the IMF’s help and will produce its first fiscal stress test this year, according to Christine Lagarde, Managing Director and Chairwoman of the International Monetary Fund (IMF). Speaking at the main session of the Fourth Annual Arab Fiscal Forum organized by the IMF, Arab Monetary Fund, AMF, ...

Bloomberg The US has some “some hard work” to do with North Korea before President Donald Trump meets Kim Jong un in Vietnam later this month, according to its special envoy Stephen Biegun. Trump is “very much looking forward to taking the next steps,” according to a pool transcript of Biegun’s remarks on Saturday. The envoy on North Korea spent ...

Bloomberg Brexit is driving companies out of the UK, and the Netherlands is raking in the corporate refugees. About 250 companies are in talks with the Netherlands Foreign Investment Agency to potentially relocate activities to the country, according to a statement. The candidates would join 42 companies that made the move last year, and the 18 early birds in 2017. ...