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Bloomberg The UK economy lost momentum in the three months through October, a further sign of the toll being taken by Brexit uncertainty. Growth slowed to 0.4 percent from 0.6 percent in the third quarter, the Office for National Statistics said on Monday. In October alone, growth was just 0.1 percent, with the economy being spared a third month of ...

Bloomberg Elon Musk, the chief executive officer of both Tesla Inc and Space Exploration Technologies Corp, opened up about his tumultuous year in a wide-ranging interview with CBS’s “60 Minutes.” Musk, 47, told anchor Lesley Stahl that none of his tweets have been censored since he reached a settlement with the US Securities and Exchange Commission in October. His problematic ...

Bloomberg UK Prime Minister Theresa May is calling off a crucial vote in Parliament on whether to approve her Brexit deal, according to a person familiar with the situation. The vote in the House of Commons to endorse the terms of the UK’s split from the European Union was due to be held on Tuesday evening but is now set ...

RIYADH / WAM The 39th session of the GCC Summit was held on Sunday in Riyadh under the chairmanship of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud with the participation of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, who headed the ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc), announced on Sunday, the four percent stake in its onshore concession, previously held by CEFC China Energy Company Limited (CEFC China), has been acquired by North Petroleum International Company Ltd, a subsidiary of China ZhenHua Oil Co. Ltd. The ownership change has been approved by Abu Dhabi’s Supreme Petroleum ...

VIENNA / WAM Abu Dhabi has officially been selected to host the 2019 United Nations Industrial Development Organisation (UNIDO), General Conference, the organisation’s supreme policy-making organ which convenes every two years. The announcement was made following a vote by the 53 member states of the Industrial Development Board (IDB) at their 46th annual meeting in Vienna where they convened to ...

Sharjah / WAM The Emirate of Sharjah has announced a budget with total expenses of AED25.7 billion for 2019, marking a 10 percent growth in comparison to its 2018 budget. His Highness Dr Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, approved the spending for 2019, which will see an increase in spending on public ...

Dubai / WAM Dubai remains on track to becoming the most visited city for global travel, business and events, according to the latest visitation figures released by Dubai’s Department of Tourism & Commerce Marketing (Dubai Tourism). The emirate welcomed 11.58 million visitors in the first three quarters of 2018, with India retaining its position as Dubai’s leading source market, followed ...

Bloomberg HCL Technologies Ltd., founded by Indian billionaire Shiv Nadar’s family, was the worst performer among the nation’s top 50 companies after the software maker said it was buying some of International Business Machines Corp.’s software assets for $1.8 billion. The shares slid 5 percent to 961.95 rupees at the close in Mumbai on a day when the S&P BSE ...

Bloomberg The revival of Pininfarina SpA, the iconic coach-builder famous for designing Ferrari sports cars, is ahead of schedule, though the turnaround is an “unfinished story,” said Anand Mahindra, chairman of the group that bought the Italian company three years ago. Pininfarina, founded in 1930 by Battista “Pinin” Farina, is boosting profit and winning orders for clients inside and outside ...