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DUBAI / WAM Nasdaq Dubai on Tuesday announced the names of 12 Saudi Arabian companies on which the exchange will launch equity futures in September. The 12 companies are some of the Middle East’s largest businesses, active in sectors from real estate and petrochemicals to banking and transport. Their combined market capitalisation is SR859 billion ($229 billion), representing 43 percent ...

Bloomberg Zimbabwe’s main opposition party said it was well ahead in the first election of the post- Robert Mugabe era and it’s ready to form the next government, as unofficial results began streaming in. With official tallies set to start being announced on Tuesday afternoon, the focus now shifts to whether the vote was credible and the results are accepted, ...

Bloomberg BMW AG is building its first factory in Europe in nearly two decades, strengthening its footprint close to home as growing protectionism adds to the cost of shipping cars around the globe. The carmaker is investing $1.17 billion in a new production plant in Hungary to produce 150,000 vehicles annually, according to a statement. It’ll be BMW’s first new ...

Bloomberg A bumper day of euro-area economic releases showed the region’s vital signs remain good, if not great. The region’s economic expansion entered a sixth year but growth slowed to just 0.3 percent, the weakest in two years. Inflation accelerated further above the European Central Bank’s goal, though that was largely driven by stronger energy prices. Unemployment remained at the ...

Bloomberg Thomas Cook Group Plc said unusually hot weather is making its north European customers far less enthusiastic about booking last-minute beach holidays, weighing on the tour operator’s earnings. Summer bookings for the UK company’s package breaks were unchanged from last year through July 21, compared to a 3 percent gain through May, according to a statement on Tuesday, indicating ...

Bloomberg Honda Motor Co. joined the list of carmakers projecting challenges for the global auto industry hit by a trade war — though a weaker yen is helping the Japanese brand weather some of the storm. The Japanese company lowered its revenue forecast for the fiscal year as it shaved 75,000 vehicles off its sales projection for North America, citing ...

Bloomberg Starbucks Corp. will be joining forces with Alibaba Group Holding Ltd. to begin delivering its drinks and baked goods in China, according to people with knowledge of the plans, rolling out an effort to stave off competitors and turn around sales in the country. Ele.me, the meals delivery service owned by Alibaba, will handle the logistics in a deal ...

Dubai / WAM The Dubai International Financial Centre (DIFC) Courts have partnered with Smart Dubai to create the world’s first Court of the Blockchain. Building on existing dispute resolution services, the alliance will initially explore how to aid verification of court judgments for cross-border enforcement. The partnership is the first step in creating a blockchain-powered future for the judiciary which ...

ABU DHABI / WAM The General Authority for Regulating the Telecommunications Sector (TRA), organised a staff security awareness lecture entitled, “We Are All Partners in Our Nation’s Security,” to strengthen the strategic partnership and create security and national awareness among segments of society. The lecture, held in cooperation with Al Ameen Service, detailed the importance of involving citizens and residents ...

Dubai / WAM Expo 2020 Dubai signed an agreement with the China-Arab International Cooperation Committee (CAICC), to promote the global destination in the most populous country. Based in Shanghai, the CAICC is a government-backed, non-profit organisation that supports China’s “One Belt, One Road” initiative by stimulating and facilitating business cooperation and cultural communication between China and Arab nations. Under the ...