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Bloomberg Chinese billionaire Li Shufu’s Geely Group structured the purchase of its 7.3 billion-euro ($9 billion) stake in Daimler AG through complex derivative transactions that allowed the buyer to build a large equity holding while limiting the risks, people with knowledge of the matter said. Geely entered into a so-called collar trade for the entire stake, making this the largest ...

Bloomberg A US-based cancer detection startup backed by the world’s two richest men is planning an initial public offering in Hong Kong, people with knowledge of the matter said, bolstering the Asian financial centre’s push to start attracting biotech listings. Grail Inc. is working with advisers on the proposed share sale, the people said, The firm may seek to raise ...

Bloomberg Prime Minister Theresa May is preparing to reject the European Union’s draft Brexit deal when it’s published, a senior official said, as her government steps up its fight with the bloc over the terms of Britain’s departure. With just three weeks left to agree on the Brexit transition phase, the EU will unveil a legal text that’s likely to ...

Bloomberg Accor SA plans to buy back as much as 1.35 billion euros ($1.65 billion) of shares over the next two years after the hotel operator agreed to sell a majority stake in its property business. Saudi Arabia’s Public Investment Fund, Singapore’s GIC Pte sovereign-wealth fund, Credit Agricole Assurances, Amundi SA, Colony NorthStar Inc. and other investors joined forces to ...

Bloomberg Puerto Rico faces a “dangerous financial dilemma” because of the US Treasury Department’s delay in providing billions of dollars of disaster relief needed to help it recover from the wreckage caused by Hurricane Maria, the island’s governor said in a letter to Senate and House leaders. Treasury’s “misguided delay and policy decisions contrary to Congressional intent” for the community ...

Bloomberg As Washington and Seoul try to maintain a unified front against North Korea, the case of two cargo ships shows how Kim Jong Un’s regime keeps finding ways to evade increasingly tough international sanctions aimed at halting its nuclear weapons program. Both vessels have gone through repeated changes of names and owners, part of an international shell game that ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, visited the Global Education Supplies and Solutions Exhibition (GESS) on Tuesday. The three-day event is being organised by the Ministry of Education in co-operation for the 11th consecutive year in the Dubai World Trade Centre. His Highness Sheikh Mohammed ...

Abu Dhabi / Emirates Business Major Pilot Saeed Mohammed Al Yamahi, the Official Spokesperson of Unmanned System Exhibition (UMEX) 2018 and Simulation & Training Conference and Exhibition (SimTEX) 2018 announced at a press conference that 10 defence deals worth AED294.225 million were signed on the third day of the dual event, taking the total value of deals signed to AED ...

Abu Dhabi / WAM The Abu Dhabi National Oil Company (ADNOC), is making smarter use of capital to fund an ambitious growth plans and accelerate delivery on the goals of its 2030 strategy, according to Dr Sultan bin Ahmad Sultan Al Jaber, Minister of State and ADNOC Group CEO. Speaking, in Abu Dhabi, at the Global Financial Markets Forum on ...

DUBAI / WAM Passenger traffic at Dubai International (DXB), exceeded 7.9 million in January, according to the traffic report issued by operator Dubai Airports on Tuesday. DXB welcomed a total of 7,960,146 passengers in January, a small reduction of 1% compared to 8,037,008 recorded in January 2017 when passenger volumes were boosted due to Chinese New Year which fell in ...