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  Bloomberg Auto workers may be getting some extra time off around Independence Day, but they won’t be celebrating. They’ll know it means sales are weak and that profits — and profit-sharing checks — could be shrinking. Manufacturers used to shut plants for a week or two in July for maintenance and to keep inventories in check. As sales boomed ...

  Bloomberg You can’t blame a homeowner in Fresno, California, for viewing the thriving metropolis to its northwest with both envy and dismay. While San Francisco home values have surged since the recession, Fresno’s housing market is stuck in a rut. Less than 3 percent of homes in the city and its environs have returned to their pre-recession peak, according ...

  Abu Dhabi / WAM The UAE pays significant attention to its indigenous heritage, following the steps of its late founding father, Sheikh Zayed bin Sultan, who instilled a passion for local heritage and national treasures among Emirati citizens. His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces ...

  Abu Dhabi / WAM UAE Minister of Foreign Affairs and International Cooperation HH Sheikh Abdullah bin Zayed Al Nahyan met He Lifeng, Chairman of the National Development and Reform Commission of the People’s Republic of China, to discuss possibilities for joint co-operation. HH Sheikh Abdullah, who is on a state visit to China, emphasised the UAE’s determination to strengthen ties ...

  Dubai / WAM The Dubai Chamber of Commerce and Industry (DCCI), announced plans to open a new representative office in Buenos Aires, Argentina, which will become the chamber’s second office in Latin America. The announcement came during a meeting between Argentina’s Vice President, Gabriela Michetti, and a high-level delegation from Dubai. The delegation visited the country as part of ...

  Abu Dhabi / Emirates Business Etihad Airways said it was disappointed that despite its significant investments in Alitalia, the Italian airline had on Tuesday entered extraordinary administration. James Hogan, President and Chief Executive Officer (CEO) of Etihad Aviation Group, said: “We have done all we could to support Alitalia, as a minority shareholder, but it is clear this business ...

  Bloomberg Truck Alliance Inc., an Uber-type service for trucks in China known as Huochebang, is near an agreement to raise about $156 million, people familiar with the matter said. The investment will be led by Baidu Capital, the investment arm of China’s largest search engine, and could be announced as soon as this week, said the people, who asked ...

  Bloomberg Ride-hailing giant Didi Chuxing is near an agreement to raise at least $5 billion in a deal that would make it the most valuable startup in China, according to people familiar with the matter. The round may close as soon as this week and would lift Didi’s valuation to about $50 billion, up from a previous $34 billion ...

  Bloomberg China’s run of solid economic indicators proved little consolation for its shaky financial markets in April. The dichotomy stems from a shift in the leadership’s focus towards reducing leverage — one that’s set to determine whether growth joins asset prices in heading down. Economists are practically unanimous in saying that reduced debt loads would be good for China’s ...

  Bloomberg JD.com Inc., Alibaba’s fiercest rival in Chinese e-commerce, is in talks to make a major investment in Indonesia’s PT Tokopedia to speed its expansion into Southeast Asia’s largest economy, people familiar with the matter said. JD is in early-stage negotiations to invest hundreds of millions of dollars in one of Indonesia’s largest online marketplaces, one of the people ...