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Bloomberg China’s massive build programme to recreate trade routes stretching from Asia to Africa and Europe is gaining momentum. Since President Xi Jinping’s flagship Belt and Road project was announced about five years ago, it gave impetus to billions of dollars of Chinese investment — some of which were already in the pipeline for several years — to build railways, ...

Bloomberg Chinese President Xi Jinping reiterated pledges to open sectors from banking to auto manufacturing in a speech that also warned against returning to a “Cold War mentality” amid trade disputes with US counterpart Donald Trump. Xi pledged a “new phase of opening up” in his keynote address on Tuesday to the Boao Forum for Asia, China’s answer to Davos. ...

Bloomberg With the federal budget deficit expanding and congressional elections seven months away, the Trump administration plans to ask Congress for cuts in domestic programs that were part of a bipartisan $1.3 trillion spending bill that President Donald Trump signed last month. The White House doesn’t want to touch extra funding for the military, border security and combating the opioids ...

LONDON / Reuters SAP is revising how it prices its core business planning software after a legal crackdown against high-profile customers Diageo and AB InBev caused a backlash with its wider customer base, who feared they might be hit by hidden, indirect charges. The German company said on Tuesday it will offer a new model for sales, licence audits and ...

Bloomberg Telecom Italia SpA’s board said it will take every legal action necessary to block activist investor Elliott Management Corp. from pushing ahead with its own slate of directors at the company’s next shareholder meeting. Elliott, Telecom Italia’s second-biggest shareholder after Vivendi SA, wants to replace six Vivendi-backed directors at Italy’s former phone monopoly with its own candidates at the ...

Bloomberg President Donald Trump said the US will respond “forcefully” to a suspected chemical weapons attack by Syrian President Bashar al-Assad’s regime over the weekend, after suggesting earlier that Russian President Vladimir Putin may share responsibility. “We’re making a decision on what we do in respect to the horrible attack that was made near Damascus and it will be met ...

Dubai / Emirates Business The highly-anticipated 14th edition of the International Property Show (IPS), the Middle East’s biggest property sales platform for local, regional and international real estate markets, kicked off on Monday and will run until April 11 at the Dubai International Convention and Exhibition Centre (DICEC). The improved IPS 2018 programme was developed in partnership with Dubai Land ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, accompanied by HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, on Monday visited the Dubai International Government Achievements Exhibition (DIGAE). The exhibition is organised by ...

Sharjah / WAM Rexton Technologies, the world leader in the design and manufacture of LED light bulbs, launched the largest LED light manufacturing facility in the Middle East and North Africa region on Monday at the Sharjah Airport International Free Zone. Rexton Technologies developed the new facility with a total investment of over AED50 million. Rexton Technologies is an industrial ...

Abu Dhabi / WAM Adnoc Drilling, an Abu Dhabi National Oil Company, ADNOC, subsidiary, on Monday celebrated the graduation of 333 Emiratis from its Drilling Training Centre. Today’s graduates are the latest batch to have completed their training at the state-of-the-art centre. They will play a key role in ensuring efficient, reliable and safe onshore and offshore well-drilling operations. The ...