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Bloomberg Ford Motor Co. is changing gears again in Mexico, shifting planned production of a small electric-powered sport utility vehicle to a plant south of the border instead of a Michigan factory. Sending the electric vehicle to Mexico, where labour costs are lower, will help the business case for the costly model. It also risks raising the ire of President ...

Bloomberg Alibaba Group Holding Ltd., China’s e-commerce giant, plans to invest about $200 million in India’s largest online supermarket, Bigbasket, leading a $280 million funding round in the startup, according to people familiar with the negotiations. Alibaba is taking a stake of about 25 percent in Bigbasket after months of negotiations, said the people, asking not to be identified because ...

Bloomberg Vijay Mallya is becoming something of a fixture in London courts. As the tycoon fights his extradition back to India on fraud charges, another set of lawyers is trying to overturn a $1.5 billion worldwide freezing order against him across town. In the meantime, Mallya has to get by on 5,000 pounds a week, according to court documents. A ...

Bloomberg Israeli fighter jets struck Hamas targets in the Gaza Strip, killing at least two people, in response to rockets fired by Palestinian protesters into Israel. The clashes came as Muslims took to the streets from the West Bank to Jakarta to protest US President Donald Trump’s move to recognise contested Jerusalem as Israel’s capital. Violence associated with the “Day ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, launched the UAE’s first Astronaut programme dedicated to selecting and training four Emirati Astronauts on various space missions so they can head to the International Space Station within the next five years. His Highness said, “On this day, a ...

Dubai / WAM HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, announced on Wednesday the launch of the ‘Day for Dubai’ initiative. The initiative aims to both solidify social responsibility amongst its citizens, and reinforce the spirit of volunteerism. It encourages every resident to share the gift of their ...

Dubai / Emirates Business His Highness Sheikh Ahmed bin Saeed Al Maktoum, President of the Dubai Civil Aviation Authority, Chairman and Chief Executive, Emirates Airline and Group, inaugurated the 7th Arab Aviation Summit held on Wednesday at the Roda Al Bustan Hotel in Dubai. Themed “Time to Transform: Addressing sustainability challenges and opportunities for the regional aviation sector”, the summit ...

ABU DHABI / WAM The United Arab Emirates and the United States of America on Wednesday reaffirmed their shared commitment to a strong bilateral relationship. The commitment was made during the UAE-US Strategic Energy Dialogue held at the UAE’s Ministry of Energy in Abu Dhabi. Confirming the agreement, Suhail bin Mohammed Faraj Faris Al Mazrouei, the UAE Minister of Energy ...

Bloomberg The US would be ready to talk with North Korea if it renounced further nuclear or missile tests and followed through on the pledge, US Ambassador to China Terry Branstad said. “If they announce that they’re not going to be doing any more nuclear tests and they’re not going to be launching any more missiles,” Branstad told Bloomberg Television ...

Bloomberg A seven-year-old US startup is set to become the biggest private tenant in London just as the UK’s economic outlook worsens. Three years after entering the British capital, WeWork Cos. has signed leases that will make it the city’s No 1 private-sector user of office space, according to data compiled by CoStar Group Inc. for Bloomberg. The rapid growth ...