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Bloomberg China’s new plan to slash import taxes on a wide range of consumer goods promises to boost the prospects of multinationals in the Chinese market, with everything from the likes of Procter & Gamble Co.’s diapers to other items becoming more affordable to local consumers. Tariffs for 187 product categories will drop from an average 17.3 percent to 7.7 ...

Bloomberg A high-stakes legal clash is unfolding over President Trump’s temporary pick to run Elizabeth Warren’s favourite bank regulator, and the White House is holding its ground. Trump said he’s naming White House budget director Mick Mulvaney to be the temporary head of the Consumer Financial Protection Bureau (CFPB). The announcement came hours after outgoing CFPB Director Richard Cordray said ...

Bloomberg Elon Musk knows how to make promises. Even by his own standards, the promises made while introducing two new Tesla vehicles—the heavy-duty Semi Truck and the speedy Roadster—are monuments of envelope pushing. To deliver, according to close observers of battery technology, Tesla would have to far exceed what is currently thought possible. Take the Tesla Semi: Musk vowed it ...

Bloomberg The UK is close to running out of time in its divorce negotiations with the European Union and would be set back by missing a December deadline to resolve several thorny issues, Scottish Conservative Party leader Ruth Davidson said. Failing to resolve issues such as the status of the Irish border and the payment from the UK would further ...

Sydney / WAM The UAE and Australia have affirmed their commitment to the free trade agreement between Australia and the GCC, being an efficient mechanism conducive to broadening economic ties. This came during the maiden session of the joint UAE- Australia Economic Committee, which convened in Sydney under the chairmanship of Sultan bin Saeed Al Mansouri, Minister of Economy, and ...

Abu Dhabi / WAM A number of ministers and senior space and science officials from the UAE have visited Washington D.C., to meet with senior space officials and representatives from the public and private sector in the United States, further strengthening UAE-US collaborative efforts in space science, education and exploration. Led by Dr. Ahmad Belhoul Al Falasi, Minister of State ...

Abu Dhabi / Emirates Business Abu Dhabi accelerated its growth in hotel guest arrivals during October with 418,883 guests checking into the emirate’s 163 hotels and hotel apartments, representing an 18% increase over the same month last year. The cumulative number of guest arrivals for the first ten months of this year has increased to reach more than 3.9 million, ...

DUBAI / Emirates Business Better Life, one of the leading home appliance retailers in the UAE and a division of the Easa Saleh Al Gurg Group LLC announced the launch of an ambitious new retail strategy focused on kitchen appliances to offer a wide variety of options to consumers that meet the requirements of contemporary UAE lifestyles. The strategy aims ...

Bloomberg South Korean conglomerate Lotte Group and French carmaker PSA Group have separately discussed proposals to invest as much as $6 billion combined in India, a move that would boost Prime Minister Narendra Modi’s attempts to attract foreign capital in Asia’s third-largest economy, a person with direct knowledge of the matter said. Lotte may invest between $3 billion and $5 ...

Bloomberg LexinFintech Holdings Ltd., owner of Chinese online lending platform Fenqile, plans to meet advisers to discuss the fate of its proposed US initial public offering, people with knowledge of the matter said. The company aims to decide whether to imminently start its IPO roadshow or wait for a later date when market sentiment may be better, according to the ...