September, 2019

• 10 September

  Musanada begins work on AED1bn school projects

  

  Abu Dhabi / WAM The Abu Dhabi General Services Company (Musanada), revealed that it has, in collaboration with the Department of Education and Knowledge (Adek), begun the construction of six schools through projects across Bani Yas, Al Rahba, Al Riyadh, Al Dhaher, Al Bahia and Shiab Al Ashkhar at the total cost of more than AED1 billion. The execution of ...

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• 10 September

  Process VAT claims only via FTA’s website

  

  Abu Dhabi / WAM In response to reports that some bank customers have been receiving emails from unidentified sources impersonating banks and financial institutions requesting personal data in the promise of helping them claim their Value Added Tax’s, the Federal Tax Authority (FTA) reaffirmed that tax refunds are processed only through the Authority’s official website. In a press statement is, ued ...

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• 10 September

  Poland wins bid to restrict Russian access to gas link

  

  Bloomberg Poland won a European Union court ruling that limits Russia’s control of a key natural gas link. The eastern European nation successfully challenged a European Commission decision from 2016 that allowed Gazprom PJSC to use most of the capacity on the Opal pipeline in Germany. That link in turn carries fuel from the Baltic Sea Nord Stream pipeline, a ...

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• 10 September

  Uganda needs $3.5bn to expand electric network

  

  Bloomberg Uganda is seeking $3.5 billion in private investment to expand its power-transmission network in attempt to curb spending without slowing its economic growth. Liberalising transmission will provide additional resources needed to transmit power from new generation projects including the 600-megawatt Karuma hydropower plant scheduled to start output in December, according to the electricity regulator. The capital injection, above the ...

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• 10 September

  Mercedes unveils electric sibling for flagship S-Class

  

  Bloomberg Mercedes-Benz gave car buyers a glimpse of the top-end of its electric model plans, showing off a sleek silver battery-powered concept version to complement the flagship S-Class sedan. So far luxury cruisers have remained a mainstay for traditional combustion-era heroes, with only plug-in hybrids available for the likes of BMW 7-Series or the recently revamped Audi A8. Mercedes-maker Daimler ...

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• 10 September

  Huawei, Samsung’s new 5G chips a threat to Qualcomm

  

  Bloomberg Samsung Electronics Co and Huawei Technologies Co took turns announcing new mobile processors at the IFA technology show in Berlin, and the big thing the new chips have in common is an integrated 5G modem. In a market dominated by US rival Qualcomm Inc, the world’s two biggest smartphone manufacturers asserted a lead in delivering one of the keys ...

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• 10 September

  Nissan ousts CEO over pay scandal as turmoil deepens

  

  Bloomberg Less than a year since the dramatic downfall of Carlos Ghosn, Nissan Motor Co is losing another leader. Chief Executive Officer Hiroto Saikawa was asked by the board to step down by September 16. He’ll be replaced by Chief Operating Officer Yasuhiro Yamauchi until a permanent replacement is named by the end of October. With Saikawa felled by a ...

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• 10 September

  Peter Thiel firm invests $45mn in India startup

  Bloomberg Peter Thiel’s venture capital firm is investing $45 million into Glance, an Indian technology startup that uses artificial intelligence to personalise content for smartphones. Mithril Capital, co-founded by Silicon Valley investors Thiel and Ajay Royan, is putting in the money as part of a larger financing round, according to a statement. Glance is part of InMobi Group, a mobile ...

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• 10 September

  Jack Ma ends 20-year reign over Alibaba

  

  Bloomberg Jack Ma is giving up the reins of Alibaba Group Holding Ltd after presiding over one of the most spectacular creations of wealth the world has ever seen. The former English teacher steps down as executive chairman of China’s largest company on his 55th birthday after amassing a $41.8 billion fortune — a trove surpassed only by India’s Mukesh ...

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• 10 September

  Asia trade pact at ‘point of no return’

  

  Bloomberg Global trade tensions could derail a landmark regional agreement encompassing 16 countries including India, China and Australia if a deal is not struck by November, said Indonesian Minister of Trade Enggartiasto Lukita. Negotiations for the Regional Comprehensive Economic Partnership, or RCEP, have reached the “point of no return” as increasingly hostile trade tensions could dampen a deal seven years ...

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