Bloomberg The US auto market has peaked and will shrink this year, with manufacturers using unprecedented incentives to support passenger cars through slumping demand, a Toyota Motor Corp. executive said. Industrywide deliveries may decline to as low as 17 million vehicles from last year’s record of about 17.5 million, according to Bob Carter, president of Toyota’s US sales unit. …
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Bloomberg An influential group of investors is pressing Tesla Inc. to add two board directors who don’t have ties to Elon Musk, a sign that concerns over the electric-car maker’s corporate governance remain as its shares soar. Five of Musk’s six fellow board members have personal or professional connections to the Tesla chief executive officer, which could jeopardize their …
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Abu Dhabi /Â WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, stressed that the UAE foreign aid represents a global model to follow in terms of humanitarian and development work. This is not just for being one of the largest international donors compared to its gross national income (GNI) for the fourth …
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Abu Dhabi /Â WAM ADNOC Distribution is investing AED750 million in a fuel depot located at the new Midfield Terminal of Abu Dhabi International Airport, according to Saeed Mubarak Al Rashdi, Acting Chief Executive Officer of ADNOC Distribution. Speaking to Emirates News Agency (WAM) Al Rashdi said, “ADNOC Distribution produces 14 million tonnes of jet fuel in order to meet …
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Sharjah / Emirates Business Sheraa (Sharjah Entrepreneurship Center)- a launch pad for aspiring young entrepreneurs in the UAE – announced a partnership with Sharjah Airport International Free Zone (SAIF Zone) to support and empower its accelerator teams in their bid to create a successful commercial enterprise. SAIF Zone will be providing the accelerator teams with a discounted two-year free …
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Ajman / Emirates Business Under the patronage of His Highness Sheikh Ammar Bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of Ajman Executive Council, the third edition of Franchise Brands Retail (FBR Ajman) will be held at Emirates Hospitality Center-Ajman from April, 17-18. FBR Ajman will feature more than 100 local and international brands from various sectors …
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Bloomberg Toshiba Corp., the 142-year-old conglomerate, warned on Tuesday it may not be able to continue as a going concern as it grapples with billions of dollars in losses from its Westinghouse Electric nuclear business. The disclosure came as the Japanese company reported earnings for the third quarter after missing two previous deadlines for financial results. Toshiba posted an …
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Bloomberg India is considering turning to the private sector to help plug a chronic shortage of capital for infrastruc- ture projects. The Reserve Bank of India is proposing Asia’s third-largest economy offer licenses to private companies to set up infrastructure banks. That could help finance $1.5 trillion in roads, ports, power and other projects over the next 10 years …
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Bloomberg Qualcomm Inc. accused Apple Inc. of lying to regulators to spur investigations of the chipmaker, and threatening it to cover up the use of inferior parts in some iPhones. The world’s largest maker of phone semiconductors responded to a January lawsuit from Apple with counterclaims for damages late on Monday, alleging the iPhone maker breached contractual pledges, mischaracterized …
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Bloomberg BMW AG, Ford Motor Co. and Jaguar Land Rover are among the winners of 110 million pounds ($136 million) from the UK for the development of low-carbon vehicles and driverless cars. The funding for a total of 38 projects, including 62 million pounds for low-emission cars and 31 million pounds for autonomous vehicles, will help protect almost 2,400 …
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