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Bloomberg President Donald Trump’s appointment of Christopher Miller, a former Green Beret and White House counterterrorism coordinator, as acting defense secretary raises “two layers of fear,” the head of the House Armed Services panel said. The first is the “incredibly steep learning curve” on global military operations, options and controversies that Miller faces after Trump’s dismissal-by-tweet of Mark Esper as ...

Abu Dhabi / WAM Adnoc Distribution reported on Wednesday that its underlying Ebitda for the first nine months of 2020 grew to AED2,554 million, with net profit of AED1,581 million. For the third quarter, underlying Ebitda (Earnings before interest, taxes, and amortisation) was AED 1,132 million, while net profit stood at AED 671 million. Free cash flow generation remained solid ...

Abu Dhabi / WAM Etihad Airways announced a 49-hour National Day sale where customers can book a getaway with a AED 49 deposit and pay nothing until 21 days before their trip. “Travellers can jet off any time before September 30, 2021 for less, and lay back and relax at a luxury resort, explore ancient architecture or spend the weekend ...

Abu Dhabi / WAM Ahmed Ali Al Sayegh, UAE Minister of State, and Nikos Christodoulides, Minister of Foreign Affairs of the Republic of Cyprus, on Wednesday convened the inaugural virtual meeting of the UAE-Cyprus Joint Committee. In his remarks, Al Sayegh affirmed the strength of the two countries’ bilateral relationship, and pointed to the growing cooperation that the UAE and ...

Dubai / WAM Dubai Airport Freezone Authority (Dafza) welcomed a senior economic delegation from Israel. The visit aims to discuss the prospects for strategic relations in various fields to encourage and increase foreign investment flows. This initiative will enhance joint action to explore promising opportunities that await Dafza and the Israeli economic and commercial entities represented in the delegation. Dr ...

Bloomberg China inked its first term deal to buy liquefied natural gas (LNG) from an American exporter since the trade war disrupted deliveries, a sign of confidence that relations with the US could be normalising. Foran Energy Group said it signed a framework agreement with US producer Cheniere Energy Inc to purchase 26 cargoes between 2021 and 2025. The deal ...

Bloomberg President-elect Joe Biden shrugged off Donald Trump’s effort to challenge the election results, forging ahead with transition planning even as the president pursues a multi-state legal fight backed by Republican allies and the Justice Department. Trump’s campaign said it would file a federal lawsuit in Michigan that seeks to stop the state’s top election official from certifying Biden’s win. ...

Bloomberg Italy may need to spend as much as 10 billion euros ($11.8 billion) a month to aid businesses and workers hit by coronavirus restrictions. Authorities are working on plans that would help the country navigate through a surge in infections that’s derailed the rebound from one of Europe’s worst recessions. Lockdown measures similar to the ones imposed earlier this ...

Bloomberg The UK plans sweeping powers to intervene in foreign takeovers of British assets if deemed a threat to national security. A draft law would expand the range of transactions open to government intervention, the Department for Business, Energy and Industrial Strategy said. There will be scope for fines and retroactive interventions in deals that complete after the bill’s publication ...

Bloomberg Thyssenkrupp AG is in talks with the German government over an aid package for its struggling steel unit worth at least 5 billion euros ($5.9 billion), well exceeding the group’s current market value in a key push to secure its survival. Chancellor Angela Merkel’s government has signalled a willingness to provide financial support to shore up the unit and ...